Australia’s banks have seen a significant reduction in scams, money laundering, and remote access attacks following the launch of a real-time intelligence-sharing network.
Supported by the nation’s five largest banks, this network, managed by BioCatch Trust, analyzes account holder behavior to identify suspicious transactions. It covers over 85% of Australia’s banked population and, in the third quarter of 2025, processed more than 180 million payments totaling over $330 billion, uncovering more than $60 million in attempted fraud.
“BioCatch Trust reliably retrieved the beneficiary’s account profile in over 70% of those transactions, assessing the end-to-end payment risk before any funds left the sender’s account,” says Tim Dalgleish, BioCatch’s SVP of emerging solutions and network. “When the network makes that match, it detects better than 70% of social engineering scam payments.”
Many of these scams originate from organized criminal gangs utilizing extensive networks to perpetrate online fraud against Australians.
Toby Evans, head of economic crime at Australian Payment Network, emphasizes: “The digital payments landscape continues to evolve, from AI-driven e-commerce to cross-border links between fast payment systems. Each advancement presents new opportunities and risks. By integrating safety into systems from the outset, payments can remain innovative, secure, and resilient without putting the burden of risk on consumers.”