The Mutual Bank is proud to be a part of a new Scam-Safe Accord aimed at delivering a higher standard of protection for our Members and help put scammers out of business in Australia.
The Scam-Safe Accord, between Australia’s customer owned banks, mutual banks, building societies, credit unions and commercial banks is a comprehensive set of anti-scam measures across the entire industry.
Announcing the Accord today, Australian Banking Association CEO Anna Bligh said the new offensive in the war on scams reflects the banking sector’s unwavering commitment to safeguarding every Australian.
At the heart of the Scam-Safe Accord is a $100 million investment by the industry in a new confirmation of payee system to be rolled out across all Australian banks.
Confirmation of payee will help reduce scams by ensuring people can confirm they are transferring money to the person they intend to.
Read more about the Scam-Safe Accord and what it will mean for our Members here.
The Mutual Bank is a member of the Customer Owned Banking Association (COBA), the industry association for Australia’s customer-owned banks whose vision is for more Australians to benefit from a resilient banking sector that is centred on people and communities.
