CommBank app updates enhance security against scams

CommBank has introduced new security features to its mobile application to tackle scams and protect customer funds.

The bank's app now includes three measures designed to enhance customer safety: a digital wallet review feature, interactive warnings for first-time payments, and a QR Cardless function. CommBank has reported that more than 7.3 million digital wallets have been linked to their payment details.

The new 'Review Digital Wallet' feature enables users to monitor all digital wallets connected to their payment details within the CommBank app. Customers can identify and remove any wallets they do not recognise, providing an added layer of security against fraudulent use.

Interactive warnings in the app now bolster customer protection by alerting users who are about to make a first-time payment. These tailored scam warnings appear before customers send money, offering them critical information to prevent potential fraud incidents.

The introduction of the QR Cardless feature allows for secure deposits and withdrawals without needing a physical card. Instead, transactions are authorised using the CommBank app. This feature not only enhances security but also offers higher deposit limits for those who prefer cardless banking solutions.

James Roberts, CommBank's Head of Group Fraud, commented on the effect of these new security measures. "We're committed to doing what we can to tackle the ever-changing scams and fraud environment. These extra security measures are designed to help disrupt scams and fraud, and ultimately make Australia less attractive to scammers," he said.

Roberts further noted the positive impact of the bank's ongoing efforts, stating, "Having recently seen our customer scam losses halve over the last financial year we know what we are doing is having a positive impact, but there is more to be done."