Rampant real-time bank-transaction fraud attracts a liability flip

By Julian Bajkowski

June 26, 2023

Philip Lowe
Reserve Bank of Australia Governor Philip Lowe (l). (AAP Image/Dan Himbrechts)

It was Saturday, 24 June, 2023 when the bell on a very, very big fraud cat bell began to ring. Not like a giveaway tinkle but very a loud fire alarm.

Readers of The Sydney Morning Herald’s Saturday staple for coffee sippers, the Good Weekend magazine, were treated to a whopping double-page, inside-front-cover spread not for a new credit card, electric vehicle or some multinational greenwashing but for a massive Commonwealth Bank of Australia ad on how to avoid online fraud.

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