Australia's banks have experienced a marked decline in scams, money laundering and remote access attacks after switching on a real-time intelligence sharing network.
Supported by Australia's big five banks, the network, operated by BioCatch Trust, analyses patterns in account holder behavior to cath suspicious transactions. The data covers more than 85% of the nation’s banked population and, in the third quarter of 2025 alone, analysed more than 180 million payments totalling more than $330 billion, revealing more than $60 million in attempted fraud.
“In better than 70% of those transactions, BioCatch Trust reliably retrieved the beneficiary’s account profile, assessing the end-to-end payment risk before any money left the sender’s account,” BioCatch SVP of emerging solutions and network Tim Dalgleish says. “When the network makes that match, its signals now detect better than 70% of social engineering scam payments.”
Many of the scam attempts come from organised criminal gangs operating from a vast network of scam compounds, which serve as the launchpads for much of the online fraud targeting Australians, he says.
Toby Evans, head of economic crime at Australian Payment Network, says: “The digital payments landscape continues to evolve, from AI-driven e-commerce to cross-border links between fast payment systems. Each advance brings new opportunities, but also new risks. By embedding safety into systems from the start, payments can remain innovative, secure, and resilient without forcing consumers to shoulder risk.”