The CommBank is bringing in sophisticated technology to fight back against ever evolving scammers. Customers will get an alert through their app to verify if a call is real. 7NEWS
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Commonwealth Bank made ‘two announcements’ to combat scammersCommonwealth Bank of Australia made “two announcements” on their mobile application to combat online and phone scammers, according to CBA Group Executive Retail Banking Services Angus Sullivan. “Two announcements, the first the caller check … you need a way of verifying ‘is the person that’s calling me actually from the institution that they claim to be?’” he told Sky News Business Editor Ross Greenwood. “What we’re announcing today with caller check is the ability for all CBA customers who have the app, anytime we call them, they can go into the app and check that it’s us calling them. “The second one is around customers making new payments to BSB and account numbers - business email compromise is a type of scam that this is responding to or mistaken payments. “So you go in, you’re about to make a first-time payment to a BSB and account number … we’ve used data and analytics to be able to serve up to customers a read on ‘yep, that account number and that name, they seem to have a match …’ or ‘Nope, they don’t look like a match’.”
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Bank of America lifts sponsors banker to MD ranksBank of America has elevated local financial sponsors banker Jonathan Denby to managing director, after nearly four years with the bank.
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Goldman Sachs loses equities co-headGoldman Sachs’ co-head of equities, Ben Clifford, has left the Wall Street bank.
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Major change coming to Aussie $5 banknoteThe Australian $5 banknote is being updated to a new design that honours the culture and history of First Nations Australians. 7NEWS
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Australians set to face gas bill price increaseGas bills are set to rise again, hitting thousands of Australians struggling to stay on top of rising bills. Origin Energy and AGL announced a price increase to residential and small business customers with variable rates contracts from Wednesday. Victorian customers are among the worst affected, with the average energy bill increasing by 24.9 per cent.
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The RBA ‘need to have’ a governance board with an independent chairJudo Bank Economic Advisor Warren Hogan says the Reserve Bank of Australia “need to have” a governance board with an independent chair. “A very well respected Australian with management and experience of running organisations,” Mr Hogan said. “Politicians can stack the board with whoever they want, unions, business leaders – whatever. “Then we have a professional monetary policy committee to look after interest rates. “That would produce a much better outcome over the long-term for Australia.”
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