Payment fraud, explained for finance teams
News, comparisons, case studies, and how-to guides for finance teams that move money.
The Archive
PayTo's $3 Million Wake-Up Call: Why Faster Rails Demand Smarter Verification
A $3M fraud via 250 zombie accounts exposed a critical verification gap in Australia's PayTo rails. Here's what every business needs to know before money moves.
Australia's Scams Prevention Framework Is Now Law - and the September Clock Is Ticking
Australia's Scams Prevention Framework is now law. Banks, telcos and platforms face $50M fines per breach. Here's what changed on 1 July 2026 and what's coming 1 September.
Your Next Invoice Could Be a Deepfake: AI Fraud Targets Australian Businesses
AI deepfakes and voice cloning are behind a new wave of payment fraud hitting Australian businesses in 2026. Here's what changed, what it costs, and how to stop it.
Confirmation of Payee Is Live: What It Covers, What It Misses
Australia's banks reached industry-wide Confirmation of Payee coverage in 2026. What it covers, what it misses, and what B2B businesses need to do next.
Australia's Scams Prevention Framework Is Live - and Confirmation of Payee Is Now the Law
Australia's SPF Stage 1 went live 1 July 2026. Banks must now verify payees before money moves or face $50M fines. Here's what changed - and what still hasn't.
EOFY 2026: Why the Next 11 Days Are Australia's Highest-Risk Window for Payment Fraud
BEC losses hit $152.6M in 2024 - up 66%. With EOFY 11 days away and Stage 1 of Australia's Scams Prevention Framework now active, here is what finance teams need to know.
Australia's Scams Prevention Framework: What Payee Verification Means for Your Business
Australia's SPF consultation closes 25 June. Banks must verify payees before payments. Here's what changes - and what it means for your business.
$152 Million Lost as Australia's New Payment Fraud Law Arrives in 26 Days
BEC losses jumped 66% to $152.6M in 2024. Three charged in May. Australia's Scam Prevention Framework goes live 1 July. Here's what it fixes - and what it doesn't.
When PayTo Mandates Go Rogue: Inside Australia's $3 Million Zombie Account Fraud
250 zombie mule accounts. $3 million stolen. How fraudsters abused Revolut's PayTo feature weeks after launch - and what account verification would have stopped.
How a Fake Email and a New BSB Cost an Australian Government Agency $3.5 Million
BEC fraud cost Australian businesses $152.6 million in 2024 - up 66%. A real AFP case shows exactly where account verification stops the attack.
AUSTRAC's Warning: AI Is Now Forging the Identities Your Payments Land With
AUSTRAC warns AI is fabricating identities to launder $166.8M in redirected payments. Here is what breaks the chain before money leaves your accounts.
Your Finance Team Spots the Scam. Then the Manager Signs Off Anyway.
CommBank data shows 53% of managers miss BEC scams vs 76% of employees. Why human vigilance alone won't stop payment redirection fraud - and what does.
Australia's CoP Has Run 100 Million Checks - Here's What It Still Can't Stop
CoP hit 100M checks and blocked 10,000+ payments to criminal accounts. Here's what the milestone means - and the fraud gaps that remain wide open.
Stop payment fraud before money moves
Verify the person, business, and bank account before any payment leaves your account.