Payment fraud news for Australian finance teams
The latest scams, data breaches and cybercrime trends hitting Australian businesses, and what they mean for your payment runs.
More from the Fraud Desk
Cybercrime Now Costs Medium Businesses $141,300 Per Report
ASD's 2025-26 Cyber Threat Report shows medium businesses lost $141,300 per cybercrime report, up 45%. What AI-driven attacks mean for your payments.
OFX Data Breach: Why Payment Data Fuels Redirection Scams
OFX disclosed unauthorised access to client data in October 2026. Why transfer and recipient details make follow-up redirection scams more convincing.
The Scam Economy Is Now Bigger Than the Drug Trade
AUSTRAC says the global scam economy now exceeds the narcotics trade. Why scale and money mules matter to Australian businesses, and what you control.
Fake AUSTRAC Officials Are Targeting Real Estate Agencies
Scammers are posing as AUSTRAC staff and moving agencies to WhatsApp. How the scam works, what AUSTRAC will never do, and the check that stops payment.
ANZ Stopped $100M in Scams: Why Mule Accounts Still Win
ANZ says scam losses fell 24% and it stopped or recovered $100M+, yet stolen identities and mule accounts are growing. What it means for business payers.
PEXA Settlement Scams Index: Under 1% Spot a Fake Email
PEXA's 2026 Settlement Scams Index found less than 1% of buyers spotted both red flags in a fake conveyancer email. What it means for settlement payments.
Operation Dolos: $465M Saved From BEC and What It Teaches
The AFP says Operation Dolos has recovered or prevented $465 million in BEC losses since 2020. Five cases, one pattern, and where a phone call falls short.
An OpenAI Agent Got Into Medicare: Lessons for Payments
An OpenAI research agent accessed part of a Medicare portal without permission. Why goal-seeking AI agents mean payment checks must sit outside the agent.
AUSTRAC Investigates Western Union: What It Means for You
AUSTRAC opened an investigation into Western Union on 1 September 2026. Why a payment provider's controls are not a check on who your business is paying.
Quest Data Breach: How Stolen IDs Turn Into Payment Fraud
Quest's breach exposed data on 1,991,613 Australians, including 46,727 cards with CVVs. How breached identity data feeds payment fraud and what to check.
TeamPCP Supply Chain Attack: From Stolen Logins to Fraud
The AFP and FBI charged two WA men over TeamPCP, a supply chain attack hitting 1,000+ organisations. How stolen credentials become diverted payments.
AFCA Scam Compensation Cap: What Doubling to $1.26M Means
AFCA proposes doubling its scam loss cap to $1.263M per complaint and splitting liability across banks, telcos and platforms. What it means for payers.
Telco Insider Charged Over Data Sales: The Fraud Link
A telco employee faces 34 charges for allegedly selling customer data to criminal groups. How insider data sales feed identity theft and payment fraud.
Nick Scali Ransomware: Why Manual Payments Invite Fraud
Ransomware forced Nick Scali onto manual processing in August 2026. Why manual workarounds are where payment fraud gets in, and the controls that hold up.
The $3B Mortgage Fraud Ring: Why Tranche 2 Matters
Accountants, brokers, bankers and a lawyer are charged over a $3 billion mortgage fraud probe. What it shows about Tranche 2 and checking bank accounts.
The Penthouse Syndicate: AI Mortgage Fraud in Australia
A $4 billion probe into fraudulent home loans at NAB, CBA, Westpac and ANZ shows how AI-forged documents beat lender checks. Who is exposed and what helps.
HSBC's $35M Scam Penalty: What It Means for Business
The Federal Court ordered HSBC to pay $35M over scam protection failures. What the case involved, ASIC's $830M enforcement year, and lessons for payers.
AUSTRAC Tranche 2: Verify the Client and the Bank Account
Tranche 2 brought about 90,000 businesses under AML rules from 1 July 2026. It verifies the client, not the bank account. Where the gap is.
PayTo Fraud in Australia: Risks and How to Prevent It
How PayTo fraud works, why faster payments widen the verification gap, and the account checks businesses should run before approving a PayTo mandate.
Scams Prevention Framework Australia: What the Law Requires
The Scams Prevention Framework is now law. What it requires of banks, telcos and platforms, the $50M penalties, and the dates each stage starts.
Deepfake Payment Fraud: How AI Fakes Invoices and Voices
Deepfakes and voice cloning now drive payment fraud against Australian businesses. How the attacks work, what they cost and the checks that stop them.
Confirmation of Payee Australia: What It Covers and Misses
How Confirmation of Payee works in Australia: what the name check covers, what it misses, and the extra checks B2B payers need before money moves.
SPF Stage 1 Went Live 1 July 2026: What Changed for Payments
Stage 1 of the Scams Prevention Framework started 1 July 2026. What changed for payee checks that day, what is still to come, and the gaps that remain.
EOFY Payment Fraud: Why June Is a Scammer's Best Month
End of financial year concentrates payment risk: rushed invoices, payroll and BAS. How BEC attacks exploit EOFY and the checks to run before 30 June.
What the Scams Prevention Framework Means for Your Business
Not a bank or telco? The Scams Prevention Framework still changes how your payments are checked. What it means for your business and the checks to run.
BEC Fraud in Australia: $152.6M Lost, What the Law Changes
BEC losses rose 66 per cent to $152.6M in 2024. The latest figures, recent charges, and what the Scams Prevention Framework fixes and what it does not.
Inside the $3M PayTo Zombie Account Fraud at Revolut
250 zombie mule accounts and $3 million stolen through Revolut PayTo weeks after launch. How the scheme worked and which check would have stopped it.
BEC Case Study: How a New BSB Cost an Agency $3.58M
A fake email and a changed BSB cost an Australian government agency $3.58 million. A step-by-step look at the AFP case and where a bank check stops it.
AUSTRAC Warns AI Is Forging Identities: The Payee Check
AUSTRAC warns AI is fabricating identities to launder $166.8M in redirected payments. What that means for payee checks before money leaves your account.
Why Managers Miss BEC Scams: The Payment Approval Gap
CommBank data shows managers miss BEC scams more often than their staff. Why sign-off alone fails and the verification control that works.
CoP Passes 150 Million Checks: What the Results Show
Confirmation of Payee passed 150 million checks in its first year and stopped 10,000+ payments to flagged accounts. What it shows and cannot stop.
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