At Qudos Bank, our customers are our top priority, especially when it comes to safeguarding their banking accounts. We are committed to staying vigilant against emerging trends and the latest scams, investing in advanced technology. Furthermore, we are dedicated in investing in your education by providing our customers with the latest fraud and scam trends.
In this edition of MyQ, we will discuss how Qudos Bank works with you to protect your accounts and provide updates on security education, protective measures, and operational improvements we have implemented in the past year.
At Qudos Bank, we have implemented rigorous security and identification procedures that utilise leading technology, software, and behavioural solutions to help protect our customers' accounts from scams and fraud. By staying up to date with emerging trends in scams and fraud, we can continue to provide support in safeguarding your funds.
To provide an additional layer of protection, we offer 24/7 account monitoring that assists in promptly blocking potential suspicious transactions. This enables our Fraud team to reach out to you and verify the authenticity of transactions, while also providing valuable awareness information to help you avoid current scams.
Recognising the growing trends in fraud and scams, we have focused on expanding our Fraud team. By transitioning into a direct inbound team, we can now offer first-call resolution for concerns related to suspicious online banking matters, including activity verification.
Our Fraud team is readily available to receive your inquiries, and you can reach them by calling 1300 747 747. They are available from Monday to Friday, 7am-7pm (AEST), and on Saturday from 9am-5pm (AEST).
We take pride in keeping our customers informed about the latest information on scams and fraud. We encourage you to visit our Fraud and Security hub on our website, which serves as a valuable resource for learning about different types of scams and the preventive measures that could help you avoid them.
Follow us on social media, such as our Facebook and Instagram pages, to stay updated on current scams and fraud. We frequently use these platforms to alert our customers about potential risks. Additionally, you can watch our Fraud, Scams, and Cyber Security webinar, where our security experts provide insights on protecting your personal information and discuss emerging trends in scams and fraud.
Qudos Bank is a proud member of the Customer Owned Banking Association (COBA), with whom we closely work to share information about the latest emerging threats and potential impacts due to scams and fraud.
We also maintain close collaboration with regulatory bodies such as APRA and ASIC, as well as industry and consumer groups, to ensure we stay ahead of emerging scams and fraud and fulfill our obligations in providing the best support in this area.
At Qudos Bank, we remain committed to combating fraud and scams to protect you, our valued customers. In line with this commitment, we are exploring behavioural biometric solutions to complement our existing industry-leading technologies.
Behavioural biometrics aims to enhance the online experience by analysing user behaviour patterns, swiftly detecting any unusual activities, and assisting to promptly identifying potential fraudsters. By taking a proactive approach, we aim to further prevent fraudulent transactions in advance, whilst minimising any inconveniences or delays for legitimate customers.
We are dedicated in providing robust protection and empowering you to make informed decisions. With our ongoing investment in advanced technology and staying up to date with industry trends, we will continue to provide the best support around security.
For more information and resources on scams and fraud, please visit our Fraud and Security hub on our website.
By Antar Chahine
Chief Risk Officer
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