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Over the last year CommBank protected customers from more than $228 million scam attempts through its prevention and detection program.

Research released today by Commonwealth Bank shows the majority of Australians are becoming more “scam-aware” than ever before, with more than eight in 10 people saying they are confident in their ability to recognise and avoid scams, including a quarter who say they are very confident.

Nearly three in four (73 per cent) Aussies say they have become more concerned about scams over the last 12 months – a 16 percent increase on the same figure released by CBA in October last year.

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While the prevalence of scams continues to rise, the latest CommBank data reveals anti-scam initiatives announced by the bank over the past 12 months are making a real difference for customers.

According to CommBank data between January-June 2023, CommBank customer losses decreased more than a third (37 per cent) compared with those recorded from July-December 2022.

James Roberts, CBA’s General Manager of Group Fraud Management Services, said the results show good progress of a number of anti-scam initiatives released by the bank to help detect and prevent scams.

“It’s positive news that Aussies are growing more aware of scams and what they can do to stay safe,” said Mr Roberts.

“The increased awareness and decrease in the overall dollars lost by CommBank customers over the period is encouraging. However, we all have more to do, including continuing to strengthen our defenses across all financial institutions, telcos, governments, social media, and digital platforms to protect Australians from the terrible impact scammers have.

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