This post was originally published on Finextra (Security)
CommBank and Telstra today announced their anti-scam technology Scam Indicator has been expanded to cover landlines, to help detect suspicious calls in real-time, helping to avoid money being lost to scammers.
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The anti-scam technology, which was conceived and developed in partnership with Quantium Telstra1 to help protect joint Telstra and CommBank customers, was launched to cover mobile phone calls in October 2023.
Recent Telstra data2 shows more than 85 per cent of residential landlines services are registered to Australians over the age of 60.
Further, National Anti-Scam Centre data3 reveals:
Those aged over 65 lost more money to scammers in 2023 than any other age group and were the only group that did not experience a decrease in reported losses during that year.
Phone calls were the no.1 contact method used by scammers in 2023 based on the amount lost.
Those aged over 65 made the most scam reports in the first quarter of 2024.
Quantium Telstra CEO Sandy Cameron praised the Scam Indicator technology and the collaboration with CommBank.
“Protecting Australians from scams is a team sport and Scam Indicator is a powerful example of
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