• Published on 25 September 2023
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CommBank: Australians are more scam-aware than 12 months ago as losses fall

Commonwealth Bank of Australia's  (CommBank) research showed that the majority of Australians are becoming more “scam-aware” than ever before, with more than 8 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%) Aussies say they have become more concerned about scams over the last 12 months – a 16% increase on the same figure released by CommBank in October last year.

While the prevalence of scams continues to rise, the latest CommBank data reveals that 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 to June 2023, CommBank customer losses decreased more than a third (37%) compared with those recorded from July to December 2022.

James Roberts, general manager of group fraud management services at CBA, said the results show good progress in a number of anti-scam initiatives released by the bank to help detect and prevent scams.

 Re-disseminated by The Asian Banker