The Scam-Safe Accord is an initiative by the Australian banking industry: a coordinated set of commitments among banks to combat scams through shared measures like confirmation of payee, enhanced fraud detection, and information sharing. It’s a notable example of an industry-wide, collaborative response to the surge in scams, particularly authorized push payment-style fraud where victims are manipulated into sending money.

Scams have become a dominant fraud threat, and because they often span multiple banks (the victim’s bank and the fraudster’s bank), no single institution can stop them alone. The Scam-Safe Accord reflects the recognition that fighting scams requires industry coordination.

What the Accord includes

The Scam-Safe Accord commits participating banks to a range of anti-scam measures, including: confirmation of payee (checking that the account name matches before a payment, to catch misdirected or fraudulent transfers), enhanced customer verification and fraud detection, biometric checks for new customers, limits and friction on higher-risk transactions, information and intelligence sharing between banks to identify scam patterns and mule accounts, and improved processes for responding to and reporting scams. Together these aim to disrupt scams at multiple points.

Why coordinated action matters

Scams exploit the seams between institutions and the trust of victims, so a coordinated defense is far more effective than isolated efforts. Confirmation of payee helps stop payments to fraudulent accounts; shared intelligence helps identify mule accounts receiving scam funds across banks; and consistent friction on risky transactions reduces the success of manipulation. The Accord is part of a global trend of industry and regulatory action against scams, alongside reimbursement rules and other frameworks emerging in various markets.

The broader context

The Scam-Safe Accord illustrates how anti-scam efforts are moving from individual bank controls toward ecosystem-level coordination and, in some markets, shifting liability toward institutions. For banks, meeting these commitments requires strong identity and fraud capabilities: behavioral analytics to detect manipulation, identity verification for confirmation of payee and onboarding, mule-account detection, and real-time transaction monitoring. It’s a concrete driver of investment in the kind of layered, identity-and-fraud-fused detection that scams demand.

Frequently asked questions

What is the Scam-Safe Accord?

An Australian banking industry initiative coordinating anti-scam measures like confirmation of payee, enhanced fraud detection, and intelligence sharing.

What is confirmation of payee?

A check that a payee’s account name matches before a payment is sent, helping catch misdirected or fraudulent transfers.

Why does fighting scams require industry coordination?

Scams often span the victim’s bank and the fraudster’s bank, so shared measures and intelligence are more effective than isolated efforts.

Related: Scams / Social Engineering Scams · Authorized Push Payment (APP) Fraud · Money Mule · Transaction Monitoring · NACHA Rules