CommBank Cuts Scams by 76% with AI Security Innovations

August 12, 2025 • FinTech News
CommBank Cuts Scams by 76% with AI Security Innovations

Major Fraud Reduction Achieved

Commonwealth Bank of Australia (CommBank) has dramatically reduced scam losses by 76% since mid-2023. This impressive turnaround results from new AI-powered security features that stop fraud before money is stolen.

How Scam Checker Works

The bank’s Truyu app now includes “Scam Checker” – a smart tool that:
✅ Analyzes suspicious texts through AI when users upload screenshots
✅ Uses CommBank’s huge fraud database to spot scams
✅ Protects all customers better as more people use it

“Every time someone checks a message, our whole security network gets stronger,” explains Melanie Hayden, Truyu’s leader.

Stronger Mobile Banking Security

CommBank rebuilt its app security to:

  • Replace risky text codes with in-app payment approvals

  • Show clear warnings during transactions

  • Recognize trusted devices to block hackers

James Roberts, CommBank’s fraud chief, says: “Moving security into our app stops fake texts from tricking customers. Plus, we can give clearer safety instructions.”

Real-Time Identity Protection

The Truyu app also guards personal information by:

  1. Alerting immediately if your details appear in data breaches

  2. Guiding you step-by-step to secure accounts

  3. Watching constantly for suspicious activity

Big-Picture Impact

CommBank’s success shows:
🔹 AI security works better than old methods
🔹 Mobile apps beat texts/emails for safety
🔹 Stopping fraud early saves money

These improvements are part of the bank’s $900 million yearly security budget. Future plans include expanding protection to payment alerts and account messages within the secure app.

Why This Matters for Everyone

CommBank’s results prove banks can fight back against scammers effectively. Their approach combines smart technology with simple customer tools – a model other banks will likely copy as fraud threats grow worldwide.