18 March 2025

Suncorp Bank introduces new technology to enhance fraud protection

4 min read

 


Suncorp Bank is introducing new technology, in a bid to protect customers from scammers. 

From today (18 March), higher risk OSKO fast payments will be held for 24 hours with customers notified to give them extra time to consider if they may have been involved in a scam and cancel the payment if necessary.

Executive Manager, Financial Crime Operations & Strategy, Paul Gardner said the initiative reflects Suncorp Bank’s commitment to safeguarding customers’ assets. 

“While real-time payments are convenient, they can also be exploited by scammers,” he said.  

“Pausing transactions will allow customers to stop and check, providing an extra layer of safety.

“We understand the devastating impact of scams on Australians, and every day, we are committed to fighting scammers and protecting our customers.”

Suncorp Bank will determine whether a payment is paused based on the following factors: 

  • Whether it is a new payee  

  • How much money is being transferred

  • Whether there are any suspicious patterns

Customers will still be able to make immediate payments to new payees by visiting their local branch, where staff are able to ask questions to verify the legitimacy of the payment. 

At Suncorp Bank, we encourage everyone to: 

  • Stop and Check: Independently verify the legitimacy of payments and avoid unsolicited contact via social media, email, SMS, or phone calls.

  • Protect Personal Information: Never share details or send money in response to unsolicited communication.

  • Raise Awareness: Educate those around you about scams - it could save someone from falling victim.

  • Report Scams: Notify telcos, social media platforms, and/or financial institutions if you notice or suspect suspicious activity. 

For more information about scams, please visit www.suncorpbank.com.au.