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Australian Bank Spots Scams via How Users Hold Their Phones

National Australia Bank seems to think that monitoring the angle customers hold their phones will offer extra protection against scammers. "Speaking during the Australian Banking Association Conference in Melbourne Wednesday (June 26), CEO Andrew Irvine said the lender introduced more 'friction' to ...

National Australia Bank seems to think that monitoring the angle customers hold their phones will offer extra protection against scammers. Irvine, who called fraudsters the "scourge of our times," also noted that Australia is one of the few countries where bank fraud has declined, the report said. Still, he said that as scammers have embraced new technology like artificial intelligence, banks have had to shift from making payments fast and simple to adding more steps to protect against fraudulent transactions, per the report.

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