<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Australia's biggest bank has introduced an artificial intelligence (AI) scam detection tool and a fresh in-app security feature it hopes will combat the rise of bank fraud.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><a href="https://www.9news.com.au/commonwealth-bank" rel="" target="_blank" title="Commonwealth Bank"><span>Commonwealth Bank</span></a><span> has been capitalising on the AI boom, which it says has become a key frontier in scam protection after also pushing the technology in its customer service division.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The banking giant has now released a generative AI scam checker, an Australian-first tool that will let customers test out suspicious text messages in the Truyu app.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/tasmania-government-to-ban-greyhound-racing-state-funding-to-be-phased-out-by-2029/bd9df67c-b64e-4b38-bc52-c0c9fcc96320" rel="" target="_blank" title="One Aussie state to phase out greyhound racing by 2029"><strong><span>One Aussie state to phase out greyhound racing by 2029</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Truyu is a Commbank-backed app which alerts users when their name, date of birth and driver's licence or passport details are being used online at 60 per cent of Australian vendors.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Customers can then confirm via the app whether it's a legitimate or fraudulent use of these credentials. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Now, Commbank customers can grab a screenshot of a suspicious-looking text, upload it into the app, and check if it is a scam or not using the Scam Checker tool.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/commonwealth-bank-new-ai-tool-to-prevent-scams-reveals-major-decrease-in-scam-losses/bd667ca4-c936-4a19-b500-2a3a8a69e657" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Truyu managing director Melanie Hayden told </span><a href="https://www.9news.com.au/" rel="" target="_blank" title="9news.com.au"><span>9news.com.au</span></a><span> that AI and human intervention need to work in tandem to effectively stop scammers in their tracks.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"It's important to stress that AI doesn't replace human judgement. Scam protection is most effective when AI tools support people in making informed decisions," she said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/self-defence-laws-victoria-libertarian-david-limbrick-calls-for-state-to-change-laws/38e76cee-9f84-4361-a871-edf43a48c051" target="_blank" title="Libertarian MP calls for Victoria to overhaul self-defence laws"><strong><span>Libertarian MP calls for Victoria to overhaul self-defence laws</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Scam Checker is designed to help customers pause and assess a message before acting – empowering them with insights, not replacing their role in staying safe."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>General manager for group fraud James Roberts said the bank knows AI is not a "silver bullet" and is investing in people power to make it a true force for fighting scammers.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Human oversight, responsible design, and customer awareness are all important for making AI work well and be reliable," he said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Truyu, which was created with CBA's venture scaling arm x15ventures, has helped thousands of people by alerting them in near real-time when their identity is used at major merchants.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>It also knows when a person's private data is exposed in a data breach.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The bank has also launched a new security layer in its app which will ask customers to verify card transactions in real-time.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>It will allow users to verify the transaction before it is authorised within the app without the need for a one-time passcode.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Roberts said this aims to stop scammers from impersonating legitimate businesses with fake texts.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Instead of sending an authorisation code via text, CBA customers will need to have access to their banking app to approve transactions.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"We're now asking those customers who use the CommBank app to verify some online card transactions directly in the app instead of sending them a code," Roberts said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"We are able to give clearer guidance and warnings in the app than in a text message.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"The goal is to create a safer banking experience by combining the best of human insight and machine intelligence."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The in-app verification is slated to be available within the Commbank app later this month.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Commbank said it has invested $900 million in the past financial year to fight against fraud, scams, financial crime and cyberthreats.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><a href="https://www.9news.com.au/national/how-to-follow-9news-digital/29855bb1-ad3d-4c38-bc25-3cb52af1216f" target="_blank"><strong><em><span>DOWNLOAD THE 9NEWS APP</span></em></strong></a><strong><em><span>: Stay across all the latest in breaking news, sport, politics and the weather via our news app and get notifications sent straight to your smartphone. 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