Westpac, Optus introduce Australian-first scam protection

In a move to help stop bank impersonation scams and improve the customer experience, Westpac and Optus are introducing a new in-app calling capability for Westpac customers.

Westpac SafeCall will allow customers to receive calls via the app that are Westpac branded, verified by Optus and show a reason for the call. This will help give customers more certainty in the legitimacy of the call, at a time when bank impersonation scams are among the most common scam types impacting customers.

Westpac Chief Executive Officer, Peter King said the new capability will improve the customer experience while making Australia a harder target for scammers to operate.

“Using this technology, when a customer receives a call from Westpac, their phone will display Westpac as the caller, along with a verification by Optus and a reason for the call. This will help to provide customers with the confidence and added security to help beat scammers and know that they really are talking to their bank,” Mr King said.

“We’re continuing to invest in scam prevention and detection measures and are currently detecting 69 per cent of all scam cases. Westpac SafeCall will help us reduce bank impersonation scams and make Australia an even harder target for scammers.”

Optus Interim CEO, Michael Venter said the partnership with Westpac demonstrates Optus' commitment to innovation and customer service.

"Optus is proud to partner with Westpac to deliver this world-leading solution that will help keep customers safe from scammers and fraudsters. By using our market-leading technology, we are able to provide Westpac customers with branded and verified calls that clearly identify interactions with the bank. This is a great example of how Optus is leveraging its network capabilities and digital solutions to create value for our partners and their customers," Mr Venter said.

The branded calling solution is powered by Vonage, a global leader in cloud communications and a part of Ericsson. SafeCall will be gradually rolled out to Westpac customers in the coming months, building on the work the bank has done to improve customer protections and bring down scam losses. The capability will also mean customers can call the bank via the Westpac app.

“Westpac SafeCall is part of our ongoing investment in digital banking and our commitment to provide the best customer experience,” Mr King said.

Over the past two years, Westpac has saved customers over $400 million from being lost to scammers and has invested more than $100 million in new detection and prevention measures, including initiatives delivered as part of the Scam Safe Accord. Current measures available to Westpac customers include:

Westpac SaferPay – presents customers with a series of questions in instances where a payment is considered a high risk of being a scam.

Westpac Verify – alerts customers when there is a potential account name mismatch when they’re adding a new payee using a BSB and account number.

Dynamic CVC – changes the three-digit code on the back of the digital card every 24-hours.

Cryptocurrency blocks – for payments to certain digital currency exchanges.

Merchant blocks – for payments to businesses deemed high-risk of being a scam (e.g. offering fake or misleading products and services).

Call spoofing measures – added 94,000 Westpac numbers to the ‘Do Not Originate’ list preventing scammers from impersonating the bank’s phone numbers.

Inbound payment detection – monitoring on payments coming into the bank to check for potential scam indicators, with funds held where a scam is detected.

Sophisticated detection technology – advanced behavioural tool helping combat remote access scams.