<ul data-eligibleForWebStory="false"><li>Banks in Australia are officially rolling out Confirmation of Payee, a name-matching service to protect customers from scams.</li><li>Investing around $100 million in the technology, banks aim to keep consumers' money safe through the Scam-Safe Accord initiative.</li><li>Confirmation of Payee helps reduce scams by verifying name, BSB, and account number details before payments are made, giving customers more control and confidence.</li><li>Australia's banking sector is leading in customer protection against scams with the implementation of Confirmation of Payee, contributing to the reduction of scam losses and enhancing customer safeguards.</li></ul>

Banks Roll Out Confirmation of Payee Across Australia to Crack Down on Scams

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