CBA tightens up security
(2 December 2009 – Australia) Commonwealth Bank of Australia (CBA) has made plans to tighten its retail security systems, in a bid to provide the most secure banking experience possible for consumers.
A number of new initiatives are being implemented by the bank, including anti-skimming devices on ATMs and gas and dye systems in ATMs to deter tampering.
CBA will also be launching a voice activated telephone alert system (Adeptra) for suspected fraudulent credit card transactions; enabling increased card security for customers and a two factor identification process for online card and NetBank transactions.
The bank will also continue to roll-out its ‘Chip Authentication’ on credit and debt cards.
Ross McEwan, group executive retail banking services, CBA, said that in the current climate one of the key issues for customers is security and protection of their finances and other personal banking.
Anti-skimming devices are a significant security investment for the bank and will assist in preventing fraudulent activity; the devices will not be visible which may also help apprehend perpetrators, Mr McEwan added.
Mr McEwan also highlighted that the bank continually monitors credit card transactions to identify unusual or potentially fraudulent activity; with the introduction of the voice activated Adeptra, CBA can now contact customers within seconds of any problems.
Mr McEwan said that the system triggers an automated call to the customer to ascertain the legitimacy of a recent transaction via a pre-recorded script followed by prompts to follow for further action where required.
While this does not completely eradicate fraudulent activity, it does ensure that accounts can be shut down quickly to limit the impact on the customer, and allows remediation action to begin quickly and efficiently to return customers’ funds, Mr McEwan added.
CBA will also be launching a voice activated telephone alert system (Adeptra) for suspected fraudulent credit card transactions; enabling increased card security for customers and a two factor identification process for online card and NetBank transactions.
The bank will also continue to roll-out its ‘Chip Authentication’ on credit and debt cards.
Ross McEwan, group executive retail banking services, CBA, said that in the current climate one of the key issues for customers is security and protection of their finances and other personal banking.
Anti-skimming devices are a significant security investment for the bank and will assist in preventing fraudulent activity; the devices will not be visible which may also help apprehend perpetrators, Mr McEwan added.
Mr McEwan also highlighted that the bank continually monitors credit card transactions to identify unusual or potentially fraudulent activity; with the introduction of the voice activated Adeptra, CBA can now contact customers within seconds of any problems.
Mr McEwan said that the system triggers an automated call to the customer to ascertain the legitimacy of a recent transaction via a pre-recorded script followed by prompts to follow for further action where required.
While this does not completely eradicate fraudulent activity, it does ensure that accounts can be shut down quickly to limit the impact on the customer, and allows remediation action to begin quickly and efficiently to return customers’ funds, Mr McEwan added.
Subscribe