Keeping you safe from scams and cybercrime is a top priority for Westpac. We're continuing to invest in technology and innovation to combat scammers and help keep you safe.
If I could ask one thing of you, it's to please remain vigilant - being suspicious is the best way to pay safely. Westpac will never ask you for account or personal details by text or email and we'll never send you a link to a banking login page. If you're being asked to do this, report the message to hoax@westpac.com.au and please contact us right away if you think you might have been scammed.
Westpac has invested in two new capabilities to stop scammers.
Westpac SaferPay
With the introduction of Westpac SaferPay, an Australian-first innovation, we're adding extra checks into the payment process. Where our system identifies a payment is high risk of being a scam, we'll ask a series of questions to get more information. The technology helps us pinpoint and stop potential scam transactions without disrupting genuine payments.
You might never see these prompts because they'll only appear when we detect a potential scam. But you can rest assured we're working in the background to protect you and stay a step ahead of the scammers. Westpac SaferPay is operating on payments in the Westpac App now and will be rolled out for payments made through Online Banking in the coming months.
Westpac Verify
We're also helping you identify when you're making a payment to someone who may not be who they say they are. When you add a new payee, Westpac Verify will give you an indication on how confident we are that the name is connected with the BSB and Account Number you've entered. It'll help stop scammers from stealing your money by posing as someone you intend to pay (for example with a fake or altered invoice). This enhancement will be in the Westpac App and Online Banking by mid-year.
You can learn more about any of these features, stay up to date on the latest scams or find out what else you can do to protect yourself by visiting our security hub on the Westpac website.
Peter was appointed Westpac Group Chief Executive Officer in April 2020. Peter previously held this role on an acting basis between December 2019 and March 2020. Prior to this, he was Chief Financial Officer since April 2014, with responsibility for Westpac's finance, group audit, tax, treasury and investor relations functions, following three years as Deputy CFO. Since joining Westpac in 1994, Peter has held senior finance positions across the Group, including in Group Finance, Business and Consumer Banking, Business and Technology Services, Treasury and Financial Markets. He commenced his career at Deloitte Touche Tohmatsu.
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