Australian Bank Spots Scams via How Users Hold Their Phones

National Australia Bank seems to think that monitoring the angle customers hold their phones will offer extra protection against scammers. "Speaking during the Australian Banking Association Conference in Melbourne Wednesday (June 26), CEO Andrew Irvine said the lender introduced more 'friction' to payments processes and new predictive protection tools to spot scammers," reports PYMNTS.com, citing a (paywalled) Bloomberg report. From the report: "We've added tooling that looks at biometrics and the way you actually interact with your devices and how you think about keystrokes," said Irvine, per the report. "If these things are different to how you've used your phone in the past, our intelligence will kick in." Irvine, who called fraudsters the "scourge of our times," also noted that Australia is one of the few countries where bank fraud has declined, the report said. Still, he said that as scammers have embraced new technology like artificial intelligence, banks have had to shift from making payments fast and simple to adding more steps to protect against fraudulent transactions, per the report. "These threat actors go where the money is," Irvine said, according to the report. "You want to be the best alarm system in the street and right now Australia's leading the way."

Read more of this story at Slashdot.