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Westpac Deploys Real-Time AI to Combat Scammers

Westpac

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Date Published
28 May 2025
Priority Score
2
Australian
Yes
Created
29 May 2025, 06:37 pm

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<a href="https://news.google.com/rss/articles/CBMiowFBVV95cUxNMzZNTDBzb0hzR1dxbGhydVBiai14ekpMcFZTdFFLWVBzOFhURFhvSFBnRnZVV3JsZmdKM1ZBZzRWNDZIa2thMzF6Ml9aeFR6eTJuUE5oTVRVNGlwVjBidGtacUk0c25xcDNna3NYMk1CSEV0LXctWWk5VVZzMWNZaWVKSXdyZjllQ1lLYW9XNzVPRjF0YmgzSGZLaWVBejVaXzU40gGoAUFVX3lxTFB1ZE9yYTB3SjQ0aHdFRjl1a0dnS21JdmhRNGJoTVNsTEJTeWM3NFp0Vm95UGY2Uk5iYWQwOEtOVWVncG9qbU9EejBjX0U2SHR1cGEzbTFJUXlUaHlEMHhDYmxPc2l6S1pkQU5nNWdKcTBKb1EweTJNb2ZrZ1Uycmh2eHJVQ2poOGxaYS1Jc2Q2cktzUzBOeHNnUUZ5eGFhYWJCbERBMGtpNw?oc=5" target="_blank">Westpac deploys real-time AI to take on scammers</a>&nbsp;&nbsp;<font color="#6f6f6f">Westpac</font>

Summary

Westpac has introduced a real-time AI-powered call assistant aimed at intercepting scams during live customer calls. This innovative tool detects potential scams by analyzing customer conversations and supports operators in rapidly addressing fraudulent activities. Although still in the pilot phase, early results indicate improved scam detection and enhanced customer service. The AI assistant is part of Westpac's broader commitment to fraud prevention, having saved customers over $500 million through various digital security initiatives. While the article emphasizes the importance of AI in financial security, it focuses more on operational advancements rather than addressing catastrophic risks directly.

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Skip to main contentSkip to main navigationSkip to access and inclusion pageSkip to search inputWestpac WireMaking News202505Westpac deploys real-time AI to take on scammersWestpac deploys real-time AI to take on scammers#scams#westpacMarina Gainulina10:00am May 29 2025Westpac is piloting a new AI-powered call assistant aimed at fighting scams in real time. (Getty)SHAREEmail. Opens in new windowLinkedIn. Opens in new windowFacebook. Opens in new windowTwitter. Opens in new windowTOPMove to top of the pageWestpac has introduced a new AI-powered call assistant aimed at tackling scams as they happen.Currently in pilot with the bank’s specialist scam and fraud team, the tool is designed to identify signs of a scam during live customer calls and support operators in responding swiftly and consistently.The clever tech can detect indications the customer may be about to transfer money to a scam, based on their phone conversation with the bank. It can even detect whether a customer is being coached, or told what to say, by a scammer in the background.“Our customer service specialists are often trying to solve complex puzzles with many missing pieces,” says Westpac CEO Anthony Miller. “This AI tool is helping fill some of those gaps and is aiding our teams in real-time so they can more effectively respond,” he says.Early results show the AI tool is already making a difference - enabling faster scam detection and improving the quality of customer interactions. Operators involved in the pilot report feeling more equipped to handle high-pressure situations with clarity and care.The assistant is being developed through Westpac’s broader ‘AI Accelerator’ program, which is focused on embedding intelligent automation across the bank.Over the past two years, Westpac has invested more than $100 million in scam prevention, saving customers over $500 million.Now, the new AI assistant joins a growing suite of digital security tools, including:Westpac SafeBlock– lets customers instantly freeze accounts.Westpac SafeCall– delivers verified calls through the app to prevent spoofing.Westpac SaferPay– prompts customers with questions before high-risk payments.Westpac Verify– flags mismatched account names during transfers.Dynamic CVC– rotates digital card security codes every 24 hours.Cryptocurrency and merchant blocks– targets high-risk transactions.Call spoofing prevention– with 94,000 numbers blocked from impersonation so far.Inbound payment detection– scans incoming funds for scam signals.Behavioural analytics– helps identify remote access scams.While still in its early stages, the AI assistant is already reshaping how Westpac approaches fraud prevention.It reflects a broader shift in banking - from reacting to scams after the fact to proactively anticipating and intercepting them in real time.Marina GainulinaMarina GainulinaMarina Gainulina (she/her) is a Content Producer for Westpac Wire. Graduating with a Bachelor of Communications & Media (Journalism) degree, Marina has spent a decade as a lifestyle journalist and luxury marketer, crafting commercial and editorial content for global brands including Tiffany & Co., Hugo Boss, NIVEA and GRAZIA.Don't miss#scamsSCAM SPOT: How to avoid the money mule trapByBen YoungHead of Fraud PreventionStrong lending growth points to regional business renaissance#smeStrong lending growth points to regional business renaissanceByJames ThornhillEditor, Westpac Wire#careerCollette Dinnigan: the fashion icon’s new chapterByMarina GainulinaandSarah WilliamsonStay connected with Westpac WireSubscribe to our newsletter and follow us onLinkedIn,Facebook,TwitterandInstagram.SubscribeRelated articles#scamsMeet the vigilante ex-cop who catfishes the catfishByMarina GainulinaContent Producer#scamsSCAM SPOT: Hobbying investors are a rich target for scammersByBen YoungHead of Fraud Prevention#scamsNew Westpac technology to lock out scammersByBrooke DavieSenior Manager, Media Relations10{"topicSelector":[{"tagId":"newsroom:topics/economy","name":"economy","description":"Explore more Economy insights at Westpac Wire. 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