Australia’s innovative BioCatch Trust™ network has intercepted over $60 million in attempted fraud within its first three months, offering a scalable model for global banks to combat rising financial crime threats.
A recent report from behavioural biometrics company BioCatch has highlighted the substantial success of Australia’s innovative real-time financial crime intelligence-sharing network, BioCatch Trust™ Australia, in detecting over $60 million in attempted fraud within just three months. Launched in November 2024, this pioneering network now protects more than 85 per cent of the country’s banked population and demonstrates an effective model for combating financial crime that has significant lessons for other markets, including the UK.
According to BioCatch’s 2025 Digital Banking Fraud Trends in Australia report, the network analysed more than 180 million payments worth over $330 billion in the third quarter of 2025 alone. The standout capability of this system lies in its proactive interception of social engineering scams, which often remain difficult to detect until funds are irreversibly lost. BioCatch revealed that in over 70 per cent of transactions, the network successfully retrieved the beneficiary’s account profile, enabling the assessment of end-to-end payment risk before any money leaves the sender’s account. This early-warning approach substantially enhances the ability to stop scams pre-emptively, safeguarding customers from fraudulent losses.
Tim Dalgleish, BioCatch’s Senior Vice President of Emerging Solutions and Network, emphasised this achievement, noting that the network’s ability to intervene before funds transfer is crucial for halting social engineering scam payments. Such a capability is particularly pertinent for the UK, where Authorised Push Payment (APP) fraud continues to pose a significant and growing challenge. Authorised Push Payment fraud losses in the UK increased by 12 per cent, reaching £257.5 million in the first half of 2025, underscoring the urgent need for more effective, real-time detection mechanisms similar to those operational in Australia.
Beyond scam detection, the report also points to a 20 per cent reduction in money laundering activities among BioCatch’s Australian clients, alongside a 30 per cent decrease in investment scams targeting younger individuals aged 36 and under. However, the evolving threat landscape remains complex. The data reveals a dramatic 47 per cent surge in account takeover attempts in the past year, with incidents more than doubling in just six months. This escalation is largely attributed to organised criminal groups based in Southeast Asia, which operate sophisticated scam compounds integrated with Chinese organised crime syndicates. Emerald Sage, principal intelligence advisor at OSINT Combine, highlighted the organised nature of these compounds, describing them as “entrenched infrastructures” that exploit governance gaps and contribute to a vast, interconnected criminal economy.
Among commentators, Toby Evans, head of economic crime at the Australian Payments Network, advocates for embedding a principle of “Safety by Design” into payment system architecture. Evans argues that as digital payments evolve, incorporating AI-driven e-commerce and cross-border fast payment links, the integration of safety measures from the outset is essential to maintain secure, innovative, and resilient payment environments without transferring risk to consumers.
The collaborative success of BioCatch Trust™ Australia is further strengthened by the recent inclusion of major financial institutions such as Macquarie Bank, Australia’s fifth-largest bank. Macquarie’s participation enhances the network’s reach and effectiveness in real-time fraud detection. Since its inception, the network has not only processed an enormous volume of payments but has also earned industry recognition; it received the 2025 Fraud Impact Award for Best Scam and APP Fraud Prevention Solution from Datos Insights for its innovative approach and low false positive rate.
The Australian example offers a compelling case study for other nations grappling with financial crime, particularly the UK. By combining shared behavioural, device, network, and transaction intelligence across institutions, BioCatch Trust delivers a collective defence mechanism that identifies and halts financial crime before funds move, a model that could significantly mitigate the rising tide of fraud faced elsewhere. As the threat landscape becomes increasingly sophisticated and globalised, this form of real-time intelligence sharing represents a key evolution in the fight against financial crime.
- https://thefintechtimes.com/australias-60m-fraud-prevention-success-offers-a-roadmap-for-the-uk/ – Please view link – unable to able to access data
- https://www.biocatch.com/press-release/aussie-intelligence-sharing-exposes-more-than-60-million-in-fraud-attempts-in-three-months – BioCatch Trust™ Australia, launched in November 2024, now protects over 85% of the nation’s banked population. In Q3 2025, it analysed over 180 million payments totalling more than $330 billion, uncovering over $60 million in attempted fraud. The network successfully retrieved beneficiary account profiles in over 70% of transactions, assessing end-to-end payment risk before funds left the sender’s account. This proactive approach is particularly relevant for the UK, where Authorised Push Payment (APP) fraud losses rose by 12% to £257.5 million in the first half of 2025, highlighting the need for more effective detection mechanisms.
- https://www.biocatch.com/biocatch-report-2025-digital-banking-fraud-trends-in-australia – The 2025 Digital Banking Fraud Trends in Australia report reveals that BioCatch Trust analysed over $60 million in fraudulent payment attempts between July and September 2025, uncovering up to 30% of social engineering scams previously undetected. In more than 70% of transactions, the network reliably retrieved the beneficiary’s user profile, aiding banks in identifying potential bad actors. Despite an 8.1% drop in social-engineering scam attempts, this scam type remains the most prevalent, with phone and purchase scams leading the way. Account takeover activity surged by 47% year over year, with cases more than doubling in the last six months, underscoring sustained pressure from organised criminal groups.
- https://www.biocatch.com/press-release/biocatch-trust-wins-datos-insights-impact-award-for-best-scam-prevention-solution – BioCatch Trust™ has been awarded the 2025 Fraud Impact Award for Best Scam and APP Fraud Prevention Solution by Datos Insights. Launched in Australia in November 2024 and in Argentina in May 2025, BioCatch Trust enables member banks to assess risk on the receiving side of transactions before any money leaves the sender’s account. This approach allows sending institutions to freeze high-risk transactions with minimal false positive rates, proactively protecting retail banking customers from social engineering scams. In Australia, BioCatch Trust now protects more than 80% of the country’s online banking population, processing millions of transactions daily and evaluating $320 billion in total payments in its first 10 months.
- https://www.biometricupdate.com/202511/real-time-intelligence-sharing-reveals-millions-in-attempted-bank-fraud – In Q3 2025, BioCatch’s network processed over 180 million payments worth more than $330 billion, uncovering over $60 million in attempted fraud. In more than 70% of transactions, the system successfully retrieved the beneficiary’s account profile, allowing risk assessment before funds were transferred. The findings were published in BioCatch’s new report, 2025 Digital Banking Fraud Trends in Australia, which observes a 20% decline in money laundering activity among its Australian customers. However, the report warns of rising threats, including a 47% increase in account takeover attempts over the last year, with incidents more than doubling in the last six months.
- https://www.biocatch.com/trust – BioCatch Trust™ is the world’s first inter-bank, real-time financial-crime intelligence network that unites financial institutions in the fight against fraud and money laundering. By connecting banks through a shared layer of behavioural, device, network, and transaction intelligence, BioCatch Trust delivers a collective defence, empowering members with two-sided visibility across payments and helping them detect and stop financial crime before funds move. In Australia, BioCatch Trust now protects more than 85% of banking customers, processing millions of transactions daily and evaluating $320 billion in total payments in its first 10 months.
- https://www.macquarie.com/au/en/about/news/2025/macquarie-bank-joins-biocatch-trust.html – Macquarie Bank has joined BioCatch Trust™ Australia, the world’s first inter-bank, behaviour and device-based, fraud and scams intelligence-sharing network. Launched in November 2024 with five inaugural members, the network enables member banks to assess risk on the receiving end of transactions before any money leaves the sender’s account. In its first 10 months, Trust Australia evaluated $500 billion in total payments and saved customers at member banks millions of dollars in potential losses. The addition of Macquarie, Australia’s fifth-largest bank, further amplifies the power of the network as it collaborates to detect and prevent financial crime.
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
8
Notes:
The narrative is based on a recent press release from BioCatch dated November 26, 2025, detailing the success of BioCatch Trust™ Australia in detecting over $60 million in attempted fraud within three months. ([biocatch.com](https://www.biocatch.com/press-release/aussie-intelligence-sharing-exposes-more-than-60-million-in-fraud-attempts-in-three-months?utm_source=openai)) This indicates high freshness. The report also highlights a 20% reduction in money laundering activities among BioCatch’s Australian clients, alongside a 30% decrease in investment scams targeting younger individuals aged 36 and under. ([biocatch.com](https://www.biocatch.com/biocatch-report-2025-digital-banking-fraud-trends-in-australia?utm_source=openai)) The narrative’s focus on these recent developments suggests originality. However, the emphasis on the UK’s potential adoption of similar measures may be speculative, as no direct evidence is provided. The report does not mention the UK’s financial crime landscape, making the comparison potentially unfounded. Additionally, the narrative includes updated data but recycles older material, which may justify a higher freshness score but should still be flagged.
Quotes check
Score:
7
Notes:
The narrative includes direct quotes from BioCatch’s Senior Vice President of Emerging Solutions and Network, Tim Dalgleish, and other individuals. A search reveals that these quotes are consistent with those found in BioCatch’s press release dated November 26, 2025. ([biocatch.com](https://www.biocatch.com/press-release/aussie-intelligence-sharing-exposes-more-than-60-million-in-fraud-attempts-in-three-months?utm_source=openai)) This suggests that the quotes are reused from the press release. The inclusion of these quotes without additional context or new insights may indicate a lack of originality.
Source reliability
Score:
6
Notes:
The narrative originates from The Fintech Times, a publication that primarily focuses on fintech news and analysis. While it is a known outlet, it is not as widely recognized as major news organizations like the Financial Times or Reuters. This raises questions about the reliability and credibility of the source. Additionally, the narrative heavily relies on BioCatch’s press release, which may present a biased perspective. The lack of independent verification or additional sources further diminishes the reliability of the information presented.
Plausability check
Score:
5
Notes:
The narrative makes several claims, including the detection of over $60 million in attempted fraud within three months and a 20% reduction in money laundering activities among BioCatch’s Australian clients. While these figures are presented in BioCatch’s press release, there is no independent verification or corroboration from other reputable sources. The comparison to the UK’s financial crime landscape is speculative and lacks supporting evidence. The narrative also includes direct quotes from BioCatch’s press release without additional context or new insights, which may indicate a lack of originality. The reliance on a single source and the absence of independent verification raise concerns about the plausibility of the claims made.
Overall assessment
Verdict (FAIL, OPEN, PASS): FAIL
Confidence (LOW, MEDIUM, HIGH): MEDIUM
Summary:
The narrative heavily relies on BioCatch’s press release, presenting information without independent verification or additional context. The speculative comparison to the UK’s financial crime landscape lacks supporting evidence, and the reuse of quotes from the press release without new insights suggests a lack of originality. The reliance on a single source and the absence of corroboration from other reputable outlets diminish the credibility and reliability of the information presented.