Research found that during 2023, Australians aged 65+ suffered the highest financial losses from scams and were the only age group to see an increase in reported losses.
CommBank and Telstra are expanding their anti-scam technology, Scam Indicator, to cover landlines in a bid to help detect suspicious calls in real-time and avoid money being lost to scammers.
Head of Fraud Management at Commonwealth Bank James Roberts says initially launched in October 2023 for mobile phones, this expansion aims to protect older Australians, who are disproportionately targeted by scammers.
Mr Roberts says the protection of landlines is important to older Australians.
