Monoova and Commonwealth Treasury unpack Scam Prevention in Australia

As payments continue to evolve, so too must the approach to scam prevention.

This week, Monoova CEO Bianca Bates joined Claire McKay, Assistant Secretary of the Payments, Scams and Innovation Branch at the Commonwealth Treasury, and Rob Neely, Founder and Managing Director of Securely Group and President of the Anti-Scam Association Australia, on the FinTech Australia podcast to discuss Australia's proposed Scams Prevention Framework and what it will take to build a truly ecosystem-wide defense against scams.

Listen to the conversation in full

What the Scams Prevention Framework sets out to do

Australia's Scams Prevention Framework, coming into operational effect in March 2027, in short, will put new obligations on banks, telcos and digital platforms to prevent, detect and disrupt scams, and give victims a clearer path to compensation when scams do get through. Exactly how those obligations apply to each sector is still being worked out, with rules rolling out through 2026.

Strong collaboration across government, banks, fintechs, payment providers, digital platforms and the financial ecosystem at large will help improve intelligence sharing and support safer payment experiences for businesses and consumers. This conversation covered a lot of ground on how the Framework fits in with Australia's existing controls, which platforms still sit outside it, and whether more friction at the point of payment is really the answer.

Monoova's CEO Bianca Bates welcomed the Framework as a significant step for the industry:

"The Scams Prevention Framework is a welcomed addition to the Australian payments infrastructure, the control environment and the regulatory landscape to prevent fraud and scams."

She also made the point that effective prevention starts well before a scam ever reaches a payment:

"When you think about scams and fraud, it generally starts way before the payment is involved."

Claire McKay, Assistant Secretary of the Payments, Scams and Innovation Branch at the Commonwealth Treasury, brought a regulator's view of how the National Anti-Scam Centre tracks emerging trends, and why no single organisation can carry this alone. She also raised one of the harder truths in scam prevention conversation, noting that anyone can be a victim of a scam:

The message doesn't always land, because many people assume "I will never be a victim of a scam."

Rob Neely, Founder and Managing Director of Securely Group and President of the Anti-Scam Association Australia pushed the conversation further, questioning where the gaps scammers keep finding across banks, fintechs and digital platforms actually sit and why the human cost of scams goes well beyond the financial loss:

"The terrible side of scams is it's not just about money."

He challenged the idea of where the current blind spot sits and on where the industry should focus next, saying "Identity is going to be the key". The conversation covered plenty more, including how the Framework needs to evolve alongside emerging risks like agentic AI and eSIMs, and the case for and against added friction on first-time transfers. Listen to the full episode above for the details.

Conversations like this one will continue in person at Intersekt 2026, FinTech Australia's flagship fintech festival, running this September 3rd and 4th 2026 at Crown Promenade Melbourne. Catch Monoova there alongside 1,000+ fintechs, founders, regulators, investors and industry leaders.

Read the Australian Government's Scams Prevention Framework in full at Treasury.gov.au

About FinTech Australia

FinTech Australia is the not-for-profit peak industry body for the Australian fintech sector, representing more than 400 companies nationwide. Its vision is to make Australia the leading market for fintech innovation and investment by working with government, industry and the fintech community to create a supportive environment for growth and global competitiveness.