A Telstra venture working with CommBank developed fraud detection technology that can securely share data about unusual mobile service usage to help protect consumers from identity theft. 

The fraud indicator service went live in Australia in early February and is expected to improve the bank’s detection rate for fraudulently opened accounts by more than 25 per cent for joint CommBank and Telstra customers.

In a statement, Quantium Telstra and CommBank noted the move expands their anti-scam and fraud collaboration. The operator formed a joint venture in 2022 with data and analytics company Quantium.

The JV said it will soon make the service available to additional partners.

Quantium Telstra CEO Sandy Cameron explained fraudsters show some distinctive behaviours and patterns in mobile phone usage. “When this information is combined with an organisation’s own insights and analysis, fraud indicator becomes a powerful tool to prompt interventions, potentially disrupting fraud attempts earlier.”

She added by accessing insights on how a fraudster uses mobile service, CommBank can better assess the risk that the person is a bad actor and potentially stop fraudulent accounts from being opened.

James Roberts, GM of group fraud at CommBank, stated it is focused on helping customers stay safe by improving early detection and prevention, with measures ranging from sharing behavioural and device-based intelligence with other banks in real-time to collaborating across other industries.

Last year, the pair launched a scam indicator which is designed to detect and intercept suspected scam calls in real time, covering both mobile and landlines.