Commonwealth Bank has reported itself to police over $1 billion worth of possible mortgage fraud, claiming there’s been a ...
Opinion
1dOpinion
Why Commonwealth Bank’s $1 billion suspected loan fraud should change how we bank and do business
If you’re one of CommBank’s 17 million customers, don’t panic. But given how well AI can now fake documents, all banks will need to rethink their security.
The bank’s application processes and the way documents are verified leave it vulnerable. The sector must lift its game to protect the integrity of the market.
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