Commonwealth Bank of Australia Deploys Agentic AI System to Combat Fraud, Scams

MT Newswires Live08:54

Commonwealth Bank of Australia (ASX:CBA) has launched a new agentic artificial intelligence (AI) system that continuously analyzes payments data to identify emerging fraud patterns and propose real-time detection rules, strengthening its ability to intercept scams faster while maintaining human oversight, according to a Friday statement by the bank.

The system leverages the bank's wider AI infrastructure, which analyzes over 80 million signals and processes about 20 million payments daily, enabling it to issue over 40,000 proactive fraud alerts to customers each day.

The initiative, part of the bank's AU$1 billion annual security investment, has already reduced fraud losses by over 20% in the early year and helped generate or update around three-quarters of card fraud rules.

The bank's shares fell 1% in recent Friday trade.

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