Trust Australia evaluates $320 billion in payments with exceptional scam-detection rates
NEW YORK (Aug. 20, 2025) — Datos Insights today announced BioCatch Trust™ as the winner of the 2025 Fraud Impact Award for Best Scam and APP Fraud Prevention Solution. Launched in Australia in November of 2024 and then Argentina in May of 2025, BioCatch Trust™ enables member banks to assess risk on the receiving side of a transaction before any money leaves the sender’s account. This allows the sending institution to freeze high-risk transactions with minimal false positive rates, proactively protecting retail banking customers from those social engineering scams where the scammer manipulates the victim outside of a digital banking session (often via email, text, or social media).
“BioCatch Trust™ addresses a gap in scam prevention by enabling real-time, cross-institutional intelligence sharing while maintaining privacy protections,” said Jim Mortensen, Strategic Advisor in Fraud & AML at Datos Insights. “The solution's ability to assess risk on the receiving side of transactions represents a meaningful advancement in how financial institutions can collaborate to prevent fraud. This approach allows for more proactive intervention compared to traditional detection methods that primarily focus on post-transaction analysis.”
In Australia, BioCatch Trust™ now protects more than 80% of the country’s online banking population, processing millions of transactions every day. The network reliably (in more than 70% of transactions) identifies those scam types (romance, investment, business email compromise, purchase, etc.) that member banks previously struggled to detect and does so with an extremely low false-positive rate. The network evaluated $320 billion ($500 billion AUD) in total payments in its first 10 months, evaluating risk and delivering insights in less than 500 milliseconds, with a world-class scam-detection rate. Already, it’s saved Australian consumers millions of dollars in potential losses from a variety of scam types, including investment, romance, and business email compromise (BEC) scams.
“Effectively combatting financial crime today and in the future requires collaboration,” BioCatch CEO Gadi Mazor said. “The founding members of BioCatch Trust™ — Australia and New Zealand Banking Group (ANZ), Commonwealth Bank of Australia (CBA), National Australia Bank (NAB), Suncorp Bank (Norfina Limited), and Westpac in Australia, and Banco Galicia, Naranja X, and Santander in Argentina — understand this better than anyone and are already reaping the benefits of network-based intelligence-sharing.”
A panel of fraud and AML industry experts and Datos Insights strategic advisors selected BioCatch Trust™ for this honor, citing “its ability to solve multiple industry challenges simultaneously,” providing visibility into institutional blind spots exploited by scammers and “creat[ing] a collaborative framework that strengthen[s] the financial ecosystem.” Datos Insights chose winners it felt were bringing the financial services industry closer to triumphing over fraud, money laundering, and other illicit activities.
“Bringing BioCatch Trust™ to life took a huge amount hard work and collaboration across the board — from data scientists, analysts, engineers, and execs at both BioCatch and our partner banks,” said Tim Dalgleish, SVP of Emerging Solutions & Network at BioCatch. “We’re genuinely grateful for the teamwork that made it happen, and it’s great to see Datos Insights recognize what we’ve built together.”
Now in its fifth year, the Fraud & AML Impact Awards identify the organizations and vendors whose new and disruptive financial crime solutions most effectively and efficiently counter escalating financial crime threats. Submissions are evaluated on innovation, competitive advantage, market need, financial crime risk mitigation, impact on both customer experience and operation efficiency, integration and scalability, and future roadmap.
You can read the complete Datos case study here.
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About BioCatch:
BioCatch prevents financial crime by recognizing patterns in human behavior, continuously collecting more than 3,000 anonymized data points – keystroke and mouse activity, touch screen behavior, physical device attributes, and more – as people interact with their digital banking platforms. With these inputs, BioCatch's machine-learning models reveal patterns in user behavior and provide device intelligence that, together, distinguish the criminal from the legitimate. The company’s Customer Innovation Board – an industry-led initiative in partnership with American Express, Barclays, Citi Ventures, HSBC, National Australia Bank, and others – collaborates to pioneer innovative ways of leveraging customer relationships for improved fraud detection. Today, more than 30 of the world's largest 100 banks and 287 total financial institutions deploy BioCatch solutions, analyzing 16 billion user sessions per month and protecting more than 532 million people on more than 1.6 billion devices around the world from fraud and financial crime.
About Datos Insights:
Datos Insights delivers the most comprehensive and industry-specific data and advice to the companies trusted to protect and grow the world’s assets, and to the technology and service providers who support them. Staffed by experienced industry executives, researchers, and consultants, we support the world’s most progressive banks, insurers, investment firms, and technology companies through a mix of insights and advisory subscriptions, data services, custom projects and consulting, conferences, and executive councils. Visit datos-insights.com to learn more.
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PR contact:
Mac King
BioCatch director of global marketing communications
Mac.King@BioCatch.com