Macquarie Bank joined the BioCatch Trust Australia, an inter-bank behavior and device-based fraud and scams intelligence-sharing network, according to a Monday statement from Macquarie Group (ASX:MQG).
ANZ Group Holdings (ASX:ANZ, NZE:ANZ), Commonwealth Bank of Australia (ASX:CBA), National Australia Bank (ASX:NAB), Suncorp Bank, and Westpac Banking (ASX:WBC, NZE:WBC) are inaugural members of the network.
The network assesses potential risks associated with the accounts to which customers direct their domestic online payments, and if it identifies risks associated with a receiving account, it provides this intelligence to the sending bank in real time, allowing the institution to review the transaction before the money leaves the sender's account.
Macquarie's shares rose 2% in recent trading on Monday.
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