BTC $71,807
2026 Bull Run Is Building Start trading with 5% OFF all fees
Sign Up Now
BTC $71,807
Bull Run 2026 | 5% Off Fees Open your Binance account today
Sign Up

Commonwealth Bank of Australia Implements Anti-Fraud Measures, Blocks Payments at Cryptocurrency Exchanges

Australia's largest bank takes action to mitigate fraud risks associated with cryptocurrency transactions, following in the footsteps of other financial institutions.

The Commonwealth Bank of Australia (CBA) announced today that it will block certain payments, at some cryptocurrency exchanges as part of a series of new anti-fraud measures that will restrict customers’ cryptocurrency payments, Reuters reports.

- Advertisement -

A spokesman for CBA, the country’s largest bank, declined to name the exchanges for which the measure would apply.

The bank said it will also hold some payments at exchanges for 24 hours from today and will soon introduce a monthly transfer limit of A$10,000 (US$6,666). The CBA spokesman declined to say whether these measures would apply to all exchanges or to some.

“Customers making payments on cryptocurrency exchanges currently face a significantly higher risk of becoming victims of fraud,” James Roberts, general manager of CBA Group’s fraud management services, said in a statement accompanying the decision.

Westpac Bank blocked some cryptocurrency payments last month to reduce fraud losses. It did not identify the exchanges either.

- Advertisement -

The decision comes weeks after Binance Australia told customers they would lose access to deposits and withdrawals in Australian dollars because payment provider Cuscal cut off access.

READ NEXT

Previous Articles:

- Advertisement -
Ad
Altseason Is Loading. Don't watch from the sidelines.
SOL $90.51
DOGE $0.0963
LINK $9.02
SUI $1.00
5% off fees when you sign up
Start Trading
Ad
Pay Less on Every Trade. For Life.
$10K/mo volume Save $60/yr
$50K/mo volume Save $300/yr
$100K/mo volume Save $600/yr
5% off all trading fees when you sign up
Claim Your Discount

Latest News

BitMEX Shuts Down as Perp DEXs Rise to 13.5% Market Share

Bitmex, the exchange that introduced perpetual swaps and 100x leverage, will shut down on...

HYPE plunges 8% as Multicoin leads $150M unstaking queue

Funds have queued approximately $150 million of HYPE for unstaking, with $116 million originating...

AMD Stock Hits All-Time High on $5B Anthropic Deal

AMD stock surged to an all-time high of $561 in pre-market trading after announcing...

Japan’s WebX 2026: Crypto Crime Now Seen as Manageable Risk

Japan's regulatory head start in crypto was evident at WebX 2026, where discussions focused...

BitMEX to shut down on September 23, 2026

Crypto derivatives exchange Bitmex announced it will shut down on September 23, 2026, and...

Must Read

12 Hosting Providers To Buy VPS With Bitcoin: An Expert Guide for 2026

You need a VPS. You want to pay with Bitcoin. Simple enough, right?Not quite. The market for crypto VPS = VPS hosting that accepts...
Ad
Altseason Is Loading. These 4 coins are trending right now.
SOL $92.12
DOGE $0.0950
LINK $9.02
SUI $1.02
5% off spot fees when you sign up
Start Trading