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

Grok AI Uploads Full Git Repos, Not Just Code Files

xAI's Grok Build CLI was uploading entire Git repositories with full commit history to...

BRICS expands to 10 members, challenges US dollar dominance by 2050

The BRICS bloc, now expanded to 10 members, is positioning itself as a counterweight...

Cathie Wood Boosts Nuclear Stakes: Buys OKLO, XE Shares

Cathie Wood's ARK Investment Management bought 100,854 shares of Oklo Inc. (OKLO) and 545,453...

White House crypto pointman Patrick Witt takes leave for JAG training

White House crypto adviser Patrick Witt will take a leave of absence at the...

BSC Volume Bot Review: What Chain-Specific Quality Looks Like

A BSC tool should be judged by the quality of the testing conditions it...

Must Read

17 Best Audiobooks On Blockchain Technology For Beginners

If you're looking to dive into the world of blockchain technology, you're in for a treat. The field is rapidly evolving and the potential...
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