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

Binance Shuts Down Mining Pool and Cloud Mining Services Nov. 10

Binance will discontinue its mining pool and related services at 07:00 UTC on Nov....

FTC spares Kalshi, Polymarket in sports gambling probe

The FTC probe into deceptive practices in online sports gambling will target sportsbooks like...

Norway Fines Microsoft’s Xandr $9.6M Over Grindr Data

Norway's Data Protection Authority fined Microsoft's Xandr €8.6 million ($9.62 million) for illegally sharing...

Nvidia stock falls 1.29% after Microsoft AI chip revelation.

NVIDIA shares closed 1.29% lower on Monday after Microsoft unveiled its Azure Maia 300...

ENS DAO to vote on ENSv2 protocol upgrade for public mainnet

ENS founder Nick Johnson submitted an executable draft proposal to activate ENSv2 on the...

Must Read

How to Check The Rarity of An NFT

Whenever you invest in an NFT collection, you might have noticed that some NFTs are more expensive than others. NFT collections are often made...
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