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

Microsoft to Unveil New AI Models at Build 2026

Microsoft is set to unveil new AI models for Windows and a "super app"...

$7M Lost in Weekend DeFi Hacks: Four Projects Hit

A spate of weekend hacks on DeFi platforms and bridges resulted in combined losses...

Ethereum Whale Sells $136M as ETH Dips Below $2,000

An early Ethereum whale sold a combined $136 million in ETH as the price...

China-Backed Operation Dragon Weave Targets Czechia, Taiwan

A China-aligned cyber espionage campaign, Operation Dragon Weave, has targeted officials and citizens in...

Druckenmiller Sells $153M in Google Stock Amid AI Valuation

Billionaire investor Stanley Druckenmiller sold $153 million in Alphabet Class A shares.The sale reflects...

Must Read

Top 5 Testing Tools For Blockchain Applications in 2022

Blockchain apps have been adopted popularly by some prominent industries due to its being a decentralized-designed technology. Furthermore, these apps eliminate the risks that...
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