Optus, one of Australia's leading telcos, has pioneered a new measure to protect customers from SMS scams by collaborating with the Australian Financial Crimes Exchange (AFCX) and major banking institutions. The project, dubbed “Call Stop,” started this week with the goal of putting an end to scam efforts made via fake messages.
The primary objective of Call Stop is to prevent call-back scams, which occur when unwary consumers get emails or text messages claiming to be from their bank. These fraudulent messages usually state that illicit transactions have taken place or that an unauthorized entity has acquired access to their account. Victims are then persuaded to contact the number provided, inadvertently linking them to scammers impersonating their bank. Scammers use a variety of techniques to trick victims into disclosing their account information or transferring payments to an account controlled by the fraudster.
Call Stop intervenes when Optus customers call a known fraudulent number, stopping them from reaching the perpetrator of the scam. Instead, the call is routed to an automated message informing clients of the fraudulent activity. Customers are protected from falling victim to the scam by blocking the call, which states, "The number you have called has been reported as being used for scam activities. For more information, please visit optus.com.au/CallStop."
To help decrease financial scams, Optus has developed Call Stop in partnership with the AFCX and major Australian banks. Scam phone numbers recognized by banks and their clients are added to the list of scams uncovered through the Call Stop program.
Andrew Sheridan, vice president, regulatory & public affairs, Optus, said, “We are always updating our technology and looking for new ways to fight off scams across the country. Call Stop is our latest weapon in this battle and protects customers when they have been tricked into ringing a scam number. The automated message very clearly exposes the scam, and the number is then blocked.”
Optus has been persistent in its efforts to combat scammers, deploying a variety of steps that have resulted in the blocking of 320 million scam calls and approximately 80 million SMS scam messages since December 2020. Optus currently bans approximately five million calls and ten million SMS messages per month.
David Pegley, managing director at ACFCX, said: “Call and Text scams are the cause of significant financial loss and emotional distress to many Australians. These types of scams are on the rise in 2023, and criminals are using more and more sophisticated methods to catch people out.”
With the introduction of Call Stop, Optus, AFCX and major banks are making an important step forward in protecting Australian consumers from SMS scams, adding an extra layer of security and raising public awareness about fraudulent activity.
