Commonwealth Bank of Australia (Commbank) partners with Apate.ai, a cyber intelligence company spun from Macquarie University, using advanced AI technology to enhance fraud protection.
The collaboration leverages something closer to real-time fraud intelligence to protect both Combank customers and the wider Australian masses from fraud.
Commbank has integrated a network of thousands of AI-powered bot profiles developed by Apate.ai.
These bots are designed to interact with scammers via text messages and voice calls, gathering important intelligence to disrupt fraudulent operations.
“Every day, apate.ai will deploy thousands of conversational AI bots to disrupt scammers targeting unsuspecting Australians via text-based conversations and voice calls,” the initiative elaborated.
The system is based on a successful pilot program launched by Macquarie University in late 2024.
James Roberts, General Manager of Commbank Group Scams, said:
“Every minute when a con man is involved in a bot is a moment when he isn't targeting Australians.”
The bots will engage fraudsters in long-term interactions, supplying them directly to Commbank's fraud prevention system, and collecting data that supports the broader prevention ecosystem across the industry.
Intelligence collected by Apate.AI allows Commbank to discover new fraud patterns, improve its detection mechanisms, and contribute to industry-wide efforts to combat fraud.
Furthermore, this approach strengthens the bank's ability to respond to evolving fraud tactics driven by advances in AI.
The initiative is part of a collaboration involving telecom providers, technology companies and government agencies to share intelligence and make Australia a more rigorous target for fraudsters.
Professor Dali Kaafar, CEO and founder of Apate.ai, said:
“Our bots share real-time intelligence close to partners like Commbank to combat fraud, protecting consumers and businesses, making it even more difficult for fraudsters to run.”
Recently, Commbank has moved its data platform to Amazon Web Services (AWS) to improve integration with banking channels and provide a personalized experience for its customers and employees using data, AI, and analytics.
