Australia's largest bank, Commonwealth Bank of Australia (CBA), has announced that it would ban some payments to certain crypto exchanges as part of its new anti-scam policies. The bank has yet to specify the crypto exchanges the new measures will apply to. - The Aussie bank has also started holding certain payments to crypto exchanges for 24 hours.
- Also, the country's largest lender will implement a 10,000 Australian dollar (~$6,666) transfer limit for crypto trading platforms on a monthly basis.
- James Roberts, general manager of CBA's group fraud management services, said customers making payments to crypto exchanges currently face a significantly higher risk of being scammed.
Last month, another Australian bank, Westpac, similarly blocked its clients from making payments to some crypto exchanges, including the largest crypto exchange Binance, to reduce losses from scams. - Several U.K.-based banks also recently restricted payments to crypto exchanges for their customers this year, including HSBC, Nationwide, NatWest, Barclays, Banco Santander, and Lloyds Banking Group.
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