CommBank & Telstra Fraud Tech, Valentine’s Phishing Scams, and Cybercrime Threats

From banks and telcos teaming up to fight fraud, to cybercriminals exploiting Valentine’s Day for scams, and the growing threat of cybercrime on national security—let’s break it all down and, most importantly, talk about what you can do to stay ahead. Hello and welcome back. I’m Leigh Kefford, lets dive in.

The Commonwealth Bank of Australia (CommBank) and Telstra have expanded their partnership to introduce Fraud Indicator Technology, designed to detect and prevent identity fraud in real-time. The technology works by monitoring mobile service activity and identifying unusual patterns that may indicate fraudulent activity—such as when a scammer takes over a phone number to access a victim’s bank account.

By integrating mobile network and banking data, this system can help detect fraudulent activity before financial losses occur. CommBank and Telstra estimate that this will increase fraud detection by 25%, significantly reducing identity theft and financial scams targeting Australian businesses and individuals.

Businesses should implement multi-factor authentication (MFA) on all financial transactions to add an extra layer of protection against fraud, even if a phone number has been compromised.

Cybercriminals love to take advantage of holidays and special events, and Valentine’s Day is no exception. Recent research has found that in January 2025 alone, over 18,000 new Valentine’s Day-related domains were registered—many of them designed for phishing scams, fake online stores, and malware distribution.

Scammers often send emails or text messages posing as florists, jewelry stores, or romantic giveaway promotions, tricking people into clicking malicious links that steal credit card details and personal information. Some campaigns also target businesses by impersonating HR teams or online retailers, sending fake “Valentine’s Gift” emails that deploy malware upon opening.

Businesses should remind employees not to open unexpected emails, click on links, or download attachments from unknown sources, especially around seasonal events like Valentine’s Day.

Threat Google’s Threat Intelligence team has issued a warning: Cybercrime is no longer just a financial risk—it’s a national security threat. Criminal hacking groups are using state-sponsored techniques and infrastructure, making it harder to distinguish between financially motivated cybercrime and nation-state attacks.

Many of these cybercriminals are now targeting critical infrastructure, government agencies, and major corporations, disrupting essential services and stealing sensitive data. Google has highlighted the rise of ransomware gangs collaborating with foreign intelligence groups, making the landscape more dangerous than ever.

That’s a wrap for today’s episode, and if you want even more cybersecurity insights, check out the show notes and other resources at sittingduck.com.au. If today’s discussion has you thinking about your own business security, here’s what to do next: Book your free Empower Systems Assessment at nationalpc.com.au—it’s the easiest way to understand where your business is vulnerable and how to fix it.

Check out my audiobook, Sitting Duck – The Phone Call You Don’t Want to Receive. It’s a short but powerful listen about how a Business Email Compromise attack unfolds and the real-world impact it has on businesses. Available now on Spotify and leading audiobook platforms.

Until next time, stay safe, stay informed, and don’t be a sitting duck!