Westpac has rolled out a new security feature called SafeBlock, allowing customers to immediately freeze all new transactions and account activity if they suspect their account has been compromised. The service is now available to customers through the bank’s online banking portal and the Westpac app.
This initiative is part of the Australian bank’s ongoing effort to fight scams, which has already helped reduce scam losses by so far in 2025 and prevented over $300 million in losses over the past year. Westpac CEO Carolyn McCann emphasized the need for “smarter tools” as scammers continually evolve their tactics. Separately, Westpac noted that remote access scams alone cost Australians A$106 million in 2024. The bank also recently expanded its Confirmation of Payee service to institutional and government clients.
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