Fraud Prevention Webinar
ABIB members held a video meeting with Monoova, a leading payments solutions provider, to discuss strategies for reducing and preventing fraud targeting Bitcoin Exchanges. This meeting was a key initiative in ABIB’s ongoing efforts to enhance security and protect consumers.
During the meeting, ABIB and Monoova explored several crucial areas related to fraud prevention, including:
- Transaction monitoring systems between banks and exhanges that detect and prevent suspicious activities.
- Implementing advanced identity verification (KYC) processes to that comply with AUSTRAC’s requirements.
- Collaborating on best practices for fraud detection and reporting, tailored specifically to Bitcoin-only Exchanges.
The meeting reflected ABIB’s commitment to fostering a secure and fraud-resistant environment for Bitcoin operators and users in Australia.