New payment services being offered by the banks include PAY ID, which allows you to send your payment to another person via a phone number or an email address. If you confirm then if the details are correct, you should receive the money in under a minute.
But this connection from name to email or phone creates a link which can be useful information for scammers….
Image: Image : Shutterstock – Tiwaporn Khemwatcharalerd
Produced By: Roderick Chambers
Featured In Story: Professor Stefan Trueck ARC Future Fellow Dept. Actuarial Studies, Centre for Risk Analytics at Maquarie University
First aired on The Wire, Wednesday 1 May 2024