AI-generated scams which are ahead of bank technology, and inadequate bank communications - further reasons to choose cheques over electronic transactions.

There are now high-volume scams, generated by Artificial Intelligence, that are increasingly difficult to detect, and have made it even harder to keep money with electronic access safe.

Unfortunately, this scam technology remains ahead of the banks’ security systems.

Inadequate or unreliable bank communications further exacerbate this.

These are further reasons to prefer cheques over electronic transactions.

Please see the following article -

https://www.msn.com/en-au/money/news/huge-problem-facing-aussie-banks/ar-BB1kVNKi 

Regards,

David Miller.