Recognizing Excellence: BioCatch Trust™ Wins Award for Best Scam Prevention Solutions in 2025

BioCatch Trust™ Wins the 2025 Fraud Impact Award for Best Scam Prevention Solution

In a significant achievement for digital banking security, BioCatch Trust™ has garnered the prestigious 2025 Fraud Impact Award for its outstanding capabilities in preventing scams and APP fraud. Announced by Datos Insights on August 20, 2025, this recognition highlights the innovative strides taken by BioCatch Trust™ in enhancing financial transaction safety.

Launched in Australia in November 2024 and expanded to Argentina in May 2025, BioCatch Trust™ leverages real-time risk assessment to evaluate transactions before any funds are transferred from the sender's account. This proactive measure is crucial in freezing potentially fraudulent transactions, significantly protecting retail banking customers from social engineering scams, which are frequently conducted through email, text messages, or social media interactions.

Jim Mortensen, a Strategic Advisor in Fraud and Anti-Money Laundering at Datos Insights, underscored the importance of BioCatch Trust™, stating, "This solution fills a critical gap in scam prevention. It facilitates real-time, cross-institutional intelligence sharing while upholding privacy regulations. The ability to assess risk on the receiving end of transactions represents a pivotal advancement in collaborative efforts to curb fraud."

In Australia alone, BioCatch Trust™ safeguards over 80% of online banking users, handling millions of transactions daily. The solution has demonstrated its efficacy by reliably identifying various scam types in more than 70% of the analyzed transactions with a remarkably low rate of false positives. During its initial ten months, it successfully evaluated $320 billion AUD in payments, providing risk insights within 500 milliseconds. This efficiency has already resulted in millions of dollars saved for Australian consumers who might have otherwise fallen victim to scams ranging from investment fraud to romance scams and business email compromises.

According to Gadi Mazor, CEO of BioCatch, ongoing collaboration is crucial in the fight against financial crime. He stated, "The founding institutions—Australia and New Zealand Banking Group (ANZ), Commonwealth Bank of Australia (CBA), National Australia Bank (NAB), Suncorp Bank, and Westpac in Australia; alongside Banco Galicia, Naranja X, and Santander in Argentina—are pioneers in recognizing the value of networked intelligence sharing, and they are witnessing the positive outcomes of these collaborative efforts."

The accolade awarded to BioCatch Trust™ was determined by a panel of experts specializing in fraud detection and regulatory compliance. They highlighted the solution's capability to address multiple challenges within the financial sector while enhancing visibility into scams that exploit institutional vulnerabilities. The award not only acknowledges the technological advancements of BioCatch Trust™ but also emphasizes its potential to strengthen the overall financial ecosystem against illicit activities.

Tim Dalgleish, Senior Vice President of Emerging Solutions Network at BioCatch, expressed gratitude for the collaborative journey that led to this recognition. He remarked, "The realization of BioCatch Trust™ was a result of exceptional teamwork among data scientists, analysts, engineers, and executives across BioCatch and our partner banks. We are truly honored to receive such acknowledgment from Datos Insights for our collaborative innovations."

The Fraud AML Impact Awards, now celebrating their fifth anniversary, highlight companies and solutions that are effectively countering the rising threats of financial crime. The award criteria focus on multiple factors such as innovation, competitive edge, market necessity, risk mitigation, customer experience, operational efficiency, and scalability.