Australian banks are teaming up with industry to win the "war" against scammers preying on customers.
Financial Services Minister Stephen Jones will lead a delegation to Singapore this week in a bid to strengthen collaboration against scammers in the region.
The group which includes the National Anti Scam Centre and the Australian Banking Association, will be joined by officials from New Zealand.
They will meet with their Singaporean counterparts and business executives to work on scam prevention through information sharing.
Australian Banking Association chief executive Anna Bligh said "winning the war against scammers" would require a global effort.
"Scammers are always innovating and finding new ways to steal money. It’s critical government and industry look at the different ways jurisdictions are tackling scams and what more can be done to protect customers," she said.
"We are making inroads here in Australia with financial losses from scams trending down and fighting scams across international borders is essential to keeping Australians safe."
The banking industry's scam-safe accord includes adoption of new technology to prevent identity fraud and payment delays to protect customers.
Mr Jones said the issue was a "transnational challenge" that required close work with partners including New Zealand and Singapore.
"We want Australians to keep their money safe, so we are going after these criminals and smashing their scam activity," he said.
"I look forward to sharing the strategies that are starting to work here in Australia and bring back new insights to continue our anti-scam plan and keep people’s money safe."
