Bendigo Bank Blocks High-Risk Crypto Payments!

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Bendigo Bank, one of Australia’s “Big Four” banks, has recently announced that it will be blocking “high-risk crypto payments” to protect its customers from investment scams. This follows similar moves from other big banks in Australia, including Commonwealth Bank, National Australia Bank, and Westpac. The new rules, which were implemented on 31 July, are aimed at combating fraudulent transactions. However, the bank has not disclosed any further details about which transactions will be affected or which exchanges will be impacted by the move. According to the head of fraud, Jason Gordon, the new measures may add some friction to certain genuine payments.