The idea for the Australia Trust Network arose during the Cyberwars 2007 conference organized by Online Banking Review. The clear message the audience recieved on the day, was that there will be no collaboration between the banks to tackle identity fraud as they see it as a competitive advantage.

“I think at the moment it’s just too big a problem and it’s too difficult and therefore we’re all developing ‘point’ solutions.” Jim Karvounaris, global head of information security with ANZ, told the audience.

Likewise, Kaylene O’Neill, senior manager of security & financial crimes with NAB says: “At the moment the banks are going out with point solutions until such time as we come up with something that everyone’s happy with. What you will see is a tiered approach.”

Bryan Inch, head of financial services with RaboPlus Australia & New Zealand concludes that “We’re in a dangerous situation where, to a degree, the public are in the dark as to the sophistication of attacks that are out there. They have probably been given some false comfort with the measures that they’re currently operating under.”

Therefore the Australia Trust Network project was born to make sure that all Australian Online Banking Users get the same world class security solution to protect them from any forms of online fraud - regardless what bank or financial institution they use.