Commonwealth Bank builds new AI agent to combat fraud
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The news: The Commonwealth Bank has deployed an advanced agentic AI system to detect potential fraud and scam patterns in payments data and generate the code needed to intercept them, developed by the bank’s data science and engineering teams in just three months.
The context: The deployment is part of CommBank’s $1 billion annual commitment to safeguarding customers from frauds, scams and other financial crimes.
The bank said its fraud detection technology, which monitors more than 80 million signals daily, helped reduce scam losses by 20% in the first half of 2026, compared to the prior corresponding period.
The system is built on Snowflake’s data cloud and powered by CommBank’s cloud-based banking platform. AI models used across the bank are policed by CommBank’s risk management frameworks and policies, with clear human accountability.
What they said: "When suspicious patterns are identified, the system quickly assesses their severity, analyses context, and proposes new detection rules to help intercept them,” CommBank executive general manager of fraud and scams James Roberts said.
“The new agent goes beyond traditional AI by not only rapidly identifying new threats but also determining how it can seek to disrupt them,” he added.
The source: ASX
