AI-Driven Scam Prevention and Victim Support: Closing the Trust Gap for Australian SMEs

The Rising Threat: Why Scam Prevention and Support Matter for Australian SMEs

Small and medium-sized enterprises (SMEs) are the backbone of the Australian economy, representing nearly 98% of all businesses and contributing a third of the nation’s GDP. Yet, as digital transformation accelerates, these businesses face a growing threat: sophisticated scams and cyber-attacks that can disrupt operations, erode trust, and inflict significant financial and reputational damage. For Australian banks, the challenge is twofold: preventing fraud before it happens and providing rapid, empathetic support to SME victims when it does.

Recent research reveals a critical gap in the current approach. While most SMEs are generally satisfied with their banks, 60% of those who experienced a cyber-attack or scam found their bank to be less than completely helpful in the aftermath. This dissatisfaction is not just a service issue—it’s a trust issue. In a market where banking services are largely undifferentiated, the quality of post-incident support can be a decisive factor in customer retention and loyalty.

The Trust Imperative: What SMEs Expect from Their Banks

Trustworthiness, quality, and convenience are the top priorities for Australian SMEs when choosing a banking partner. While digital innovation is important, it is the human elements—authenticity, flexibility, and active listening—that drive positive perceptions. When a scam or cyber-attack occurs, SMEs expect their bank to act as a true partner: preventing fraud where possible, responding quickly when incidents occur, and providing both financial and emotional support throughout the recovery process.

However, the reality often falls short. Many SMEs report slow response times, lack of clear communication, and a sense that their unique business needs are not fully understood or addressed. This gap between expectation and experience is a significant risk for banks, especially as challenger and digital-first banks raise the bar for customer experience and operational agility.

The Role of AI and Data-Driven Tools in Scam Prevention

Artificial intelligence (AI) and advanced analytics are transforming the way banks detect, prevent, and respond to scams. By leveraging real-time data, machine learning, and behavioral analytics, banks can:

Detect suspicious activity early: AI models can analyze transaction patterns, flag anomalies, and identify potential fraud before it impacts the customer.
Automate and accelerate response: Intelligent systems can trigger immediate actions—such as freezing accounts, reversing transactions, or alerting customers—minimizing losses and disruption.
Personalize fraud prevention: By building rich customer profiles, banks can tailor security measures to the unique risk profile of each SME, reducing false positives and ensuring legitimate transactions are not unnecessarily blocked.
Educate and empower customers: AI-powered chatbots and digital assistants can provide SMEs with timely, relevant information on emerging threats, best practices, and steps to take if they suspect fraud.

The impact is clear: 68% of SME customers have used their bank’s chatbot service, with 91% finding it helpful. This demonstrates the potential for AI to deliver convenient, accessible support at scale—provided it is implemented with empathy and a focus on the customer experience.

Closing the Support Gap: Empathetic, Rapid Response for Scam Victims

Prevention is only half the battle. When a scam does occur, the quality of post-incident support is critical to rebuilding trust and helping SMEs recover. Research shows that only 23% of scam victims found their bank to be completely helpful, while 35% found support only somewhat helpful. Common pain points include slow resolution, lack of proactive communication, and insufficient emotional support.

Banks that excel in this area do so by:

Providing clear, multi-channel communication: Victims need to know what is happening, what steps are being taken, and what to expect next. Omnichannel support—combining digital, phone, and in-person options—ensures SMEs can access help in the way that suits them best.
Offering both financial and emotional support: Beyond reversing transactions or issuing refunds, banks should recognize the stress and uncertainty scams cause. Proactive outreach, reassurance, and guidance can make a significant difference in the customer’s experience.
Leveraging data to personalize recovery: By understanding the SME’s business context, banks can tailor their support—whether it’s fast-tracking access to working capital, waiving fees, or providing specialist advice on business continuity.
Continuous improvement through feedback: Collecting and acting on feedback from scam victims helps banks refine their processes, close service gaps, and demonstrate a commitment to learning and improvement.

Actionable Recommendations for Banks: Building Trust and Resilience

To close the trust gap and position themselves as true partners to Australian SMEs, banks should:

Invest in AI-powered fraud detection and prevention: Modernize core systems to enable real-time monitoring, anomaly detection, and automated response. Ensure these tools are continuously updated to address evolving threats.
Develop omnichannel, empathetic support models: Blend digital and human support to provide rapid, personalized assistance to scam victims. Train frontline staff to handle incidents with empathy and expertise.
Proactively educate SME customers: Use AI-driven insights to deliver targeted education on scam prevention, tailored to the specific risks and behaviors of each business segment.
Leverage data to personalize both prevention and recovery: Build rich customer profiles that inform both proactive fraud prevention and tailored post-incident support.
Foster a culture of continuous improvement: Regularly review incident data, customer feedback, and emerging threats to refine processes and close service gaps.
Collaborate across the ecosystem: Partner with fintechs, technology providers, and industry bodies to share intelligence, co-develop solutions, and raise the standard of protection for all SMEs.

The Publicis Sapient Perspective: Leading at the Intersection of AI, Security, and Customer Experience

Publicis Sapient’s experience in digital business transformation, AI, and customer experience positions us to help banks navigate this complex landscape. We support financial institutions in:

Designing and implementing AI-driven fraud prevention and detection systems
Building omnichannel support models that blend digital efficiency with human empathy
Developing data strategies that enable personalized, proactive customer engagement
Transforming organizational culture and processes to prioritize trust, security, and customer outcomes

The future of SME banking in Australia will be defined by those institutions that can deliver both robust security and genuine support—before, during, and after a scam event. By embracing AI and data-driven tools, and by putting the SME customer at the heart of every decision, banks can close the trust gap, build lasting loyalty, and drive sustainable growth in a rapidly evolving market.

Ready to reimagine your approach to scam prevention and victim support? Connect with Publicis Sapient to unlock actionable insights and accelerate your digital transformation journey.