Case Study: Great Southern Bank boosts fraud detection and blocks nearly $500K in fraudulent credit applications with GBG Trust: Alert (GBG)

Great Southern Bank sought to safeguard against fraud, in particular money mules, posed by criminals who try to exploit the bank’s systems

Great Southern Bank, one of Australia’s largest customer-owned banks with more than 75 years of history, faced a rising threat from financial fraud—particularly money mules used to open accounts and apply for credit. To strengthen its fraud-prevention layers, Great Southern Bank partnered with GBG and deployed GBG Trust: Alert alongside its existing identity verification tools.

GBG piloted and integrated GBG Trust: Alert into the bank’s workflows, delivering measurable impact: in an initial three-month period the solution flagged just under $500,000 in fraudulent credit applications (with GBG Trust: Alert the only control to detect over 60% of that activity), generated 700+ deposit-account alerts of which just over half were likely money mules, and enabled the bank to block onboarding of about 12 high‑risk applicants per day.

Great Southern Bank