Many of our Members are well known to our staff. We recognise their voices because we have served them for many years. Therefore, we also know when someone is trying to impersonate them.
Last week, we received a call from someone who was trying to impersonate a Member, whom we happen to know very well. Our staff picked up on it straight away and stopped the scam immediately. Shortly after, the Member contacted us to advise that she had provided her personal information to someone in a suspicious call. We advised the Member that we had stopped the scammer from accessing her bank account.
We ceased internet banking access and all banking activities before the scammer was able to access her account online. The following day, the Member visited our branch and updated all of her personal information. She was very grateful that our staff know her so well, and that we were able to pick up on something like this.
Every day, we work hard to educate our Members to be wary of suspicious calls from unknown sources. Please remember that we will never ask you for your bank account details over the phone or online.
If you believe you have been scammed, please call us on 1300 36 2000 immediately.
We are urging our members to be wary of tax themed scam texts, emails and calls requesting confidential tax information.
These scammers often disguise themselves as individuals working for the ATO or other government agencies such as MyGov and urge the recipient of the call, text, or email to make a payment by clicking a link.
Common types of Financial Tax Scams include phishing scams, phone scams, identity theft and fake charities.
To protect yourself from these scams, please follow the advice from ACMA:
Do not click on any links in unexpected texts or emails.
Do not provide personal information over the phone.
Do not rely on the contact information given by the caller, or within the text or email.
Please note: the ATO will never threaten arrest, urge immediate payment of a fine or tax debt, nor will they cancel or suspend your Tax File Number. If you are unsure if a call, text or email is legitimate, please contact the ATO on 1800 008 540.
If you are unsure about the security of your account or believe you have been scammed, contact us immediately on 1300 36 2000.
For more information, please visit https://www.acma.gov.au/articles/2023-07/scam-alert-end-financial-year-tax-scams
The Australian Taxation Office (ATO) is warning fellow Australians about a high volume of SMS and email scams pretending to be from the ATO.
These scams encourage people to click on a link that directs them to fake myGov sign-in pages designed to steal their username and password.
Scammers use many different phrases to trick recipients into opening these links. These include (but are not limited to):
'You are due to receive an ATO Direct refund.'
'You have an ATO notification.'
'You need to update your details to allow your Tax return to be processed.'
'We need to verify your incoming tax deposit.'
'ATO Refund failed due to incorrect BSB/Account number.'
'Due to receive a refund, click here to receive a rebate.'
The images below are examples of the format this scam can take:
Do not open any links or provide the information requested.
The ATO won't send you an SMS or email with a link to log on to online services. They should be accessed directly by typing ato.gov.au or my.gov.au into your browser.
While the ATO may use SMS or email to contact them, they will never ask you to return personal information through these channels.
Report any suspicious contact claiming to be from the ATO to ReportScams@ato.gov.au.
Source: "Scam Alerts" https://www.ato.gov.au/general/online-services/identity-security-and-scams/scam-alerts, July 2023.
Identifying a scam is not always easy. When you are surfing the internet or scrolling through your social media page, you can potentially be exposed to online scams. Scams come in a variety of guises, including those that specifically target the elderly and children. Therefore, you need to be able to learn the signs. Here are some tips on how you can identify online scams.
Emails, SMS, Phone Call and Social Media
These are the most common ways scammers like to reach their targets. Scammers will attempt to contact you and pretend to be from a legitimate business such a bank, telephone or internet service provider. The scammer asks you to provide or confirm your personal information. NEVER EVER give anyone your personal information through emails, SMS, phone calls or social media. Also don't click on any links you have been given as the link may contain a virus or malware.
The "Free Trial Offer"
Watch out for "free trial" offers. Some of the "free trial" tricks are legal because the conditions under which victims end up paying are often hidden in small print.
Errors
Many scams are rife with grammatical and spelling errors. If you receive messages laden with such errors about a "great deal" or contest, it's probably a scam, even if it comes from a "friend". However, there are plenty of scams that contain flawless wording, as it's one of the ways scammers make their messages look legitimate.
Foreign Offers
Look out for foreigners claiming they need a few hundred dollars to access thousands of dollars and tell you that they will provide you with a cut of the money. This type of scam has become common.
Talent Search
"Kids talent searches" are types of scams that target children specifically. These scams might suggest that a child joins a particular modelling agency or accepts an invitation for a screen test. They may seem real at first, but they always ask for money to continue "working" with the agency.
Scholarship Scam
Another scam that targets children is scholarship scams. They claim to be recognising children for academic achievement, but they will ask for significant upfront fees just like talent search.
We'd like to draw your attention to the increasing number of bank impersonation scams in Australia, which have been growing in sophistication and complexity.
According to ACCC’s Scamwatch, there were over 14,600 bank impersonation scams reported in 2022, causing losses over $20 million. Total losses to phone and text scams increased considerably in the past year, with losses exceeding $169 million.1
What is a bank impersonation scam?
Bank impersonation scams occur when a scammer impersonates a bank or financial institution to trick their victims into making payments to a fraudulent account. The scammer may make the phone call seem like it is coming from the bank's legitimate phone number or send a SMS that appears in the same thread as genuine bank messages.
How to identify a bank impersonation scam1
It’s important to stay vigilant and informed about the different scams to spot warning signs and avoid becoming a victim. Be on the lookout if:
There is a sense of urgency or threat to the message – “your bank account has been accessed”, “your bank account has been locked” “a payment has been made from your account. If this was not you, please call (phone number)”.
The message looks different to other messages in the SMS thread, such as different wording or phrases used.
The message contains a suspicious looking link. Never click on suspicious links.
The SMS has a telephone number to call – always find your bank’s phone number independently.
The caller tells you to transfer money to a different account to ‘keep it safe’ or for ‘further investigation’. This is not standard procedures for a bank. It is a SCAM.
How to protect yourself from this type of scam:
Follow our top tips below to avoid falling a victim and to ensure that your personal information and finances remain secure.
A genuine call from your Bank or our fraud department will only ever ask you to confirm the last four digits of the Visa Card affected.
Do not trust the information provided by the scammer. Any information provided is likely to be false like their contact number and designed to create an impression of believability.
Always know who you are dealing with. Avoid responding to unsolicited and unexpected contact. You have the right to ask the caller questions to assess the legitimacy of the call. Hang up if you are uncomfortable with the caller.
Do not provide your banking details to anyone over the phone. We will NEVER ask for your contact details over SMS or email. If possible, collect the caller’s name, phone number and their position and then call us on 1300 36 2000 immediately.
Again, never click on URL links or open attachments in suspicious emails or SMS.
Just because your name is in the SMS or email, it does not mean it is contact from the Bank. Always double-check directly with us, your Bank.
Always go to our Internet Banking directly, do not use the links provided on the messages.
Here are some additional tips from Scamwatch to help protect yourself from the scams1:
Stop – take your time before giving money or personal information.
Think – ask yourself if the message or call could be fake?
Protect – act quickly if something feels wrong. Contact us on 1300 36 2000 and report scams to Scamwatch.
We take the security of our Members very seriously. If you're worried or you’ve noticed a suspicious transaction, call us immediately on 1300 36 2000.
To know more about types of scams, click here.
There are several reasons why using strong passwords to protect your money is crucial. With the rise of cybercriminals over the last few years, providing an extra layer of security is essential to prevent unauthorized access to sensitive financial information. Strong passwords are more difficult for hackers to guess or crack, making it more difficult for them to access your account.
A strong password should contain a combination of uppercase and lowercase letters, numbers, and special characters and be at least 8-12 characters long. It should also be unique and not easily guessable by others.
If a weak password is used, it can be easily cracked by automated password guessing tools or by hackers who use social engineering tactics to guess or obtain passwords. This can lead to unauthorized access to your bank account, allowing hackers to steal your money or personal information.
Therefore, using strong passwords is an essential step in protecting your financial security and keeping your sensitive information safe.
