STOP. CHECK. PROTECT

As scam activity continues to rise, Australians are increasingly being targeted by criminals using sophisticated tactics, fear and urgency to exploit trust.

Local bank, Auswide Bank, is urging the community and its customers to be wary, particularly as impersonation scams become more prevalent and convincing.

An impersonation scam occurs when a criminal pretends to be from a trusted organisation to trick someone into handing over money or personal information. The scammer may claim to be from a telecommunications provider, a tech company, a government department or a bank.

In many cases, the scammer will claim there is a problem requiring urgent attention such as an unpaid bill, compromised account, suspicious transactions or a security issue that needs to be fixed immediately. Their goal is to create panic and pressure their victim into acting quickly, before they have time to stop and question the situation.

When it comes to banking, impersonation scams have become increasingly common, with fraudsters posing as members of a bank’s fraud or security team. Customers may receive a call warning of suspicious activity on their account and be instructed to transfer funds to a so-called “safe account”, share a one-time SMS security code, or download software to protect their device. In reality, these actions hand control directly to the scammer.

Damian Hearne, General Manager at Auswide Bank, said impersonation scams are one of the fastest-growing threats facing customers.

“Scammers are becoming increasingly sophisticated in the way they mimic legitimate organisations,” Mr Hearne said. “They often create a sense of urgency, telling customers their money is at immediate risk. It’s important to remember that a bank will never ask for passwords, PINs or one-time security codes. If something doesn’t feel right, hang up and call the official number listed on our website, or on the back of your bank card.”

Criminals often intensify the pressure by urging customers not to speak to anyone else or to act immediately. To counter this, Auswide Bank promotes a simple message: Stop, Check, Protect. Stop and take a breath before responding. Check that the caller is genuine by ending the call and contacting the organisation directly using its official number. Protect yourself by never sharing personal or sensitive information, and by contacting your bank straight away if something feels wrong.

Mr Hearne said customers should feel confident seeking support if they are ever unsure about a call, email or message they’ve received from someone claiming to be from Auswide Bank.

“Many scams rely on isolation,” Ms Hearne said. “If there is ever any doubt, we encourage customers to give us a call or visit their local branch. No question is too small, and having a simple conversation can, in some cases, prevent significant financial loss.”

If you ever suspect you might be the victim of a scam, contact your bank immediately and report the scam to Scamwatch via their website, www.scamwatch.gov.au/report-a-scam.  

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