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Social Media Scam Alert

Reports have been received by FraudSMART of a recent scam targeting businesses where fraudsters are scanning social media and using messages posted by businesses to banks’ social media channels to identify potential victims of fraud. The fraudster calls the business after the posting claiming to be from the bank and offering to assist them with their query. In the process they manage to extract financial and personal information enabling them to scam the business out of money. Follow FraudSMART’s top tips:


  1. Social media is an effective and efficient way to communicate with your bank once you take the right precautions. However, remember what you post across all social media channels and the internet can be used to build a profile and give contact information.
  2. Be wary of unsolicited calls purporting to be from you bank.
  3. Your bank will never ask for passwords, account information or confidential information.
  4. Hang up and call your bank yourself, make sure you hear a dial tone first.
  5. Never send money or give you bank details over the phone, no matter how much you believe and trust them.