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New text message and phone scams in circulation claiming to be from your bank

FraudSMART is advising consumers to be on alert for text message and phone scams currently in circulation claiming to be from your bank.

These are very convincing and sophisticated scams so please read the information below in order to protect your personal information and access to your bank account.

How does the scam happen?

  • You may receive a phone call and/or text message which creates a sense of urgency in relation to a ‘suspicious payment’ from your account or other security issue.
  • A text message may ask you to click on a link, call a number or even expect a call from their security team using a landline or private ID.
  • If you do click the link you may find yourself on a fraudulent online banking login page that mimics the real bank login page.
  • In some cases you may receive an authorisation code and be asked to input it on screen to ‘reactivate your account’ or ‘cancel a fraudulent payment’ – however this actually gives the fraudster access to your account.
  • If you receive a fraudulent call the number may mimic the genuine number of the bank. If you find yourself on a suspicious call, the fraudster will try to get personal, financial and security information.
  • The fraudster may imply that if you don’t act immediately, it will have negative consequences, for example, that money will be lost from your account.
  • The fraudster may even advise you to delete your mobile banking app or ask you not to log into your bank accounts for a period of time. In order to make you believe this instruction is genuine you may receive multiple calls advising there is a delay in receiving your ‘new’ online banking log in details to keep you away from your account.

Warning signs

  • A bank will never text/email/phone you asking for personal information.
  • A bank will never send you a link on a text message.
  • A bank will not ask you to delete your banking app or to avoid logging into banking online.

How do I recognise a genuine text message from my bank?

If you receive a genuine text message from your bank alerting you to fraudulent activity on your account you may be asked to reply with a basic response such as ‘Y’ or ‘N’ to confirm if a transaction is legitimate. A bank will never ask you to click on a link or for personal information.

What should you do if you receive a suspicious text message?

  • Do not use phone numbers provided within the text of a text message. Contact your bank using the number on the back of your debit / credit card.
  • Do not reply to unsolicited text messages or provide personal or financial information.
  • Do not click on a link or attachment from unsolicited emails or text messages.
  • If someone is pressurising you on the phone to take urgent action, hang up and call the number on the bank of your debit / credit card.
  • Never give away personal information, bank card payment details, bank account details or security details such as your PIN or online password to anyone.
  • Block the sender of a suspicious email or text message and delete the message.
  • Contact your bank immediately, if you think you have responded to a scam text message or phone call.

Help keep your family and friends safe

Anyone can be a target of this kind of scam and new types of scams and frauds are continually emerging that are increasingly more complex and convincing. Share this alert with your family and friends so that they too can stay safe and encourage them to sign up for the FraudSMART fraud alerts which we issue when a new scam is in circulation.

Be Informed, Be Alert, Be Secure – Be FraudSMART