Top Tips: How to avoid scammers
The simple steps consumers can take to avoid being scammed by fraudsters
Australia’s customer owned banking institutions are warning consumers to be on the lookout for suspicious text messages, emails and requests for payments in the wake of a PayID breach.
More than 100,000 customer PayIDs were compromised in the breach after scammers managed to breach one of the ‘Big Four’s’ PayID security structures. By using compromised accounts, the scammers were able to randomly test mobile numbers to find genuine PayID accounts and the names of the account owners. The process resulted in approximately 100,000 PayID credentials being revealed to criminal syndicates.
Top Tips to Avoid Phishing
Always know who you are dealing with. Avoid responding to unsolicited and unexpected contact.
Don’t provide your banking details to anyone. Your banking institution will never ask for your contact details over SMS or email.
Never click on URLs or open attachments in suspicious emails.
Just because your name is in the SMS or email, doesn’t mean it is contact from your bank. Always double check directly with your banking institution.
Always go to online banking platforms directly, don’t use links sent in messages.
Customer Owned Banking Senior Advisor Financial Crimes Brett Peacock has recommended customers be on the lookout for unexpected contact and to always check with their bank directly.
“With account owner’s name and mobile phone number at their disposal, scammers will start to target those individuals with phishing messages, emails and requests for payment.
“Phishing messages will seek your personal ID information, banking logons or it may contain malware that infects your device,” explained Mr Peacock.
Mr Peacock advised customers to be on the lookout for unexpected or unusual contact.
“If you receive an unsolicited and unexpected request for information, you should contact your financial institution directly to clarify whether it is real or not.
“Don’t click on the links or attachments scammers might send you. These links often contain malware that allows scammers to access app passwords, internet banking logins and other personal information.”
Mr Peacock said scammers had a few tricks up their sleeves to get people to provide their data.
“Scammers will try and make a message or email look like it came from your financial institution, so you should always second guess whether an email is real or not.
“Be particularly aware of messages or emails that say you have won a prize and ask you to click a link to collect your prize. It’s also important to be on the lookout for scams threatening you if you don’t do something,” warned Mr Peacock.
COBA is urging customers who think they may have received a fraudulent message to get in contact with their banking institution before clicking on links or opening attachments.