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

FraudSMART is advising consumers to be on alert for a new type of text message and phone scam currently in circulation claiming to be from your bank or credit union.

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

How does the scam happen? 

• You may receive a text message stating that you should expect a call from a staff member using a landline or private ID.
• Unfortunately, scammers have tools that can make it look like the message appears within an existing, genuine text thread that you may have from your bank or CU in the past.
• The text message and/or phone call may claim to be from the security or card services department. 
• If you accept the call, the fraudster will try to convince you to part with personal, financial and/or security information.
• In some cases you may receive an authorisation code and be asked to input it on screen to 'secure your account', 'cancel a fraudulent payment' or 'process a refund' - however this actually gives the fraudster access to your account.
• 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 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. While you are waiting to hear back from the caller, who you believe to be your bank or CU, the fraudsters may be moving money out of your account.

Warning signs: 

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

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

• Be very cautious of any unexpected texts or phone calls and if in any doubt, ignore the text message or hang up on the call, and phone your bank immediately.
• Do not use the phone numbers provided within the text of a text message. Contact your bank or CU 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 pressuring you on the phone to take urgent action, hang up and call the official office number
• Never give away personal information, card payment details,  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.