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Scams, security and fraud
29 October 2024 -Phone porting alert: We are receiving increased reports of phone porting fraudsters targeting Bank Australia customers. Read more on how to protect yourself.
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Keep yourself protected
As technology evolves and scam activity increases, we all need to be more careful than ever. See below for our latest security alerts, what we do to help keep your accounts secure, and find out what you can do to protect your money and personal details.
It can feel confusing to know what’s legitimate and what’s not when it comes to scams, but getting informed is the best way to protect yourself.
Recognise scam red flagsRemember
Money can't always be recovered if you authorise the transfer, especially if transferred overseas.
Never give login details, SMS security codes or personal information on an incoming call, or via text message or email, even if they claim to be from your bank.
If an investment seems foolproof or too good to be true, it's likely to be a scam.
Never give anyone access to your internet banking, computer or phone and always verify any request by calling a number you trust, even if the caller claims to be from your bank.
Meet the Bank Australia staffer who spotted an online scam
Meet our customers
"It's really important to me to know that my money is safe and secure, and beyond which being invested in organisations and initiatives that really align with my morals and my ethics."
Rachel | Bank Australia customer
Meet more
Scam red flags to look out for
UnexpectedPhone calls, text messages or emails that you weren’t expecting and that ask you to click a link or provide personal information
'Family and friends'An unknown number claiming to be a family member or friend in trouble
Urgency‘scary’ seeming messages about debts or the risk of being arrested
Anyone that asks you:- to download a program onto your computer or phone
- to give your bank details or coaches you on completing a bank transfer
Upfront feesProviding details for entry to a lottery or competition, or delivery of a prize
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Scammers often
- Try to make you feel worried or that you have to act urgently
- Move quickly so you feel that it’s not polite or usual to stop and question them, or so you won't notice what they are doing
- Offer ‘too good to be true’ investment opportunities, even with well-known brands on them
- Ask for payment details like credit cards for ‘free trials’
- Post job ads that offer you a commission for taking payments for sale of goods into your own personal account and then transferring the funds to another account
- Request a payment from you in return for ‘how to make money’ information, lottery payouts or horse betting predictions, or personalised horoscopes
Contacting you about fraud
As part of Bank Australia's commitment to fraud prevention and detection, our team may call, email you or SMS you to confirm a transaction.
From time to time we may send you an SMS from the Fraud Bureau Service, or send you an email to confirm card transactions, so make sure your contact details are up to date. In some cases where you don't have an email or phone number attached to your account, we might contact you via letter. When you receive an SMS from us, please call the number provided in the SMS (1300 705 750). All SMS messages relating to held payments will be sent from either +61 437 126 492 or +61 489 988 024. You won’t be able to reply to the SMS. If you are unsure about the validity of the SMS please call 132 888 to be transferred to the Fraud Bureau Service.
You may also receive a call from us or the Fraud Bureau Service, if you're contacted by the Fraud Bureau Service this will come from either (1300 705 750) or (+61 2 8299 9534) if you are overseas.
Remember that we never ask you to disclose your PIN, one time password or personal banking details, if you receive an unexpected call where someone requests this information it is possible that a scammer is impersonating a bank employee. If you ever receive a call like this don't provide any information, end the call and call us on 132 888.
Our commitment to your safety
We will
Actively monitor your accounts for unusual transactions.
Actively seek to confirm with you any transactions that appear to be unusual via email, SMS, phone call or letter requesting confirmation of a transaction.
Send you a copy of the Bank Australia Security Guidelines.
Take proactive measures to restrict access to the account if we detect unusual activity and we are unable to confirm the legitimacy of the transactions with you.
We will never
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Send you unsolicited emails asking for personal information.
Ask you to disclose your PIN or personal banking details in an unsolicited email, SMS or telephone call.
Ask you to disclose your card number or any other information on your card.
Ask you to click on a link in an email which then asks you to log in to your account and verify your details
Security support
From specific situations to guides on keeping your devices safe, take a look at Bank Australia security support.
Useful websites
The following websites have useful information about fraud protection and staying smart online.
- staysmartonline.gov.au
- scamwatch.gov.au
- protectfinancialid.org.au
- moneysmart.gov.au
- afp.gov.au
- acic.gov.au
- ato.gov.au
- equifax.com.au
- cyber.gov.au
There’s also the Australian Banking Association's Safe & Savvy guide to helping older people avoid abuse, scams and fraud. Read it to learn what to look out for.
Latest security and bank news
- Treasury bond and investment scams
Right now, we’re seeing an increase in Treasury Bond investment scams. Here’s what they are, what to look out for, and what to do if you think you’ve been targeted.
- Links, phishing and pop-ups
What to look out for in your emails and text messages to help you to keep your banking safe.
- COVID-19 scams
Learn about the scams by fraudsters posing as trusted and well-known organisations or government agencies.