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Beware of Bank Scams: Criminals Targeting Your Money

How to Spot and Protect Yourself from Bank Scams

Criminals are increasingly posing as bank representatives through phone calls, emails, and messages to steal money. These scammers claim to be from the bank’s fraud department, stating that your account has been compromised or that there’s been suspicious activity. They may ask for personal details, financial information, or request you to transfer money to a “safe” account.

Scammers often use technology to make the call appear genuine, sometimes even matching legitimate bank phone numbers or message threads.

How to Spot a Scam:

  • Fraudsters may claim there’s an urgent issue with your account and pressure you to act quickly.
  • They often ask for passwords, one-time security codes, or other sensitive information over the phone.

How to Stay Safe:

  • Never trust unsolicited calls or messages asking for financial information.
  • Hang up and contact your bank directly using verified contact information.
  • Avoid clicking on any suspicious links, even if they appear legitimate.

Remember, your bank will never ask you to transfer funds to keep your money safe. Always verify who you’re talking to and act quickly if you’ve fallen victim to a scam.

Source scamwatch.gov.au

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