There have been increased reports of people being impacted by bank impersonation scams where phone numbers of financial institutions have been spoofed (mimicked) by scammers.

Scammers will impersonate bank employees, telling people that their banking details have been compromised, and instruct them to download remote access software for assistance.

Scammers will then encourage people to supply or change their internet banking password to one that has been supplied and share any one-time codes that are sent to their device.

By participating, this may lead to a scammer having full access to a person’s device, the ability to register an additional smartphone operated by the scammer on a person’s internet banking profile and unauthorised transactions leaving the account.

Below are some tips to help you protect yourself from this impersonation scam:

  • Thoroughly read your one-time password message to ensure you are aware of what is being authorised on your account. Never supply one-time codes to a third-party and report any codes that you receive but did not request to 1300 747 747 immediately.
  • Terminate suspicious calls. Assist us to catch a scammer, asking you to supply your internet banking password or reset your password to one that has been supplied are common requests made by scammers. Employees will never make these requests.
  • Dial the financial institution back on their advertised number to confirm the original call was a genuine enquiry, even if it is the same number that appeared to be originally calling. Scammers can manipulate phone numbers that display on your phone screen to create the illusion it’s from a legitimate organisation, such as a bank.

For more information on Bank Impersonation Scams, please visit our blog via our website.


Published Wednesday, 20 March 2024