Impersonation scams are on the rise, with criminals becoming increasingly sophisticated in their attempts to steal your money. They may contact you by phone, email, or text message, pretending to be from a trusted organisation like your bank. Their goal? To trick you into revealing personal or financial information or making a fraudulent transaction.

How these scams work
  • They create a sense of urgency: Scammers often claim there’s a problem with your account that requires immediate action. This could be anything from a suspected security breach to a suspicious transaction.
  • They use convincing tactics: They may use technology to make it look like the call is coming from your bank’s official phone number or send a message that appears in the same thread as genuine bank messages.
  • They prey on your trust: Scammers often impersonate bank employees, even claiming to be from the fraud department, to gain your confidence.
How to spot the scam
  • Requests for personal or financial information: Your bank will never ask for your PIN, passwords, or security codes over the phone or via email/text.
  • Urgent requests to transfer money: Be wary of any requests to transfer money to a “safe” account or to make an immediate payment.
  • Suspicious links or attachments: Never click on links or open attachments in emails or messages from unknown senders.
How to protect yourself
  • STOP: Don’t give money or personal or financial information like passwords, security codes, PINs or tokens. Don’t click on any links if you’re unsure. Say no, hang up, delete.
  • CHECK: Verify who you are talking to. Contact your bank using your banking app or a phone number you have sourced from your banking app, bank website, statement, or card.
  • PROTECT: Act quickly. If you have transferred funds, provided access to your account or information to a scammer, contact your bank immediately and report to Scamwatch. Tell your friends and family; it helps to share your experience so they can give you support and to help them stay safe from scams.
If you've been affected
  • If you have lost money, contact your bank or financial institution immediately. Contact Woolworths Team Bank.
  • If you’ve had personal information stolen or need support to recover from a scam, contact IDCARE on 1800 595 160.
  • Help others by reporting scams to Scamwatch.
  • Tell your friends and family: you can share your experience, get support and help to protect others from scams.

By being aware of these scams and taking the necessary precautions, you can protect yourself and your finances from falling victim to these criminals.

Information for this article has been extracted from the Australian Competition and Consumer Commission.