Bank scams: The Australian Banking Association (ABA) released an awareness report and campaign about the increasing threat of scams.

Last year in Australia $851 million was lost to scams. In the year to July, 84,000 scam calls were reported to Scam Watch, which is an increase of 145 per cent on the same period from the previous year (34,000).

The new ABA research shows 66 per cent of Australians fend off a scam attempt every week and 29 per cent of Australians report fending off a scam attempt every day.

New revealed that 37 per cent of Australians have lost money, or know a close friend or family member who has lost money to a scam.  Incredibly, 34 per cent of Australians know someone who have lost more than $150,000.

The ABA also aim to assist Australians to help make them aware of scammer tactics, focussing on three key messages:

If it’s from someone real, like your bank:

  • They’ll never ask for any account or personal details by text or email.
  • They’ll never threaten to cancel your account or arrest you if you don’t pay immediately.
  • If someone does, stop and think. Then just hang up or delete the message.

Banks have been working tirelessly with customers and law enforcement to prevent scams against their customers, including working with AuDA to prevent domain name-based scams. ABA CEO Ana Bligh said that “Banks are doing all they can to help protect Australians from scams that are coming from across the world. The industry is also working with all key stakeholders to ensure Australians are informed and protected in every way possible”.

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