With the upcoming federal election, the Customer Owned Banking Association (COBA) is urging Australians to be alert against scammers.
“Election periods are an opportunistic time for scammers due to heightened public interest and sense of urgency, and the only way to truly protect yourself is to be vigilant with any type of unsolicited contact – even if it looks legitimate,” COBA Head of Financial Crimes and Cyber Resilience Martin Latimer said.
“We anticipate a rise in scammers targeting voters, falsely requesting personal information for purported electoral roll updates. We also often see a rise in text messages or emails claiming to be from candidates, encouraging you to click on a link to learn more, which can download malicious software onto your device,” he added.
Phishing scams are designed to obtain your personal information or get you to click on malicious links. The scammer’s goal is to obtain personal information, such as usernames, passwords, and credit card details.
Scammers often impersonate trusted entities including official government agencies, targeting individuals through emails, phone calls, or text messages. The emails and websites they use are designed to look legitimate, often mirroring the branding and logos of the companies or institutions they're imitating.
They also often use urgent language including ‘Immediate action required’ or ‘Failure to Vote penalty warning’ to pressure targets into acting quickly without thinking.
“Never click on links in unsolicited text messages or emails, and don’t open attachments from unknown senders – they may contain malware,” Martin advised.
“Even when a message seems to originate from a reliable source, do not rely on the provided contact details. Instead, separately access the organisation’s official website and confirm the sender's information there,” he added.
What to do if you suspect a scam
If you believe you may have been a victim or lost money to a scam, it’s important to notify your financial institution as soon as possible.
Australian Mutual Bank members can speak to our Fraud Team by calling 13 61 91 (Monday to Friday 8:00am - 7:00pm, Saturday 8:30am - 11:30am, Sydney time) or by emailing info@australianmutual.bank.
Seek support from IDCARE (a free government-funded service) who can help you develop a response plan to limit the damage. IDCARE will never contact you out of the blue.
Help others and keep authorities in the know by reporting the scam to Scamwatch.
Beware of follow up scams, particularly ones promising to help you get your money back. One in three victims of a scam have been scammed more than once according to Scamwatch.
If you or someone you know has been impacted and may need ongoing help, there are support services available. These avenues of support are available to help, listen and believe.
For more advice on how to avoid scams, see our Security Advice section or visit the Scamwatch website at www.scamwatch.gov.au.
Customer-owned banks are dedicated to safeguarding their customers from scams and fraud. Find out more about the banking industry’s Scam-Safe Accord here, an initiative that represents a united front against scammers and reinforces the banking sector's determination to strengthen consumer protection.
Source: Customer Owned Banking Association (COBA)
Any advice or information on this article does not take into account your personal objectives, financial situation or needs and you should consider whether it is appropriate for you.
