With Christmas gifts already on the shelves, and Black Friday sales just around the corner, shopping season is well and truly upon us. At this time of year, scammers will be working overtime, using sophisticated methods to try and illegally access your funds. Always be aware of potential scammers who try to take advantage of you during this busy period.

Bank impersonation scams

There has been a recent rise in scammers calling, emailing or messaging people and pretending to be from their bank to gain access to the money in their personal accounts.

Scammers ask for personal and financial information or ask for a one-time security code over the phone. They often claim to be from a bank’s fraud department and tell you there has been a suspicious transaction on your account.

How to spot the scam

You may get a call, message or email from a scammer claiming to be from your bank and asking for personal or bank details.

The scammer may tell you there is a problem with your account and ask you to transfer money to ‘keep it safe’. They may say it’s an emergency, to encourage a sense of urgency and get you to panic and respond quickly.

What you can do

Ask for a reference number and contact your bank directly through a phone number that is on the website or on the back of your card.

Hang up if you receive a call from someone claiming to be from Australian Military Bank requesting you to transfer money or asks you to read back or share One-Time Passcodes (OTP).

Do not call or text phone numbers that are included in any suspicious messages.

Stay protected

Use these three steps to help protect yourself from scams:

STOP - Don’t give money or personal or financial information like passwords, security codes, OTPs, PINs or tokens. Don’t click on any links if you’re unsure.

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 remember, if you think you've been impacted by a scam, please contact Australian Military Bank on 1300 13 23 28 as soon as possible. 

If it is outside of office hours, please report the scam to 1300 705 750 or +61 2 8299 9534 if you are overseas.