It’s been reported by the Customer Owned Banking Association (COBA) that criminals are using new sophisticated techniques to imitate a customer’s financial institution during fake phone calls - to gain access to devices remotely.
It starts by criminals phoning customers to ask who they bank with and then simulating to connect them to the said financial institution. Fraudsters have even gone to the lengths of replicating on hold messages and music used by the customer’s financial institution, to deceive customers further and gain their trust.
The scammer, who is posing as a representative from the customer’s financial institution, according to COBA, then informs the customer that they have been unable to help them and transfers the call to a member of the ‘Fraud Team’, who is just another member of the scam group.
At this point, a member of the ‘Fraud Team’ attempts to gain access to the customer’s device or computer through a commercial screen sharing application. The scammer will then persuade the customer to open their internet banking – at which point funds and personal information can be taken.
COBA recommends that customers ask themselves the following questions, if they receive a call from their ‘financial institution’:
- “If someone is calling me about a fraud, why do they need to ask where I bank?”
- “Is it really my bank calling?”
The ways that fraudsters scam customers out of their money are always changing. Summerland recommends you sign up to Stay Smart Online’s free Alert Service, to keep up-to-date with online threats and how they can be managed.
As part of Summerland’s commitment to fraud prevention and detection, our team may call, email or SMS you to confirm a transaction. However, remember that Summerland will NEVER:
- Ask you to disclose your personal banking details, your PIN, your card number or any other information on your card in an unsolicited email, SMS or telephone call; or
- Ask you to click on a link in an email which then asks you to log in to your account and verify your details.
If you suspect you are a victim of a fraud, contact us immediately on 1300 802 222 so we can help to protect you.