Suncorp Bank urges customers to hear the alarm bells of scams
Suncorp Bank has backed a new scams-focused campaign released by the Australian Banking Association (ABA), which follows the ACCC's Targeting Scams report revealing a whopping $3.1 billion was lost to scammers in 2022. The Bank is urging customers to stay ahead of scammers by reading up on the warning signs, to prevent more people falling victim to the growing number of fraudulent claims circulating Australia.
Suncorp Bank is reminding customers to listen out for the alarm bells, supporting a new campaign to help customers stay ahead of scammers, as scam reports across Australia reach an average of 21,404 per month worth $49.6 million.
The campaign, led by the Australian Banking Association (ABA), comes as the ACCC’s Targeting Scams report revealed that Australians lost a record $3.1 billion to scams in 2022.
Suncorp Bank Executive General Manager, Everyday Banking, Nick Fernando said the impacts of scams were devastating and took a significant financial and emotional toll on victims.
“We are seeing scammers’ tactics become increasingly sophisticated. They don’t discriminate – their activity is deliberately designed to mislead, cause panic and confusion with the result that they get access to your personal details or your money,” Mr Fernando said.
“We know that our best defence is ongoing education and awareness – it is so important that we are all vigilant against this issue in our community and listening out for the alarm bells.
Nick Fernando, Suncorp Bank Executive General Manager, Everyday Banking
We take many steps to prevent scams, including monitoring accounts for suspicious activity, working with government, law enforcement agencies, telcos and industry bodies, but one of our best defences is ensuring our customers know what to look out for.
Mr Fernando said customers should listen out for alarm bells if they receive communications about their accounts, an investment opportunity that sounds too good to be true or anything that asks them to share their personal details.
“It is absolutely essential for our customers to know that if they receive a call, message or email that doesn’t feel right, it’s OK to stop and think and check with your bank,” he said.
“Your bank will never ask for your personal details or to transfer money and you should never feel pressured to take action.”
Mr Fernando said customers who thought they may have been impacted by a scam should contact their bank immediately.
“As soon as we become aware a customer may have fallen victim to a scam, our fraud and investigation team will attempt to retrieve the funds,” he said.
“Our process is recovery focused and we prioritise contacting the bank to which the payments were sent. Scammers shift funds quickly and we work quickly to ensure any funds that can be recovered, are secured at the other bank.
“Whilst we do take steps to recover funds that have been moved to other banks, due to the nature, speed, and sophistication of scams, this is not always possible.
“In the event that a customer has been impacted by a scam, we offer a range of support services, including access to our Customer Advocate and our Customer Vulnerability Hub and we partner with IDCARE to connect impacted customers with support.”
#Suncorp Bank has the following tips for customers:
Hear the alarm bells – if you receive an email, call or text message that doesn’t feel right, stop, think and check with your bank immediately by calling the number on your statement, online banking platform or app.
Don’t feel pressured – your bank will never ask you to transfer money or provide your personal details and they won’t pressure you to take immediate action.
Check the details – never transfer funds unless you’re certain it’s going to the right person and always check the legitimacy of any bills, invoices or requests for payment.
Secure your account – set up a PIN, fingerprint, face ID or passcode on your compatible device and set a lower transfer limit to protect your accounts and online banking
For more information on security at Suncorp Bank visit: https://www.suncorp.com.au/banking/security.html
For more information on the Australian Banking Association campaign visit: https://www.ausbanking.org.au/scams-hear-the-alarm-bells/