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As a customer you may be seen as a potential target for fraudulent activities. However by arming yourself with information and tools you can protect yourself from becoming a victim of fraud.
Do you know the four biggest fraud threats you face?
A number of customers from Australian financial institutions have been targeted with hoax emails. These emails appear to be genuine bank emails.
Some emails inform the customer that their security details and passwords need to be updated by logging into an authentic looking, but fake website. The purpose of these websites is to obtain your log on details to access your bank accounts.
Others communicate security messages and advise you to install software from the email that checks and removes viruses. By downloading the software you are in fact tricked into downloading a virus.
Always ensure that you only log onto ANZ Internet Banking by typing www.anz.com into the address bar.
If you have any concerns, call the Internet Banking Help Desk on .
This is an example only, the content and look of the emails change.
ANZ warns our customers and members of the public to be wary of various job scams advertised via the Internet.
Bogus overseas companies have been targeting Australian consumers to act as ‘money transfer agents’ in the sale of goods and services via methods such as fake job advertisements, unsolicited emails and online chat rooms.
‘Employees’ are asked to use their own bank accounts to transfer money overseas made from ‘sales’ in Australia. In fact, they will be transferring stolen money. In most cases, employees are instructed to send these funds to Eastern European countries. Employees are promised a percentage of the transfer as their commission.
The fake job advertisement websites look very professional and convincing. Please note some job advertisements contain Trojan Horses that allow the job advertiser to access the person’s computer and collect their personal details, including bank account details. Exercise extreme caution if you receive an email from any person or company asking for your personal and banking details.
Finally, if it sounds too good to be true it probably is.
This is an example only, fake job advertisements come in many different forms.
Identity theft is where a dishonest individual or syndicate will gather your personal details in order to gain some sort of financial or other benefit, leaving you the owner of that identity often in large debt with a negative credit history and in some cases with legal implications.
Your information can be obtained in many ways:
- Theft, including theft of mail from your mailbox at home.
- By going through your garbage bins.
- Telephone scams.
- Internet.
The following can be used to assume your identity:
- Date of Birth.
- Utilities bills (phone, gas, water and rates notices).
- Address.
How you can help protect your identity:
- Report any loss or theft of documents such as Driver Licence, credit card or Passport immediately.
- Obtain a copy of your personal Credit File (available from Baycorp Advantage) at least every six months to check on the status of your file.
- Keep tax records and other financial documents in a secure place.
- Cancel all unused or dormant accounts that you may have.
- Secure your mailbox with a padlock where possible.
Credit card and debit card fraud is a crime whereby your credit or debit card can be reproduced in order to use the credit balance to obtain a financial advantage. The creation and/or alteration of a credit/debit card occur when the information contained on the magnetic strip is reproduced. This type of crime is known as ‘skimming’.
Credit or debit card fraud can also occur when your card is lost or stolen and used by a third party to purchase goods with those cards or to remove cash from the cards.
Credit or debit cards can also be intercepted in transit while being sent to you. Your cards can also be compromised by a dishonest merchant who undertakes unauthorised duplicate transactions on your card.
- Memorise your personal identification number (PIN). Don't use the same PIN for all your cards, and don't choose your birth date or other easily identifiable number that might be on something else in your wallet.
- Check statements and call your credit card issuer immediately if you see anything suspicious on your bill. You could help the company uncover fraud—and save yourself from paying unauthorised charges.
- Do not let your credit card out of your sight at anytime – for example, at a restaurant – go with the card.
- Card fraud is not applicable in Australia only – be just as vigilant when travelling overseas, credit card skimming is an international crime.
- Always sign your card in ink as soon as you receive it.
- Keep track of when new and reissued cards should arrive, and call the credit card issuer if they don't come on time.
- Make sure your mailbox is secure, and that only you and the postal carrier have access to it.
- Tear up all credit card receipts and pre-approved credit card offers into small pieces before you throw them away. Keep your billing statements in a safe place.
- When you use your credit card online, make sure you are using a secure website. Look for a small key or lock symbol at the bottom right of your browser's window.
- Never give your card number to strangers or telemarketers who call you on the phone. Don't give your card number unless you initiated the call.
Cheque fraud is the use of a cheque to obtain financial advantage by:
- Altering the cheque (payee/amount) without appropriate authority.
- Theft of legitimate cheques and subsequent alteration or conversion.
- Duplication or counterfeiting of cheques.
- The use of false invoices to solicit legitimate cheques.
- Depositing a cheque into a third party account without authority.
- Depositing a cheque for payment knowing that insufficient funds are in the account to cover the deposited cheque.
Cheque fraud can be conducted by internal and external parties to your accounts.
- You are required to reconcile your accounts promptly and regularly. For business accounts, ensure independent overview by the appropriate level of management.
- If you hold business accounts, consider opening a separate account specifically for higher value cheques, so they can be easily monitored.
- Ensure that any spoiled cheques are destroyed.
- For business accounts, separate the cheque writing/electronic payments and account reconciliation functions.
- Never sign blank cheques, only sign cheques after all details have been completed.
- Limit the number of signatures to your account to ensure control.
- Regularly review the account authorities.
- Consider implementing a 'two to sign' policy.
- Ensure that your signature is not affixed to documents that can be accessed by the general public
- Keep all cheques securely when not in use to deter theft.
- Cheques must be completed in a way that deters fraudulent alteration.
- Ensure that a strong bold and consistent font is used.
- Leave no gaps in the completion of the payee name, amount in words and in figures.
- Avoid use of acronyms for payee names, eg. ATO.
- If completed in ink, use permanent ballpoint or ink (preferably black).
- If cheques are lost or stolen contact ANZ immediately and ask them to load a 'Stop Payment'.
- Notify ANZ if you have not received an ordered cheque book.
- Ensure that any invoices are valid before payment.
- Mark all invoices as paid once payment is made.
- Consider using electronic means of payment (if possible) for high value payments.
- Avoid sending high value cheques in the mail.
- Avoid sending cheques in window fronted envelopes.
- Ensure that your mailbox is secure to protect your inward cheques.
- Avoid providing your banking details to external parties.
If you suspect that you are a victim of cheque fraud or any other type of fraud, or if you detect an irregularity in your account reconciliation, .
For enquiries or further information please call:
,
24 hours a day, seven days a week.
(International )
It is important that you are aware of your rights and responsibilities with respect to your accounts. Further information can be found in the relevant Product Disclosure Statement.
You can access these by using the below link:
http://www.anz.com/australia/aboutanz/feesandrates
/TermandCond/
The Australian Payments Clearing Association Limited has prepared a brochure outlining how you can protect yourself from cheque fraud.
You can access this by using the below link:
http://www.apca.com.au/Public/apca01_live.nsf
/WebPageDisplay/CFPB_Online
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