Warning issued to bushfire-affected banking customers

The Customer Owned Banking Association (COBA) is warning financial services customers in bushfire-impacted areas about phone scammers falsely claiming to represent a monitoring service.

COBA said that it has observed a recent spate of scam phone calls to cardholders in the areas of regional Victoria bordering NSW, including the regional town of Albury Wodonga. 

According to COBA, the scammers are claiming to be from the “Fraud Department” or “Monitoring Team”, targeting vulnerable bushfire victims, demanding they disclose card details, PINs and internet banking login details.

Leanne Vale, COBA’s director of financial crimes and services, condemned the behaviour.

“By pretending to represent a bank, these scammers use bullying and heavy-handed tactics to threaten account holders,” Ms Vale said.

“It’s despicable behaviour, and we call it out as the worst we have seen in a while, especially when people are working hard to get their lives back on track.

“We know that these scammers are targeting those who may be waiting for assistance.”

COBA urged customers who suspect a scam phone call to:

• immediately hang up and call their banking institution;
• ignore information provided by the scammer; and
• keep their banking details secure at all times.

[Related: Bushfire crisis drives down consumer sentiment]