Top Tips: How to avoid scammers

The simple steps consumers can take to avoid being scammed by fraudsters

Australia’s customer owned banking institutions are warning consumers to be on the lookout for suspicious text messages, emails and requests for payments in the wake of a PayID breach.

More than 100,000 customer PayIDs were compromised in the breach after scammers managed to breach one of the ‘Big Four’s’ PayID security structures. By using compromised accounts, the scammers were able to randomly test mobile numbers to find genuine PayID accounts and the names of the account owners. The process resulted in approximately 100,000 PayID credentials being revealed to criminal syndicates.

Top Tips to Avoid Phishing

1. Always know who you are dealing with. Avoid responding to unsolicited and unexpected contact.
2. Don’t provide your banking details to anyone. Your banking institution will never ask for your contact details over SMS or email.
3. Never click on URLs or open attachments in suspicious emails.
4. Just because your name is in the SMS or email, doesn’t mean it is contact from your bank. Always double check directly with your banking institution.
5. Always go to online banking platforms directly, don’t use links sent in messages.

Customer Owned Banking Senior Advisor Financial Crimes Brett Peacock has recommended customers be on the lookout for unexpected contact and to always check with their bank directly. “With account owner’s name and mobile phone number at their disposal, scammers will start to target those individuals with phishing messages, emails and requests for payment. “Phishing messages will seek your personal ID information, banking logons or it may contain malware that infects your device,” explained Mr Peacock.

Mr Peacock advised customers to be on the lookout for unexpected or unusual contact. “If you receive an unsolicited and unexpected request for information, you should contact your financial institution directly to clarify whether it is real or not. “Don’t click on the links or attachments scammers might send you. These links often contain malware that allows scammers to access app passwords, internet banking logins and other personal information.” Mr Peacock said scammers had a few tricks up their sleeves to get people to provide their data.

“Scammers will try and make a message or email look like it came from your financial institution, so you should always second guess whether an email is real or not. “Be particularly aware of messages or emails that say you have won a prize and ask you to click a link to collect your prize. It’s also important to be on the lookout for scams threatening you if you don’t do something,” warned Mr Peacock.

COBA is urging customers who think they may have received a fraudulent message to get in contact with their banking institution before clicking on links or opening attachments.

Changes to our Fees & Charges and Transaction Limits document

As of 1 September 2019, we will begin the process of limiting Internet Banking transactions to $1,000 per account per day for members not registered for SMS Verification Codes. You can access the updated Fees & Charges and Transaction Limits document here. 

Vulnerable consumers lose record amounts to scammers.

Australians love technology. We are spending more time online shopping, entering our personal details and accessing the internet on our devices. Some of us even have an auto-memory software in place in case we forget our passwords.

Anybody using the internet and electronic devices needs to be aware of the increasing threat of scammers. Recently, scammers have been impersonating your favourite businesses or even the police and the Australian Taxation Office. They want to gain access to your computer and steal money or banking information.

Australians who are older, Indigenous or have disability reported record losses in 2018 according to the ACCC's annual Targeting Scams report released last week. Older Australians looking to grow their nest eggs but who instead get caught up in investment scams reported losses of $7.6 million, and those misled through fake relationships reported losses of $5.8 million to dating and romance scams.

“Scammers will start with a cold call to their victim promising low-risk investments for high returns. They may spend months grooming their victims and once a victim invests, they’re quickly convinced to put more and more money in. As soon as the victim tries to cash in on their investment, the scammer quickly disappears,” ACCC Deputy Chair Delia Rickard said.

You can avoid becoming a victim of scammers by knowing how to protect your information and your devices. Learning more on the scams that are being used can empower you to avoid being caught. Some of the scams are as follows:

• Hoax messages: emails, text messages or internet pop ups that direct you to fake websites which prompt you to reveal personal information.
• Malware: software that can monitor where you go online and record your keystrokes which means it can record your confidential passwords, logins and other personal information.
• Fake phone surveys:  contact you and ask questions to try and trick you into revealing personal information.
• Website scams: targeting many people by running a scam that sounds “too good to be true”.
• Phone porting: switching your phone to another provider without permission to gain access to your calls and text messages.

Please note:  The Bank will:

• Never ask for your Internet Banking login details or credit card details via phone or email
• Never use email to send you a link to an Internet Banking login page
• Never ask you to communicate your passwords to us in any form

Security tips

There are some good practices and simple actions that may reduce personal information being compromised.

• Lock it – set a password on your device so that no one else can use or view the information. Also store your device in a secure location.
• Contact your bank if you lose your phone or tablet – call your bank immediately to tell staff about the loss and provide your new number.
• Be careful what you send via text message – never send personal information via message.
• Only use official internet banking apps – those from your bank.
• Install and keep up to date anti-virus and firewall software purchased from trusted suppliers.
• Protect your passwords – keep your PIN and passwords confidential. Avoid using the same password for multiple websites. If your banking app allows a PIN, make sure it’s different than the one you use to unlock your mobile device. Make sure your password or code is hard for others to guess but easy for you to remember.
• Read privacy policies – before you provide personal information to any website, understand how your information will be used and how long it will be retained. To view Unity Bank’s privacy policy click here. 
• Be wary of free downloads, programs, software or screensavers – sometimes malware and spyware can be hidden in free offers.
• Check your bank statements – contact your bank if you find any unusual or suspicious transactions.
• Always log out of internet banking.

Unfortunately, scammers are becoming more sophisticated and see opportunities whenever money is involved, and they will always seek new ways to steal and commit fraud. At Unity Bank, rest assured that your financial wellbeing is always our top priority along with the security and safety of your banking. These tips are here to help you build a better defence against scammers.

Don’t forget to check out www.scamwatch.gov.au for more tips as they become available.

Moving House Guide

Some people would consider moving house a nightmare and a half. From booking removalists to decluttering, we know these tasks can cause unnecessary stress to any new home owner. That’s why we have come up with some easy ways to keep your stress levels down and move in no time.

Preparation is key!

To prepare for M day (moving day), a lot of time is needed. If unprepared and unorganised, M day can easily turn into D day (Dooms day). So preparation is key when moving homes, you can start of by assessing what will be moving with you to your new home and what will be thrown in the skip or sold. This is an important step before considering a removal company because it will help you understand how much furniture you will be moving. Do you really want the old lounge chair that the cat destroyed? No, throw it in the skip. By categorising items into ‘Keep’, ‘Sell’, ‘Donate’ and ‘Skip’, you could potentially save yourself some money in moving costs.           

Update everything

Updating your contact details is a crucial part of moving. Most organisations allow you to update your mailing address online or over the phone. Don’t forget to have your address changed on your driver’s licence as well as on the electoral roll. You can also organise mail redirection to your new address, so you don’t miss out on any important letters.

Electricity and gas

Organising your electricity and gas before you move in will prevent cold showers and no power. This task should normally be organised one week before M day. During this time arrangements should also be made for connecting and disconnecting of all other services with your utility providers such as phone, internet, water and pay TV.    

Mr fluffy is a priority!

If you think moving houses is a nightmare and a half, your pets are probably stressed out too. Plan ahead and organise for a family member or friend to look after them while you make the move. Once settled you can introduce them into their new home with no stress or injuries to your pets. 

M Day

Ok so you have followed all our preparation steps, now it’s moving day. Be prepared for a long day ahead, so snacks are always good to have. To keep your family volunteers and moving team happy, snacks such as fruit, muesli bars, small packet chips, crackers and chocolates will keep hungry bellies at bay. Also staying hydrated by having water bottles on hand will help the day run smoothly.

We hope these moving preparation tips make your M day as stress free as possible.  

Osko by BPAY™

Pay and get paid faster

Osko® is a new way to pay with Internet and Mobile Banking that’s as fast as cash – without the hassle of cash. Whether you’re paying a tradie, splitting a bill or giving money to family for something urgent – the money will be there in minutes.  

Whats not to love about Osko®?

• Faster payments across over 50 institutions - and more to come
• Available all day, every day - even weekends
• You can use a PayID to pay and get paid with something simple like a registered mobile, email or ABN. Or you can still use a BSB & account number.
• It's backed by BPAY and us, so it's very secure
• You can use 280 characters of text to describe who's getting paid and why

How to use Osko®

You will be able to use Osko via Internet and Mobile Banking. We will let you know closer to the launch date, in early 2018. 

Find out more about PayID

It’s a smart address for payments, created by linking a bank account to a recognisable and memorable piece of information used in everyday life, such as an email address or mobile number. While the PayID can only link to one bank account at a time, accounts can have more than one PayID. A PayID can be a mobile number, email address, or ABN. A PayID provides greater convenience and peace of mind, as a customer no longer has to disclose their BSB and account number to receive payments.

Want to know more about Osko®? visit osko.com.au