Impersonation scams are becoming increasingly common. In fact, Scamwatch received 14,603 reports about bank impersonation scams in 2022, resulting in more than $20 million in losses.
So, if you receive a call (or text message) claiming to be from your telco, the ATO or your bank, how do you know if it’s legitimate? Well, here are five things that P&N Bank will never do. Remember them and hopefully you’ll feel more confident in your ability to spot a scam.
Ask you to transfer funds to another account
We will never contact you and request (or demand) that you move any money from your P&N Bank account to another account held with us. This is true even if your bank account has been compromised.
If you’re asked by someone who says they are from P&N Bank to transfer funds to a non-P&N bank account, then this should immediately ring alarm bells. You should refuse to proceed and immediately contact the bank being impersonated directly.
Ask you to confirm your account details in an unsolicited message
We will never contact you via text message or email out of the blue and ask for your account number or contact details. If you get a message asking you to confirm this information, please do not respond.
Every so often, we will contact our customers and ask them to check that the contact details we have on file are correct. When we do this, the message will ask you to visit Internet Banking or call us directly to update your address, telephone number or email address if the information is incorrect.
Ask you for your internet banking passwords
Never give anyone the password you use to access your internet banking or mobile app. We will never ask you for these.
When you are completing transactions online via Internet Banking, you will receive a Secure SMS Code in a text message - you should never tell anyone that code either. If you receive a text message containing a Secure SMS Code and you haven’t been transacting online, then do not give that code to anyone, and contact us immediately.
When you’re speaking to us in a branch or are on the phone to our Contact Centre, we may send a One-Time Passcode to your registered mobile device. This code allows us to verify your identity and confirm that we are speaking to the correct person. This is the only type of text message code we will ask for.
Ask for remote access
The P&N Bank team will never contact you and ask that you allow us access to your laptop, desktop computer or other devices. We don’t need to remotely access your personal devices at all. Ever.
This doesn’t just apply to your bank. If any other well-known business or organisation asks you to let them gain access to your devices, you should not proceed.
Ask you to take immediate action
Scammers manage to trick people into doing things they wouldn’t ordinarily do by creating a sense of urgency. We will never do this.
People impersonating a bank persuade you to act quickly by putting a time limit on whatever task it is they’re asking you to do. For example, they will often say that your account has been compromised, but if you can transfer money to another account within X number of minutes, your money will be safe. This is not true and you’re likely transferring money directly to the scammer’s account. Remember, if you make a payment willingly (an authorised payment), there is very little the bank can do to help you get your money back.
Unfortunately, impersonation scams can be very convincing. We have security measures in place to protect our customers and their money, but it’s incredibly important that you know the common warning signs and are always vigilant for potential scam activity. Always keep the above information in mind and share it with your family and friends to help them stay scam aware too.
If you think you’ve fallen victim to a scam or have found a transaction on your account that you believe is fraudulent, you should notify us immediately by calling 13 25 77. We will act quickly to secure your accounts and attempt recovery of the funds on your behalf, however there is no guarantee that this will be successful, and time is critical. To report a scam to the Australian Competition & Consumer Commission (ACCC), visit the Scamwatch website.