Are you a customer of the Commonwealth Bank?  Even if you’re not, you’re being targeted anyway – scammers are sending texts to Australians pretending to be the major bank with the goal of stealing your details.  A number of texts, sent to an Australian that does not bank with CBA and obtained by Yahoo Finance, appear to be from the major bank alerting to “abnormal activity in your account” followed by a hyperlink.  But such texts are hoaxes and ought to be treated with suspicion, a CBA spokesperson told Yahoo Finance.

“We encourage customers to look out and remain vigilant as we will never contact them with links that ask for confidential banking details like their PIN, NetBank client number, password or a NetCode SMS,” the spokesperson said.

Scammers will target anyone and are becoming more sophisticated in their use of technology.

CBA has a dedicated team for monitoring and preventing unusual activity, and also works with government, law enforcement agencies and other banks to tackle potential threats, the spokesperson added.

“Unfortunately, scams and illegal activity may still occur from time to time.”

CBA customers who notice unusual activity should report it to CBA on 13 2221, and non-CBA customers who have been targeted by this SMS hoax should contact their bank immediately and update their security details, the spokesperson advised.

How to stay vigilant

  • Be suspicious of texts asking for personal information and report them to your bank
  • Don’t open any unfamiliar links or attachments
  • Not sure if an email is really from your bank? Visit their website and call them directly and don’t reply to the email
  • Not sure if the call is really from your bank? Hang up immediately and contact your bank
  • Check your transactions for unusual payments and turn on notifications for outgoing transactions
  • Use locks to keep control of how your card is used, e.g. blocking international, online or contactless payments, locking your card if it’s lost, and limiting the number of transactions
  • Destroy any expired cards

Australians lost nearly $500 million dollars to scammers last year, according to the competition watchdog ACCC.

Need Help?

If you require any further information please contact one of our tax accountants on 1300 QUINNS (1300 784 667) or on +61 2 9223 9166 to arrange an appointment. Alternatively, please click here to submit an online enquiry form or call us.