Illegitimate Fraud Scam - targeting elderly customers

What to look out for 

Recently, criminals have been targeting both Greater Bank and Newcastle Permanent customers as part of an elaborate scam to have elderly customers withdraw funds from ATMs and transfer into third party accounts under false pretenses.

Initially, victims are contacted via phone, and told that the scammer is from Greater Bank or Newcastle Permanent fraud and security, and that the victim's help is required in detecting scam activity.

The scammers will, in some cases, even send a taxi and chaperone to collect the victim, accompany them to an ATM or branch so funds can be withdrawn, and then deliver them to a third party financial institution to deposit the money in the scammer's account.

The scammers are aware of the victim's bank, their phone number and their address, no doubt having gained access to this information via illicit means.

How can I avoid this scam and protect those I care about?

In cases like this, where scammers are resorting to such elaborate tactics and targeting vulnerable customers, it's important for you to be aware of what to look out for and how to protect yourself.

Having the conversation with elderly relatives or loved ones may be the difference between being able to spot suspicious activity and losing thousands of dollars.

Importantly, we will never:

• Ask you to transfer money, withdraw, or deposit cash to a third party
• Send a courier or staff to pick up money, cards, or details from you
• Contact you unexpectedly and ask you to share your password, PIN, customer number, or your one-time password
• Ask you to click a link to grant access to your computer.

What should I do if I, or a loved one is taken in by this scam?

If you believe you have been scammed and you’ve transferred money, the first thing to do is to contact your bank to let them know.

You should also report the scam to Scamwatch at scamwatch.gov.au.

Security scams and advice