Following the RBA’s June cash rate increase, we are reviewing what this means for our clients. Learn more

Protect yourself from financial fraud

More and more Australians are falling victim to financial fraud

In 2019, Australians lost over $634m to scams1. There are currently a number of scams circulating, attempting to take advantage of Australians during this vulnerable time. These include phishing, text messages, emails and phone calls that are all designed to look like they have come from a legitimate source.

While most people believe they would never fall victim to a scam, it is happening more frequently as scammers become increasingly sophisticated. It is critical that you protect your personal identity and your money.
 

Top tips to stay alert to scammers

  • Check your bank statements regularly to monitor your transactions.
  • Delete suspicious texts, emails, pop ups and don’t click on links or attachments from contacts you don’t know. We would never send you a text message or email saying you have been locked out of your account or your account has been revoked with a link to enter your details.
  • Be alert when dealing with uninvited contacts. For example, it’s unlikely you have won a competition you never entered and internet service and telecommunications providers generally do not require remote access to their customers’ electronic devices, nor do they require access to your internet banking.
  • Be aware of who you are dealing with and do your research. If you are concerned on a call, it’s better to find the details of the company yourself and offer to call back.
  • Be careful when shopping online and be wary of individuals selling goods online who may request payment up front without allowing you to view the goods in person.
  • Be alert regarding requests to change payment details on invoices. Call the company directly to ensure the change in banking details is correct. An invoice received from a regular supplier requesting payment be made to a new BSB and account number, with no verbal communication beforehand is a red flag.
  • Do not give anyone remote access to your computer.
  • Keep your personal details secure and use strong passwords to protect electronic devices.
  • Regularly download the software updates for your devices.
  • Don’t accept friend requests on social media from people you don’t know and ensure you review your privacy and security settings.


While it’s important to stay informed, your best source of information is always via the website of official organisations. Remember, BOQ Specialist will never send clients a link to a sign-in page, ask you to confirm your personal details or to request access to your Internet Banking profile directly.
 

What you need to do if you think you have fallen victim to card fraud

If you receive something that is suspicious, avoid clicking any links and report this directly to financialcrimes@boq.com.au

If you have any questions or concerns, feel free to contact our Client Service Centre on 1300 160 160.

  • Important Information

      Any information is of a general nature only. We have not taken into account your objectives, financial situation, or needs when preparing it. Before acting on this information you should consider if it is appropriate for your situation. BOQ Specialist is not offering financial, tax or legal advice. You should obtain independent financial, tax and legal advice as appropriate.