Australian Banking Association's new campaign helps customers avoid scammers

With the tag line ‘hear the alarm bells’, the campaign highlights the importance of customer vigilance against this criminal activity.

The ads feature important messages to help customers to spot a scam including:

• Bank impersonation: ‘Banks will never call you and ask you to transfer money to another account’;

• E-Toll scams: ‘Never click on suspicious texts, links or emails’;

• Investment scams: ‘Always check you’re dealing with a legitimate organisation’;

• Invoice scams: ‘Never transfer money unless you’re certain it’s to the right person’.

ABA’s executives said the new campaign highlights the need for Australians to pause and offers practical tips to help customers protect themselves from scammers. As scams grow ever more complex and sophisticated, vigilance is required from all of us at all times.

Data about scams that occurred in Australia

There were 256,842 scams worth USD 596 million reported to ACCC’s Scamwatch in the 12 months to February 2023 – an average of 21,404 scams a month, worth USD 49.6 million each month.The association’s officials added that this new national campaign has important messages to fight scams, reinforcing that people need to stop and listen for alarm bells – if it doesn’t feel quite right, it might be a scam. 

Australians can take effective, preventative steps to help protect themselves against fraud and scams. This new campaign is one of a range of important initiatives banks are undertaking with the community, government, and other industries all playing an important role to fight this crime.

The campaign also highlights PayID as an important tool in preventing scams. PayID helps customers to know who they are paying, before they pay. There are now 14.7 million Australians registered for PayID, as per the press release.