Fraud and scams
Types of fraud
Fraudsters use a number of techniques to trick unsuspecting victims with the intention of stealing funds from their accounts.
Phishing
Phishing (pronounced fishing) is the fraudulent process of attempting to acquire sensitive information such as usernames, passwords and credit card details by masquerading as a trustworthy entity in an electronic communication.
Phishing by email
Always exercise caution when viewing emails claiming to be from Westpac.
We would never ask you to click a link in an email, nor would we ask you for your account information or login details by email. Find out more about the latest email scams.
Phishing over the phone
Fraudsters don't only strike online. There's been an increase in hoax phone calls with callers claiming to be bank employees asking questions about a customer's account or personal details.
Be particularly vigilant to these types of scams if you have lost your wallet or have been the victim of a break-in.
If you have reason to doubt the validity of a caller, ask their name and phone number to call them back and check the number against the Westpac telephone directory.
Also be on the lookout for voice recorded messages that can dial automatically and either ask you to call a number or provide account information.
Phishing by SMS
Your mobile can be a target for fraudsters too. If you receive any SMS message that you have not requested or are expecting and you are suspicious, please contact us on 132 032 to confirm the authenticity of the message.
Malicious software (Malware)
Malware is malicious software inserted into a computer system for the purpose of causing harm, such as stealing personal and financial information.
Spyware
Spyware gathers information about a user and relays it to another party over the Internet. It can be as simple as advertisers using it to track your web-surfing preferences. Or as bad as fraudsters using it to monitor keystrokes, scan files and emails and gather confidential data such as passwords.
In many cases, users unknowingly install spyware when they download freeware or shareware. In other instances, spyware programs are automatically installed when a user views emails or visits a certain web page.
Trojans
Some trojan viruses contain software that can capture a user's keystrokes. You can be affected by clicking on a link in an email or just by surfing the web. Help protect yourself from keystroke loggers by updating your software and operating system.
Fake job advertisements
Sometimes called ' mule recruiting', this is a rapidly growing scam. Fraudsters advertise on the Internet, in chat rooms or by email, enticing individuals to become money transfer agents. Individuals who participate in this type of activity are assisting the fraudsters by moving money (money laundering).
You should ask yourself the following questions about the so-called job offer:
- Why was no interview conducted for the job offer?
- Why weren't you asked for a resume and other documents normally required for a job interview?
- Why would someone who you have never met entrust you with money?
- Why the need to transfer money via Australia when the 'employer' (the fraudster) is sometimes located in another country, for example Russia?
These circumstances are highly unusual and should raise suspicion. So be wary of this type of scam - if the job advertisement looks too good to be true, then it usually is.
Scams
Scams come in many forms - mail, email, phone, online and door-to-door. They're designed to trick you into giving away your money, passwords and/or personal details.
To learn more about these other types of scams you can visit:
- SCAMwatch a government site to help you recognise report and protect yourself from scams
- Stay Smart Online provides all Australian online users with information on the simple steps they can take to secure themselves online
- Protect Your Financial Identity - this website provides information for the public about how you can protect your financial identity in everyday life and minimise the damage if a problem occurs.
