CBA understands the distress and concern scams cause and the impact they have on customers and their families.
We want to assure our customers — and the broader community — that we take these matters very seriously.
Scams can take many forms. An email intercept scam is where the details of a legitimate account are replaced with the details of a scam account and provided to the scam victim by email. This may include where an individual believed they are transferring money for a deposit or purchase of a property to their conveyancer or solicitor but account details have been changed by a third party.
We strongly urge all customers to stay vigilant when transferring funds - especially large sums or, payments to new recipients. Always verify payment instructions using a trusted and known contact method, rather than relying on the email or invoice requesting payment.
When we are notified of a scam by a customer, we request a recall of the funds from the receiving bank. Regrettably, in these types of scams, the money often leaves the receiving bank account very quickly and cannot be recovered.
If you believe you may have been scammed or notice an unusual transaction or one you didn’t make, contact your bank immediately. The best chance of recovering funds is when action is taken as soon as possible.
For more information on how customers can protect themselves from scams, visit CommBank Safe and CommBank Safe for Business.
