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The ins and outs of identity scams

Identity scams can be more devious than a simple email notifying you of a “lottery win”. Read our information below on how to stay aware and protected.

Identity theft is the fastest growing crime in the world. An Australian Bureau of Statistics Personal Fraud survey found Australians lost $1.4 billion to personal fraud in 2010-2011. The survey also estimated 1.2 million Australians aged 15 and over were victims of at least one incident of personal fraud 1.

With an increasing number of transactions taking place online, more scams are happening here too.

National Consumer Fraud Week, from June 17 to 23, aims to educate people in an effort to fight fraud, and teach consumers how to buy and sell safely online.

We spoke to CommBank’s Raj Sandhu, Executive Manager, Card Fraud, about ways that CommBank is addressing the issue.

Card fraud costs Australians $45 million to $60 million per year.

  • Taxi skimming – Card ‘skimming’ is the illegal copying of information from the magnetic strip of a credit card. Once a card is skimmed, the scammer is able to withdraw funds from your account. If you notice anything suspicious like the taxi driver swiping your card in any other device or taking your card out of your sight; or if the transaction does not appear on your statement, contact CommBank immediately on 13 2221.
  • Computer virus notification – Customers have been called on their mobile phones and told they have a virus on their computer. They are then advised to go to a link online, purchase security software with their credit card, and told they will receive a NetCode SMS they need to pass onto a telephone operator. Never give out your NetCode to anyone. There is no need to do this, and CommBank would never ask for this information.

We work closely with law enforcement agencies to arrest criminals. We also communicate scams to customers via our website and through the NetBank inbox, and educate about known and current scams.

CommBank is equipped with the latest in fraud detection systems, offering 24/7 surveillance. We can decline transactions in real time where transactions are suspicious, and we work with MasterCard, Visa and American Express on global strategies to improve the security around transacting on a CommBank credit card.

We will get in touch if there has been suspicious activity on your card. For this reason it is vital you let CommBank know your travel dates and itinerary, and keep your contact details up to date either on NetBank, at any branch, or by calling 13 2221.

CommBank offers a 100 per cent money back guarantee on all fraudulent transactions provided you didn’t contribute to the loss and notified the Bank straight away. Further information can be found in your credit card conditions of use.

If you think you have been a victim of fraud, contact the police and call CommBank on 13 2221.


The ins and outs of identity scams

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