Cassandra Hewett & Marc Broome
Head of Financial Crime and Complex Investigations Lead, ANZ
“Hello, I am calling from your bank. Your account has been compromised and I need your password to secure it again.”
To most people, this interaction would raise a red flag of a potential scam.
” Scams can cost customers money and cause mental and physical health issues.”
But what if the scammer looked and sounded exactly like who you might expect? Your boss; a supplier; an investment advisor; the Tax Office?
More and more individuals are falling victim to complicated, well-planned scams like business email compromise or investment-based scams.
Any individual can fall victim to a scam. Scammers don’t discriminate and will target people of any gender, age-group or socio-economic background – though scammers often do target the most vulnerable people in society such as the elderly.
Learn more about which Australians suffer the most from scams in the infographic below.
On the front foot
ANZ is tackling scams through technology, people and partnerships.
Existing technology is being enhanced to detect and prevent scam payments and new technologies are being explored to complement the existing control environment.
ANZ has established dedicated teams to respond to scams in its Australia Retail and Commercial business and New Zealand while the Institutional bank has partnered with ID Care, a not-for-profit organisation that supports victims of identity and cyber fraud, including scams.
The bank is also working closely with other banks and law enforcement agencies to disrupt scam activities.
Cassandra Hewett is ANZ’s Head of Financial Crime and Marc Broome is Complex Investigations Lead at ANZ
The views and opinions expressed in this communication are those of the author and may not necessarily state or reflect those of ANZ.