Sydney, 27 February, 2006: The banking industry will be providing bank customers with more information about the dangers of scams and how to avoid them.

The Australian Bankers’ Association (ABA) and its retail member banks will be participating in the Australasian Consumer Fraud Taskforce’s (ACFT) Scamwatch campaign.

David Bell, Chief Executive of the ABA, said: “Banks and the ABA will provide to customers through various channels the advice provided by the ACFT about the danger of scams. This will add to the security information banks already make available to customers.”

“Banks are participating in this campaign because they agree that education is one of the key weapons in the fight against crime, such as scams and phishing , by ensuring everyone is aware of the steps they can take to minimise these criminal activities.”

“Banks use many safeguards to protect your information such as staff training, strict privacy policies, rigorous security, tough encryption systems and sophisticated software systems to seek out fraudulent transactions.”

"Banks will never send you an email asking for personal security details like your Internet banking password or PIN. Customers should be wary of anyone asking them for their PIN or Internet banking password which, in all likelihood, could be a criminal attempt to gain access to your account.”

“When customers access the Internet through e-mail or the World Wide Web, it’s important they safeguard their personal information.”

“All users of the Internet have a responsibility to protect themselves against Internet crime and there are practical ways consumers can protect themselves and reduce risks of fraud perpetrated by criminals over the Internet.”

Tips to protect your financial identity

1. Don’t provide your PIN or Internet banking password to anyone if asked;
2. Delete spam and scam email – if the offer sounds too good to be true – it probably is;
3. Keep your anti-virus and firewall software up-to-date;
4. Always logon to Internet banking by typing in your bank’s web address, i.e. the URL;
5. Don’t use public computers for Internet banking e.g. Internet cafes, libraries or hotels.

To build further awareness of scams, banks are participating in the ACFT campaign by disseminating information to customers by all or some of the following channels:

• Bank website links to the Scamwatch website;
• ATM messages;
• Statement information;
• ACFT Brochure – distributed to customers by mail.

Notes for editors:

As part of the whole of Government approach to combat consumer fraud and scams, the ACFT was established in March 2005 and comprises 18 government regulatory agencies and departments in Australia and New Zealand. For more information please visit: www.scamwatch.gov.au.

The ABA and its retail member banks are part of the private sector partnership providing assistance disseminating information to consumers.

Banks provide information on security on their websites for their customers. In addition, the ABA has produced some fact sheets for consumers on protecting information online.