“Beware of hoax e-mails purporting to be from your bank, asking for you to update your personal information such as PINs and Internet banking logon details. This information should remain confidential. Your bank will never e-mail you to ask you for this confidential information.”

AFP National Manager High Tech Crime Operations, Neil Gaughan said, “Consumers should also be aware of websites that ask for these details. These will often re-direct you to a replica of your bank’s website. Such websites are set up by fraudsters and criminals to steal the customer’s information.”

Commander Gaughan said: “It is no secret that criminals attempt to use payment systems to facilitate other serious criminal behaviour, including online child sex exploitation and drug trafficking. The operation of these teams has positive benefits, not just for banks and their customers, but for all Australians.”

“We are seeing very sophisticated attacks from cybercriminals in a whole range of areas. Organised crime is using technology to enable their criminal enterprise and continue criminal activity.   In this environment, it is becoming even more critical that we can identify, disrupt and investigate these crime groups bringing them to account for their crimes. This can only happen through strong collaboration and cooperation with the private sector,” Commander Gaughan concluded.

The Joint Banking and Financial Sector Investigation Team works very closely with the AFP’s Identity Security Strike Teams. These teams have been very successful to date in identifying and prosecuting those involved in identity theft.

Mr Bell said: “Banks are continuing to improve security for customers, especially for online banking. Recent measures have included advances in monitoring customer and transaction patterns and intelligence on criminals and their activities, advances in the encryption of customer data, use of on-screen keypads - designed to prevent the incidence of keystroke logging fraud, use of security tokens and SMS alerts to telephones.”

“Bank customers are protected from loss in genuine fraud cases. Account holders are not liable for losses resulting from unauthorised transactions where it is clear that the user has not contributed to the loss. There is usually an investigation by the bank to determine how the fraud has occurred,” Mr Bell concluded.

Tips to protect your financial identity

1. Don’t provide your PIN or Internet banking login or password to anyone;

2. Delete spam and scam e-mail – 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 full web address, i.e. the URL;

5. Don’t use public computers for Internet banking e.g. Internet cafes, libraries or hotels;

6. Guard the following identity information carefully and only provide to trusted people and entities: date of birth, current address, driver’s licence number and passport details.

More information

The ABA, Australian Securities and Investments Commission (ASIC) and the Australian High Tech Crime Centre (AHTCC) have worked together to produce a website called ‘Protect Your Financial Identity’ which also provides tips on how you can avoid becoming a victim.

Customers can also find information on this website and the Federal Government’s website – Stay Smart Online for more tips on how to protect yourself and your information online.

For further information:

Heather Wellard, ABA PR
Phone: 02 8298 0411   Mobile: 0409 830 439

AFP National Media
Phone: 02 6275 7100