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Common types of fraud and scams

There are lots of ways you can protect yourself against fraud and scams, but knowledge and being aware are key.

How you may be targeted

Criminals try to steal your personal details through various ways using existing technology. Beware of:

  • Email scams (Phishing)
  • SMS scams (Smishing)
  • Voice scams (Vishing)

For more information on ways to protect your personal details, please visit our Cyber Awareness page.

Remember scammers are constantly coming up with new ways to target potential victims so it's important you keep vigilant and informed. You can visit scamwatch.gov.au to keep up to date with the latest scams.

Common Scams/Frauds

Romance scams

Scammers take advantage of people looking for romantic partners, often via dating websites, apps or social media by pretending to be prospective companions. These scammers play on your emotions to get you to provide money, gifts or personal details. Many times victims are too embarrassed about their loss to report the crime.

Typical scenario:

A stranger strike up a conversation with some form of mutual interest or suggests you may have similar hobbies. They then suggest chatting privately outside of dating websites or apps e.g. social media/email. Often, what they tell you in private does not match their public profile. They work to gain your trust (sometimes over several months) and then tell you an elaborate story asking you to provide money, gifts, or personal details such as bank account or credit card details.

Signs to watch out for:

  • They may be reluctant to meet in person, and will provide excuses why they are unavailable.
  • Their messages will often be poorly written and in most cases, escalate quickly into professing their love for you.

Remote access scams

Criminals might reach out to you posing as a legitimate business or provider, often claiming to be there to protect you from fraud or scams. They create a feeling of urgency and danger to try and get you to do things that could compromise your bank details so they can steal money from your accounts.

Typical scenario:

A fraudster calls, impersonating your internet provider. They tell you that you have some connection problems or your bill is overdue and while on the line they may request remote access to your computer and for you to do things like make an immediate payment through your internet banking. The fraudster then has the opportunity to steal your banking details and move money out of your account or convince you to transfer funds to a false account.

Signs to watch out for:

  • This provider doesn't usually contact you in this manner.
  • The story/scenario they are telling you seems unlikely or abnormal somehow.
  • They make requests that seem unrelated to the conversation.

Account takeover fraud

This growing crime is a form of identity theft. Scammers typically try to find out your personal or security details, such as your date of birth, spending activities or where you opened your account. Equipped with this knowledge, they assume your identity and begin communicating with your bank to gain access to your accounts and funds.

Typical scenario:

A criminal steals your personal details through digital (stalking your social media) or physical means (i.e. mail theft). Using the compromised details, they successfully convince your bank that they are you, and then change your contact details such as your email or mobile number to ones they control, so they have unlimited access to your accounts.

Signs to watch out for:

  • Sharing too many personal details on social media.
  • Missing or delayed letters you were expecting to receive from your bank.
  • Unknown businesses or services calling you and requesting personal details.

Have you been a victim of a scam or fraud?

If you think you've fallen for any scam, or you believe your security has been compromised, or you notice a transaction you did not make:

Contact HSBC immediately on (+612) 9005 8220 or visit your nearest HSBC branch.

 

Report the situation to the following government agencies:

If you suspect you have been the target of fraud or scams, or your identity has been stolen or compromised in any way, it is also recommended you report this to:

  • the Australian Cybercrime Online Reporting Network at acorn.gov.au
  • IDCARE on 1300 432 273 or via http://www.idcare.org. IDCARE is a free, Government-funded service that provides support to victims of identity crime to help them plan a response when they have had their personal information taken
  • scamwatch.gov.au
  • your local police on 131 444

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Here's how you can keep yourself safe from financial crime.

 

A look at some of the most common scams related to COVID-19.

 

Tips to protect yourself from elder financial abuse.

 

Learn more about how we can help.