Scammers likely to exploit election activity to steal personal and financial data
As the federal election draws near, Bendigo Bank is urging the public to remain alert amid a likely increase in scam activity aimed at obtaining personal and financial details.
With campaign season in full swing and Australians receiving a higher volume of calls, texts, and emails, the bank cautions that some of these interactions may come from fraudsters posing as official entities.
“Scammers may pose as government agencies, political parties and representatives, or financial institutions, using phone calls, emails, text messages or even door-knocking to trick Australians into handing over sensitive details,” said Aaron Westberry, senior manager of customer protection at Bendigo Bank.
Westberry advised the public to be cautious of anyone requesting personal details under the guise of updating electoral rolls, seeking political donations, or reporting suspicious activity on bank accounts.
“Be on the lookout for anyone soliciting personal information for electoral roll updates, requesting donations, and of course, warning of fraudulent activity on your bank accounts,” he said.
“Scammers never sleep, but they’re likely to be working overtime in the lead up to May 3, as we often see that criminals exploit things like major events or seasonal occasions, like elections, to create urgency and pressure people into making quick decisions.”
Financial institutions across Australia have continued to strengthen efforts to combat scams. In 2023, the Australian Banking Association and the Customer Owned Banking Association signed the Scam-Safe Accord, aimed at boosting security standards and safeguarding customers from fraud.
“We are continually updating protections to try to stay ahead of the scammers,” Westberry said. “But by working together with our customers, we can even further reduce the incidence of scams and fraud.”
He pointed to a recent incident where the bank prevented a customer in Victoria from losing over $900,000 through an impersonation scam. “Our systems stopped suspicious transactions, and we were able to contact the customer while they were still on the phone to the scammer and shut down a scam in action.”
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