Scammers are getting smarter, but you can stay a step ahead. By understanding what your bank will never do, you can help recognize and avoid potential fraud.

Remember, your bank will NEVER:

• Ask for sensitive information via email or text: Banks will not request passwords, login credentials, or the One Time Passcode you may receive when accessing your account through these channels
• Threaten you with account closure if you don’t act fast: Banks do not threaten to close or lock your account if you don’t respond immediately. If you receive an email, text, or call threatening immediate account closure, it is a scam
• Make unsolicited calls asking for personal information: Banks do not call out of the blue to ask for sensitive details. Hang up if you receive a call like this
• Direct you to fake websites: Banks will never send an email or text with a suspicious link asking you to open it and log in to your account. Always check the URL carefully to ensure you’re on the official bank website – even a single different character can lead to a fake, spoofed website
• Ask you to handle overpayments: Banks do not send more than the amount owed and ask you to send back the difference in what is known as the overpayment scam
• Ask for remote access to your computer: Banks will never ask for remote access to your computer or phone, or ask you to install software which could enable remote access
• Request payment for an overdue bill or debt in gift cards: Banks do not ask for payments or fees to be made using gift cards
• Run lottery or prize schemes: Banks do not inform customers of lottery wins or prizes requiring your bank details to claim

Protect Yourself Against Scams

The CBA scam prevention toolkits offer tips to help protect against scams. Here are some additional ways to protect yourself:

• Verify before you act: If you receive a suspicious call or message, contact your bank directly using the number in their app or official website. Never use a link in the message
• Enable Multi-Factor Authentication (MFA): Adding an extra layer of security to your banking and email accounts can prevent unauthorized access
• Monitor your accounts: Regularly review your bank and credit card statements for any unauthorized transactions
• Report suspicious activity: If you suspect fraud, contact your bank immediately and refer to our Guide for how to report scams. Doing so helps keep you safe, protects others, and makes it harder for scammers to succeed
• Stay informed: Keep up with the latest scam trends by following fraud prevention alerts from the CAFC, signing up for the CBA’s free fraud prevention newsletter, and reading alerts from your bank
• Never share personal information: Banks and government agencies will never ask for your Social Insurance Number, passwords, or full account details over the phone, through text, or by email
• Trust your instincts: If something feels off, take a step back and double-check the source before responding

As scammers continue to evolve their tactics, staying informed is your best defence. Take time to educate yourself and your loved ones about financial scams. By recognizing red flags and adopting safe banking habits, you can protect your hard-earned money and personal information from falling into the wrong hands.

For more updates and scam alerts, explore the CBA’s Scam Prevention resources.