��Fraud Week�� kicks off in Australia

Monday March 1, 2010

Australia is in the midst of its "Fraud Week" campaign, which will run until March 7th 2010, which is focused on raising awareness of online consumer fraud committed such as scams and hoax emails, also known as phishing. The week, organised by the Australasian Consumer Fraud Taskforce (ACFT), is hoping to promote safe online banking and financial transactions in order to minimise the risk of cyber crime.

The Australian Bankers' Association has issued statements warning banking customers of the dangers and threat of cyber criminals and the increase of scams on the public.

The Australian Bankers' Association stated that Australian banks and the Police force have been working together to identify, disrupt and investigate cyber crime and the surging number of online scams.

In fact, The Joint Banking and Financial Sector Investigation Team are working very closely with the Australian Federal Police.

David Bell, Chief Executive of the ABA, said: "Banks work diligently to protect their customers from fraud perpetrated by criminals. Systems such as special detection software can flag if fraud is occurring. Banks can act immediately to limit losses and inform customers even before they may be aware there is a problem."

Apparently there has been a surge in the number of hoax emails that claim to be from a person's banking institution, asking for bank account detail confirmation details, updating personal information such as PINs and Internet banking logon details. The ABA has stressed that no bank would ever do this or use email to contact their customers in regards to this sort of information.

In fact, some cyber criminals have even gone so far as to set up replica bank websites for your details to be entered, thereby giving them criminals full details of your accounts.

Mr Bell stated in a release from the ABA "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."

The ABA explains that there are simple and easy rules that every person can follow when it comes to minimising customers' exposure to becoming victims of this crime. Below are outlined the steps that any banks customer, or consumer, can use to protect themselves from criminal or fraudulent activity.

Australian Banker's Association Tips to protect your financial identity:

• Don't give your PIN or Internet banking login or password to anyone;
• Additionally, always cover your hand when entering your PIN when using an ATM or EFTPOS terminal
• Delete spam and scam email, ignore any offers that sound too good to be true
• Keep your anti-virus and firewall software up-to-date
• Be sure to logon to Internet banking by typing in the bank's full web address
• Don't use public computers for Internet banking
• Keep your personal identity details private including date of birth, current address, driver's licence number and passport details.
• Never lose sight of your cards, don't give your card to a waiter or shop assistant and let them walk out of your sight

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