Protecting your money: Cyber Security

An impersonation scam is when a scammer makes direct contact with you while impersonating a familiar person or a trusted organisation. They do this to gain access to your personal information and/or money, and both their methods and means of contact can vary. Impersonation scammers may even appear to call or SMS under the same number as an institution you trust.

They might contact you through SMS message or other messaging platforms, phone call, email, or even social media. Their methods can range from pleading or threats to innocently offering you a discount on services. Anyone can be targeted, and anyone can be impersonated. But as scary as that may sound, there are some reliable ways to spot these scams before it’s too late:

1. An unsolicited or unexpected call, email or message. “Emails or text messages which you don’t expect to receive, with links to provide your personal information are also unlikely to be from legitimate organisations,” explains Erica. “For example, a text in the middle of the night about an undelivered parcel, requesting you to confirm delivery details via a weblink is a huge red flag.”
2. Being prompted to follow a link to an external website and fill in your details.
3. An urgent request for action.
4. Request for you to share sensitive information (PINs, usernames, passwords).
5. Being asked to download a file.
6. Being informed of an unauthorised transaction or asked to confirm a payment you didn’t make.

Impersonation scams constantly evolve and exploit trusted brands to deceive victims. Visit anz.com.au/security/types-of-scams/impersonation-scams/ for more information on impersonation scams.

These scams involve criminals stealing your personal information (name, date of birth, and Tax File Number). With this data, they can open bank accounts, credit cards, and other financial accounts in your name, leaving you with the debt and a damaged credit score.

We recommend that you:

• Keep your personal information secure and beware of unsolicited messages asking for it.
• Regularly check your bank accounts for suspicious activity.

If you suspect that your identity has been stolen, contact your bank or financial institution immediately and report the fraud to the Australian Cyber Security Centre.

What is Credential stuffing and how can you protect yourself against it?

Cyber-attacks are evolving and becoming more sophisticated every day. One of the latest attacks allows hackers to access members’ accounts using their stolen passwords, via a method known as Credential stuffing.

Credential stuffing is a type of cyber-attack whereby cyber criminals collect stolen usernames and passwords available on the dark web from previous data breaches, and then attempt to use those credentials on other websites or services. If an affected user uses the same password across multiple accounts, a successful credential stuffing attack could compromise all of their accounts.

To protect against this type of attack, it is important to follow the cyber security advice as given by the Australian Government with 3 easy steps:

• Set up multi-factor authentication to add an extra layer of security to your online accounts.
• Create strong and unique passphrases of 14 or more characters long. These passphrases should be different for each account you hold.
• Install software updates regularly to keep your devices secure.

Please refer to the Australian Government’s best cyber practices and protect yourself online at cyber.gov.au