- ABA campaign
- financial scams
- scam awareness
With $851M lost to scams, the ABA’s new campaign urges Australians to stay vigilant against fake calls, texts, and emails.
Scam Threats Escalate as ABA Launches Awareness Campaign
With scam activity on the rise across Australia, the Australian Banking Association (ABA) has launched a new nationwide awareness campaign to help Australians identify and avoid financial scams. The campaign follows alarming statistics showing that $851 million was lost to scams in the last year alone.
Australians Facing Scam Surge
According to the ABA, reports to Scamwatch showed a 145% increase in scam calls from the previous year, rising from 34,000 to 84,000 in the year to July. New ABA research also revealed that 37% of Australians have either lost money themselves or know someone close who has fallen victim to a scam.
ABA CEO Anna Bligh stressed the widespread nature of scams: “Scammers don’t target one group over another. They target everyone – all ages, backgrounds, and income levels.”
Digital Shift Fueling Sophisticated Scams
While the digital transition brought many conveniences during COVID-19, it also opened the door to more sophisticated scam tactics. The ABA's campaign aims to counter these threats with widespread public education.
“This campaign is about helping Australians recognise scam tactics so they can protect themselves and their loved ones,” said Ms Bligh. “Banks have invested heavily to detect and disrupt scams in real time, around the clock.”
Key Messages from the ABA Campaign
- Real banks won’t ask for personal or account details via text or email.
- They won’t threaten to cancel your account or have you arrested if you don’t act immediately.
- If something feels off, stop, think, hang up, or delete the message.
Everyday Scam Attempts on the Rise
The campaign data reveals that 66% of Australians fend off scam attempts weekly, with 29% doing so daily. These figures highlight the scale of the problem and the need for consistent public awareness.
Susy’s Story: A Costly Remote Access Scam
Susy, 62, fell victim to a remote access scam after being contacted by a scammer posing as a security specialist from her phone company. He convinced her to install anti-malware software, costing her $9,700 upfront. Over time, the scammer built trust and eventually defrauded Susy of $90,000. Despite the bank retrieving the initial payment, the remaining funds were lost.
Banks Collaborating with Authorities
The ABA is also working closely with law enforcement, regulators, and the Australian Financial Complaints Authority (AFCA) to improve information sharing and ensure legislation keeps up with the fast-evolving scam landscape. The campaign is airing across radio and digital platforms until the end of October, including translations in five languages for multicultural outreach.
What You Can Do
- Hang up on suspicious calls and never click on links in unexpected messages.
- Verify requests by independently contacting your bank or service provider.
- Report scams to Scamwatch at scamwatch.gov.au to help protect others.
Scammers may be clever, but with awareness and vigilance, Australians can fight back against fraud.