26/08/2024 | Press release | Distributed by Public on 25/08/2024 22:08
ANZ Head of Customer Protection, Shaq Johnson said: "Scams are a widespread issue and a scourge on the community. At ANZ, and across the banking sector, we continue to invest in prevention and protection measures to help keep our customers safe from cybercrime."
From October 2023 to June 2024, total ANZ customer scam losses fell by around 49 per cent and the number of scam events decreased by around a third compared with the same period in 2023. In that time, ANZ has prevented more than $100 million of customer funds going to cybercriminals
The bank's data shows online platforms are the most common source of scams, accounting for almost 45 per cent of customer reports, followed by telephone or sms, and email.
"The measures we've implemented are having an impact - but while it's an encouraging sign, there is more to do, including continued focus on education to inform people about how criminal syndicates are targeting their victims, changing methodology, and what to look out for," Johnson said.
ANZ continues to invest significantly as part of its fight to help protect customers and the community from scams and other financial crimes, including:
ANZ continues to work closely with other banks, industries, government and law enforcement to collectively address scam trends and stay ahead of scammers to protect Australians.
"Criminals used to rob bank branches, but increasingly they scam customers. The landscape has evolved significantly as perpetrators become increasingly sophisticated, with complex scams that will often involve more than one victim.
"Scammers take advantage of the fact that victims feel ashamed and don't want to talk about their experience, but awareness is a critical defence in the fight against scams. By sharing stories and experiences, we not only raise awareness but also empower the community with the knowledge to recognise and avoid fraudulent schemes," Johnson said.