Bendigo Bank is issuing a warning to its 2.5 million customers to remain alert against social media scams as Scams Awareness Week approaches.
“Social media is a primary origination point of online shopping scams, impersonation scams, investment scams, romance scams, and employment scams,” said Jason Gordon (pictured above), Bendigo Bank’s head of customer protection.
Australians lost $80.2 million to such scams last year.
Bendigo Bank advises customers to watch for signs of social media scams, including fake accounts, suspicious investment opportunities, and requests for too much personal information.
“Lack of history, detail, and followers can be a sign of a fake profile,” Gordon said.
He also cautioned against offers that seem “too good to be true” and job opportunities that promise quick earnings.
Investment scams remain a significant threat, with more than $78m lost in 2024 already.
Gordon advises skepticism for any social media ads or celebrity endorsements, urging people to verify details before engaging with opportunities.
“Never assume social media ads or endorsements are legitimate,” he said.
Bendigo Bank has been proactive in combating fraud, stopping $38.6m in fraudulent transactions last financial year.
Since launching its face-to-face education program in 2023, the bank has helped more than a thousand customers navigate online banking safely.
“By working together with customers, the incidence of scams and fraud can be reduced," Gordon said.
For customers who believe they’ve fallen victim to a scam, Bendigo Bank urges them to visit www.bendigobank.com.au/security immediately to report the incident and get support.
“Act quickly if something feels wrong,” Gordon said, advising customers to follow ScamWatch’s “stop, think, protect” guidelines to safeguard against fraud.
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