The unfolding catastrophic floods in Queensland and New South Wales could lead to a spike in scams, Westpac has warned.
The bank urged individuals and businesses to be extra careful as scammers often exploit disastrous events to take advantage of unsuspecting victims.
“Time and time again, following a significant event or natural disaster, we see an increase in people being duped by scams; for example, after the devastating 2020 bushfires,” said Chris Whittingham, Westpac’s general manager of fraud prevention and financial crime. “This is a tactic fraudsters have continued to adopt throughout the pandemic where scams have almost tripled, exploiting the hearts and wallets of those experiencing hardship, or who have sought out items in high demand, like Rapid Antigen Tests.”
Whittingham said fraudsters will try to use the current flood crisis to take advantage of Australians’ generosity and support by setting up fake donation sites, or even posing as insurers, businesses, or government organisations offering help to the victims themselves.
“We are urging people to be on high alert to the possibility of scams and closely check that any websites or charitable organisations are legitimate before sending funds or your personal information,” Whittingham said.
To remain protected against scams:
Westpac recently rolled out a $2 million fund to help small businesses impacted by the floods in Queensland and New South Wales access financial help. Eligible small business customers can apply for $3,000 in cash grants per customer group to help with urgent expenses or repairs by contacting their banker or calling Westpac customer support teams.
