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Scams and Cyber Threats

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Scams 101 - What you should know

Though scams differ, they all have the same objective: to convince victims to send money or allow access to their financial accounts. If you take part in a scam, you could lose more than just the funds in your account. It’s illegal to knowingly take part in a scam and can result in hefty fines, criminal charges, or both.

There are many ways for scammers to steal funds. Here are the most common methods.

Wire transfer: A wire transfer is an immediate form of payment. Once a scammer has obtained the funds you wired in exchange for a cheque, the wire transfer cannot be reversed, even if the cheque is fraudulent.

Money transfer: Scammers convince you to send the funds through online banking or other money transfer services, like ExpressSend® or Zelle®. If scammers get your online credentials, they can move your money themselves.

Cheque: Scammers may ask you to cash or deposit a bad cheque on their behalf and transfer the funds to their account before the cheque has cleared. 

Note: You are responsible for the full amount of the cheque you deposited and associated cheque fees if it bounces. It may typically take up to 10 business days for a cheque to be discovered as fraudulent and returned to your bank. (This varies by state and can take up to a few years.)

Debit or Credit card: Scammers may use your debit or credit card number to make unauthorized purchases.

What you can do

If you believe you have become a victim of a scam, you may still be able to stop scammers in their tracks. Here's what you can do:

  • If you provided your internet banking password, change it immediately via Internet Banking and contact us immediately.
  • If you shared your card details, you'll need a new card. Lock your old card and/or request a new one via Internet Banking or the Bankstown City Unity Bank app or give us a call
  • If you've clicked a link or opened an attachment from the scam or hoax message or if you were accessing Internet Banking at the same time you received and acted on the suspicious message, close your browser, empty your browser cache and clear your browser history. Then perform a virus scan on your computer using anti-virus software. If you’re on a mobile device, make sure you have updated your operating system, are running the latest version of the Bankstown City Unity Bank app and run an anti-virus scan if one is available on your device.

If you're worried or you’ve noticed a suspicious transaction, call us immediately on 1300 65 4477.

Report a Scam