What’s an impersonation scam? 
 

Scammers go to great lengths to look authentic. Before contacting someone, scammers do their research and have well-thought-out details at hand, such as partial card and account numbers. This level of detail allows to scammer to gain the customer’s trust as they sound more convincing. 
 

Recently, scammers have been cold-calling people and using sophisticated scripts and techniques to sound more professional and believable. For example, scammers may introduce themselves as a Bank employee using names and job titles obtained on platforms such as LinkedIn to convince the customer that they’re talking to someone from your bank. 


 

In 2022, Scamwatch received 14,603 reports on bank impersonations with more than $20 million reported lost. More than 90 of these reporters individually lost between $40,000 and $800,000*. It’s important to stop and consider when we’re being asked to give personal information. 
 

What to look out for 
 

• Unsolicited contact. Consider whether being contacted makes sense in this scenario. 

• Scammers often pitch the reason as urgent and want you to act quickly. 

• They pretend to be from the fraud security team to sound more legitimate. 
 

Remember 
 

• A bank will never ask you to transfer funds to another account. 

• Never share passwords with anyone 

• Check contact information and bank details for yourself using a trusted source. If you think you’re on the phone with a scammer, hang up and call the bank yourself on a trusted number. 

• Avoid using phone numbers from text messages, contact your bank directly using a trusted source. 
 

For more tops on how to protect yourself, visit Macquarie’s scam guide https://www.macquarie.com. au/security-and-fraud/scams/avoiding-scams-in-australia-reference-guide.html?utm_source=email&utm_medium=edm&utm_campaign=aw_client-protection_impersonation-scams#impersonation-scams 
 

This communication is an important educational message and includes information on how to contact Macquarie if you’ve been impacted by a scam. It’s part of an educational program to help you identify scams and protect yourself given the financial impact scams are having on Australians. 
 

*Source: Targeting Scams - Report of the ACCC on scams activity 2022 

Article Source: Macquarie communications https://www.macquarie.com.au/security-and-fraud. html?utm_source=email&utm_medium=edm&utm_campaign=cv_client-protection_impersonation-scams-need-help-section