Protect Yourself against Online Scams!

This week is National Fraud Week, aimed at raising awareness and reducing the incidence and impact of online scams.

Thousands of Australians fall victim to online fraud every year. It is estimated that one in 20 Australians will be caught by some kind of scam and that around two-thirds of consumer fraud now occurs online.

At Illawarra Credit Union we take all instances of fraud very seriously. We have a range of security measures in place to protect our members from fraud or identity theft, however members should also educate themselves to ensure they don’t fall victim to online fraud and scams, which come in many different forms.

Phishing is a common online scam where emails claiming to be from a financial institution are sent to you, asking you to verify your account details and then the scammers use those details to fraudulently obtain your money.

Scams can also occur when shopping online. Scammers can pretend to be selling a product - often at a low cost - just so they can steal your credit card or bank account details. Similarly, they may take your money but send you a faulty or worthless product instead, or even nothing at all.

Be aware of guarding your personal information – never provide your personal banking information if someone requests it and don’t respond to requests for money. Never give out your PIN, CARD number or password to anyone. Check all your debit and credit card statements thoroughly and destroy old bills and expired cards.

Do your homework - research the company you are buying from, their returns policy and contact details. Never enter your personal, credit card or online account information on a website that you are not certain is genuine.

Remember, Illawarra Credit Union will NEVER ask you for your account details in an email or message. If you receive an email that you think is a scam, report it to SCAMwatch immediately at www.scamwatch.gov.au or call 1300 795 995.

For more information about online security, call CU Direct on 13 22 49.