A cunning bank scam wipes out couple's $240,000 life savings—are your funds at risk, too?

In an age where digital convenience is often celebrated, the darker side of our online world reveals itself in sophisticated scams that can devastate lives in the blink of an eye.

This harsh reality hit home for a Sunshine Coast couple, Kerry O'Mahony and Kerry Littlejohn, who fell victim to a cunning bank scam that wiped out their life savings, a staggering quarter of a million dollars.

This cautionary tale serves as a stark reminder that no one is immune to the threat of financial fraud, and it begs the question: Are your funds at risk, too?



The couple's ordeal began innocently enough as they sought to maximise their returns by shopping around for the best interest rate on their term deposit.

They came across an offer from ING Australia, or so they thought, which led to a series of events that would culminate in a financial nightmare.


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Sunshine Coast couple fell victim to a cunning bank scam, wiping out their $240,000 savings. Credit: Shutterstock


‘I clicked on obtain a quote, and within, I think, about a day or two of doing that, we had a phone call…from ING,’ O'Mahony said.

The purported ING employee provided them with competitive quotes, documents, contracts, and payment instructions, all adorned with the bank's official logos. However, it was all an elaborate facade.

The couple's savings were with Suncorp bank at the time, necessitating a visit to their local branch to facilitate the transfer of funds.

Despite some initial doubts, the Suncorp teller, after reviewing the emails, suggested, ‘He looked at [the emails], and then he said “yeah, it looks alright, but you know if you're really concerned, you can ring ING”,’ O'Mahony said.

O’Mahony did just that in front of the teller, using a contact number from a Google search.



‘I did a Google search for the ING contact number. [It] was exactly what I put in, and it came up: 13 34 64,’ she said.

‘It is their phone number, but I rang it, and I didn't get through to ING, I got through directly to the scammers.’

Assured by the fake ING representative on the other end of the line, the couple proceeded with the transfer.

The telltale signs of a scam were present but went unnoticed.

The account details provided by the scammers were for a Commonwealth Bank account, not ING, and the email address used was not an authorised ING email.

By the time the couple realised the scam and contacted Commonwealth Bank, their $240,000 had vanished.



‘[It was] taken out pretty much straightaway and then moved around the world through various IP addresses,’ O'Mahony said.

The pair blamed the scammers for the incident, but they also asserted that Suncorp is accountable.

‘I just felt that [Suncorp's] duty of care to us was sadly lacking,’ O'Mahony said.

O’Mahony and Littlejohn filed a complaint with the Australian Financial Complaints Authority.



In response, Suncorp Bank has stated that it is supportive and will fully participate in the external review process by AFCA.

ING and Commonwealth Bank have also released statements acknowledging the increasing sophistication of scams and the importance of educating customers on protecting themselves.

You can read Suncorp Bank’s full statement below:
This case is currently being reviewed by AFCA, the independent dispute resolution body for consumers with financial complaints.

Suncorp Bank is very supportive and will fully participate in this external review process.

Suncorp Bank understands the impact frauds and scams can have on individuals.

Alongside the banking industry, we are committed to implementing the
measures outlined in the Scam-Safe Accord including account name checking for domestic payments.

If you suspect you may have been scammed, please reach out and report your experience to the ACCC: https://www.scamwatch.gov.au/report-a-scam
Key Takeaways

  • A Sunshine Coast couple lost nearly $240,000 in a sophisticated scam involving a fake ING employee and counterfeit email documents.
  • Despite being cautious and consulting a bank teller, the couple's call to verify the scammer's legitimacy was intercepted via phone spoofing, leading them to believe they were speaking to ING.
  • The scam highlighted failings in the verification processes, as the money was sent to a Commonwealth Bank account rather than ING, a detail that was overlooked.
  • The couple has lodged a complaint with the Australian Financial Complaints Authority, and all banks involved have acknowledged the need for increased awareness and prevention of such sophisticated scams.
Have you or someone you know been affected by a similar scam? What measures do you take to safeguard your savings? Join the conversation below and help us spread the word on staying scam-safe.
 
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Husband got a text message saying his credit card had been blocked due to possible fraud. Not trusting it was real refused to call the number. Fortunately we still had a branch we could visit. Turned out the message was real as someone had tried to pay Uber $96 with my husbands Visa card number. (No idea how unless Uber do online payments). Bank cut up his credit card and issued a new card and number. thankyou ANZ.
 
A
Better at treating their employees with utter contempt, including branch managers!

What other bank closes their branches for a hour a day for the purpose of....LUNCH!??

What other bank charges customers of other financial institutions a $2.50 charge to use their ATMs?

What other bank closes its local branch unexpectedly then informs you the nearest branch is ONLY 13 kilometres away?

Bendigo Bank of course! The next worst bank....the WORST of all!
Agree. It should be named the "Woke Bank".
 
Husband got a text message saying his credit card had been blocked due to possible fraud. Not trusting it was real refused to call the number. Fortunately we still had a branch we could visit. Turned out the message was real as someone had tried to pay Uber $96 with my husbands Visa card number. (No idea how unless Uber do online payments). Bank cut up his credit card and issued a new card and number. thankyou ANZ.
I placed an ad on Gumtree the other day. Immediately I got a reply, saying her husband would pick up and then asking for my bank account details or PayerID
I replied "sorry, cash only" on pick up and there the conversation ended, as I expected.
Next morning I got an email stating a complaint had been made and my account temporarily closed until I verified myself.
This message looked genuine, same Gumtree letterhead, etc.
To provide verification I was required to supply my credit card details
.
Luckily I didn't come down in the last shower. Went
on to Gumtree site and there was my ad.

Please be careful, don't provide any details to these scammers and definitely don't take any notice of what looks like a very genuine email from Gumtree
asking you to provide details.

Stay safe!
 
Do any banks still have a counter and face to face contact? And what about Credit Unions? Can these please be advertised so that we can transfer our accounts to them?
Yes P&N bank have face to face they were originally a credit union ( I think) but when I changed from Bankwest to them best thing ever the staff here in BUNBURY W.A are amazing .i hadn’t been in for ages but last week I needed some advice ect and the girl that spoke to me remembered my name AWSOME HAY
 

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