How $370,000 was stolen from Melbourne couple: ‘It was a nightmare’

Picture this: Your bags are packed, your tickets booked, and you're just about to set off on a long-awaited family holiday when a phone call from your bank shatters your peace.

The beginning of an overseas adventure suddenly became a real-life horror story for John and Julie from Melbourne. Their devastating experience illuminates the alarming increase in identity theft cases in Australia.


As they were getting ready for their next great adventure in May, Bankfirst called the pairabout suspicious activity in one of their accounts. They then noticed that his phone was on ‘SOS’ mode.

It turned out they were experiencing a phenomenon known as 'porting', meaning someone had gained control of John's mobile number and transferred it to another device.

The couple reacted promptly. They contacted their banks, credit card providers, and telco–which included the names of Westpac, ANZ, Macquarie, Qantas Travel Money, and Woolworths Mobile to inform them of the situation. Confident that they had safeguarded themselves, they departed for their overseas trip the following day.

Yet, little did they know, the horror had only just begun. While abroad, they noticed some money had been missing from their accounts.


They eventually got ahold of the banks, who instructed them to go to a branch to confirm their identity. This was not possible, of course, as they were overseas. Due to this, they could not access their accounts, and they were not aware of the extent of their financial loss.

The couple continued their holiday after reassurances from their family. ‘We probably would have come home if we weren't meeting our family–it was a trip we had planned for years to meet all their kids and their partners,’ Julie said.

Upon their return home in early July, they were confronted with the stark reality that fraudsters had stolen a staggering $370,000 from their accounts, sold shares worth $45,000, and created a whopping 20 credit and debit accounts under their names.


pexels-pixabay-259200.jpg
The scammers opened 20 credit and debit cards under John and Julie’s names. Credit: Pixabay/Pexels


The crafty scammers didn't just stop there. The fraudsters had ported the couple's phones and accessed John's email account, messaging friends, family, and work clients to lure others into their web of deception.

Turning to their banks, they were met with apprehension in place of assistance.'They made us feel like we were the criminals,' remarked John.

‘It was a nightmare,’ Julie said. ‘You couldn't get through to anybody, we were on hold for hours on end.’

As of writing, Bankfirst and Commonwealth Bank have returned the couple’s money. Some banks like Macquarie Bank and CMC Markets have also agreed to reimburse the lost funds. Other banks, however, are still investigating the incident.

This unsettling experience reveals how the system can fail those who are the victims of such heinous acts. Their mental health took a severe dip.

As Julie summarised, 'I've never in my life had anxiety, but ever since, I feel like I've been living in this hyper-vigilant state. You just think there's no hope of getting out of this.’

Although the semi-retired couple, who wished to keep their surname private, were aware they had been part of the Medibank and Latitude data breaches, they remained unsure how the perpetrators got their licence and passport details.


Cassandra Cross, a Queensland University of Technology Associate Professor, said that the cybercriminal could have gotten bits of information from data breaches and social media to break into an online account.

‘Australians have been targeted by a number of significant data breaches in recent times,’ she shared.

‘If we think about the type of personal information a motivated offender could piece together, fairly quickly they could have a holistic account of a person's identity.’


Screenshot 2023-08-09 102424.png
Scammers could piece together a person’s identity through information from data breaches and social media. Credit: Towfiqu barbhuiya/Unsplash


Prof Cross pointed out that this hair-raising incident brings to light some pressing issues that need immediate attention, such as the ability for cybercriminals to open multiple online accounts without detecting the true identity of the account holder and how phone porting can turn off the effectiveness of two-factor authentication.

The incident has also emphasised the need for some significant changes. Consumer Action Law Centre's chief executive, Stephanie Tonkin, has highlighted the need to impose tighter bank regulations. They should be compelled to detect and effectively respond to identity thefts and the frauds and scams that inevitably follow.

She mentions that laws passed in the UK require banks to reimburse scam victims' money. The country’s largest banks are also set for a parliamentary inquiry on what they could be doing more for Aussies who’ve been victimised by scammers.

‘Given the incredible sophistication and proliferation of scams and fraud in Australia, we can't expect individuals to protect themselves–there's no indication of what went wrong,’ Tonkin pointed out.

‘Banks are the only ones in the position to detect and protect customers from scams and fraud.’

John and Julie’s saddening case also exposes another regulatory loophone: it is unknown which agency would have oversight over identity theft cases stemming from data breaches.

According to Minister for Finance Katy Gallagher and Minister for Cyber Security Clare O'Neil, the federal government’s National Strategy for Identity Resilience–announced in late June–can help address this problem.

Their press release said, ‘The initiatives within the strategy will help to address gaps and long-standing barriers to achieving identity resilience nationally, including improved responses to large data breaches.’

The Australian Competition and Consumer Commission (ACCC) earlier defined a scam as 'when someone deceives you into providing personal or financial information so they can steal from you'. However, with the increasing cases of identity theft, the definition may soon need to include scams that have grown from data breaches.


Key Takeaways
  • A Melbourne-based couple named John and Julie fell victim to a sophisticated identity theft scheme, losing $370,000 to fraudsters.
  • The couple discovered fraudulent activities in their bank accounts while overseas. Despite notifying their banks, credit card providers, and telcos, the fraudsters managed to drain their accounts and sell off their shares.
  • They said the customer service they received from their banks was disappointing, making them feel like criminals. Efforts to rectify the situation were very stressful and frustrating, which affected their mental health.
  • Cassandra Cross, a Queensland University of Technology Associate Professor, believes the cybercriminals could have gotten bits of information from data breaches and social media to break into an online account.
  • Consumer Action Law Centre Chief Executive Stephanie Tonkin advocates for regulations compelling banks to better detect and respond to identity theft resulting from fraud and scams.

At the SDC, our sympathy goes out to John and Julie, who endured this unnerving experience. And we hope this tale raises awareness about the potential dangers lurking behind seemingly harmless smartphone screens. Stay safe, folks, and be careful where you click!

What do you think of this story, dear members? Share your thoughts in the comments below!
 
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Picture this: Your bags are packed, your tickets booked, and you're just about to set off on a long-awaited family holiday when a phone call from your bank shatters your peace.

The beginning of an overseas adventure suddenly became a real-life horror story for John and Julie from Melbourne. Their devastating experience illuminates the alarming increase in identity theft cases in Australia.


As they were getting ready for their next great adventure in May, Bankfirst called the pairabout suspicious activity in one of their accounts. They then noticed that his phone was on ‘SOS’ mode.

It turned out they were experiencing a phenomenon known as 'porting', meaning someone had gained control of John's mobile number and transferred it to another device.

The couple reacted promptly. They contacted their banks, credit card providers, and telco–which included the names of Westpac, ANZ, Macquarie, Qantas Travel Money, and Woolworths Mobile to inform them of the situation. Confident that they had safeguarded themselves, they departed for their overseas trip the following day.

Yet, little did they know, the horror had only just begun. While abroad, they noticed some money had been missing from their accounts.


They eventually got ahold of the banks, who instructed them to go to a branch to confirm their identity. This was not possible, of course, as they were overseas. Due to this, they could not access their accounts, and they were not aware of the extent of their financial loss.

The couple continued their holiday after reassurances from their family. ‘We probably would have come home if we weren't meeting our family–it was a trip we had planned for years to meet all their kids and their partners,’ Julie said.

Upon their return home in early July, they were confronted with the stark reality that fraudsters had stolen a staggering $370,000 from their accounts, sold shares worth $45,000, and created a whopping 20 credit and debit accounts under their names.


View attachment 27013
The scammers opened 20 credit and debit cards under John and Julie’s names. Credit: Pixabay/Pexels


The crafty scammers didn't just stop there. The fraudsters had ported the couple's phones and accessed John's email account, messaging friends, family, and work clients to lure others into their web of deception.

Turning to their banks, they were met with apprehension in place of assistance.'They made us feel like we were the criminals,' remarked John.

‘It was a nightmare,’ Julie said. ‘You couldn't get through to anybody, we were on hold for hours on end.’

As of writing, Bankfirst and Commonwealth Bank have returned the couple’s money. Some banks like Macquarie Bank and CMC Markets have also agreed to reimburse the lost funds. Other banks, however, are still investigating the incident.

This unsettling experience reveals how the system can fail those who are the victims of such heinous acts. Their mental health took a severe dip.

As Julie summarised, 'I've never in my life had anxiety, but ever since, I feel like I've been living in this hyper-vigilant state. You just think there's no hope of getting out of this.’

Although the semi-retired couple, who wished to keep their surname private, were aware they had been part of the Medibank and Latitude data breaches, they remained unsure how the perpetrators got their licence and passport details.


Cassandra Cross, a Queensland University of Technology Associate Professor, said that the cybercriminal could have gotten bits of information from data breaches and social media to break into an online account.

‘Australians have been targeted by a number of significant data breaches in recent times,’ she shared.

‘If we think about the type of personal information a motivated offender could piece together, fairly quickly they could have a holistic account of a person's identity.’


View attachment 27014
Scammers could piece together a person’s identity through information from data breaches and social media. Credit: Towfiqu barbhuiya/Unsplash


Prof Cross pointed out that this hair-raising incident brings to light some pressing issues that need immediate attention, such as the ability for cybercriminals to open multiple online accounts without detecting the true identity of the account holder and how phone porting can turn off the effectiveness of two-factor authentication.

The incident has also emphasised the need for some significant changes. Consumer Action Law Centre's chief executive, Stephanie Tonkin, has highlighted the need to impose tighter bank regulations. They should be compelled to detect and effectively respond to identity thefts and the frauds and scams that inevitably follow.

She mentions that laws passed in the UK require banks to reimburse scam victims' money. The country’s largest banks are also set for a parliamentary inquiry on what they could be doing more for Aussies who’ve been victimised by scammers.

‘Given the incredible sophistication and proliferation of scams and fraud in Australia, we can't expect individuals to protect themselves–there's no indication of what went wrong,’ Tonkin pointed out.

‘Banks are the only ones in the position to detect and protect customers from scams and fraud.’

John and Julie’s saddening case also exposes another regulatory loophone: it is unknown which agency would have oversight over identity theft cases stemming from data breaches.

According to Minister for Finance Katy Gallagher and Minister for Cyber Security Clare O'Neil, the federal government’s National Strategy for Identity Resilience–announced in late June–can help address this problem.

Their press release said, ‘The initiatives within the strategy will help to address gaps and long-standing barriers to achieving identity resilience nationally, including improved responses to large data breaches.’

The Australian Competition and Consumer Commission (ACCC) earlier defined a scam as 'when someone deceives you into providing personal or financial information so they can steal from you'. However, with the increasing cases of identity theft, the definition may soon need to include scams that have grown from data breaches.


Key Takeaways

  • A Melbourne-based couple named John and Julie fell victim to a sophisticated identity theft scheme, losing $370,000 to fraudsters.
  • The couple discovered fraudulent activities in their bank accounts while overseas. Despite notifying their banks, credit card providers, and telcos, the fraudsters managed to drain their accounts and sell off their shares.
  • They said the customer service they received from their banks was disappointing, making them feel like criminals. Efforts to rectify the situation were very stressful and frustrating, which affected their mental health.
  • Cassandra Cross, a Queensland University of Technology Associate Professor, believes the cybercriminals could have gotten bits of information from data breaches and social media to break into an online account.
  • Consumer Action Law Centre Chief Executive Stephanie Tonkin advocates for regulations compelling banks to better detect and respond to identity theft resulting from fraud and scams.

At the SDC, our sympathy goes out to John and Julie, who endured this unnerving experience. And we hope this tale raises awareness about the potential dangers lurking behind seemingly harmless smartphone screens. Stay safe, folks, and be careful where you click!

What do you think of this story, dear members? Share your thoughts in the comments below!
we are all / should be aware of scammers how many people actually watch YouTube channels and such about scams and scammers And educate your self so you know the signs what to look for how to identify scammers scammers are nearly always Indian /Asian so simply accent is a red flag not always but certainly far more common have you seen these call centres ,YouTube have several programmes like scammer pay back for one yes they are American but scammers don’t care where you are or who you are it is very educational and makes you alert No use waiting for governments to help help yourself.
So how many people are aware of the scamming programmes who go after the scam companies and scammers to show the brazen tactics they use like representing. Telcos,banks, and there favourite it companies even Amazon the list is endless Educate yourself and families there is a lot of resource out there it is truly shocking wake up call we all need
 
Picture this: Your bags are packed, your tickets booked, and you're just about to set off on a long-awaited family holiday when a phone call from your bank shatters your peace.

The beginning of an overseas adventure suddenly became a real-life horror story for John and Julie from Melbourne. Their devastating experience illuminates the alarming increase in identity theft cases in Australia.


As they were getting ready for their next great adventure in May, Bankfirst called the pairabout suspicious activity in one of their accounts. They then noticed that his phone was on ‘SOS’ mode.

It turned out they were experiencing a phenomenon known as 'porting', meaning someone had gained control of John's mobile number and transferred it to another device.

The couple reacted promptly. They contacted their banks, credit card providers, and telco–which included the names of Westpac, ANZ, Macquarie, Qantas Travel Money, and Woolworths Mobile to inform them of the situation. Confident that they had safeguarded themselves, they departed for their overseas trip the following day.

Yet, little did they know, the horror had only just begun. While abroad, they noticed some money had been missing from their accounts.


They eventually got ahold of the banks, who instructed them to go to a branch to confirm their identity. This was not possible, of course, as they were overseas. Due to this, they could not access their accounts, and they were not aware of the extent of their financial loss.

The couple continued their holiday after reassurances from their family. ‘We probably would have come home if we weren't meeting our family–it was a trip we had planned for years to meet all their kids and their partners,’ Julie said.

Upon their return home in early July, they were confronted with the stark reality that fraudsters had stolen a staggering $370,000 from their accounts, sold shares worth $45,000, and created a whopping 20 credit and debit accounts under their names.


View attachment 27013
The scammers opened 20 credit and debit cards under John and Julie’s names. Credit: Pixabay/Pexels


The crafty scammers didn't just stop there. The fraudsters had ported the couple's phones and accessed John's email account, messaging friends, family, and work clients to lure others into their web of deception.

Turning to their banks, they were met with apprehension in place of assistance.'They made us feel like we were the criminals,' remarked John.

‘It was a nightmare,’ Julie said. ‘You couldn't get through to anybody, we were on hold for hours on end.’

As of writing, Bankfirst and Commonwealth Bank have returned the couple’s money. Some banks like Macquarie Bank and CMC Markets have also agreed to reimburse the lost funds. Other banks, however, are still investigating the incident.

This unsettling experience reveals how the system can fail those who are the victims of such heinous acts. Their mental health took a severe dip.

As Julie summarised, 'I've never in my life had anxiety, but ever since, I feel like I've been living in this hyper-vigilant state. You just think there's no hope of getting out of this.’

Although the semi-retired couple, who wished to keep their surname private, were aware they had been part of the Medibank and Latitude data breaches, they remained unsure how the perpetrators got their licence and passport details.


Cassandra Cross, a Queensland University of Technology Associate Professor, said that the cybercriminal could have gotten bits of information from data breaches and social media to break into an online account.

‘Australians have been targeted by a number of significant data breaches in recent times,’ she shared.

‘If we think about the type of personal information a motivated offender could piece together, fairly quickly they could have a holistic account of a person's identity.’


View attachment 27014
Scammers could piece together a person’s identity through information from data breaches and social media. Credit: Towfiqu barbhuiya/Unsplash


Prof Cross pointed out that this hair-raising incident brings to light some pressing issues that need immediate attention, such as the ability for cybercriminals to open multiple online accounts without detecting the true identity of the account holder and how phone porting can turn off the effectiveness of two-factor authentication.

The incident has also emphasised the need for some significant changes. Consumer Action Law Centre's chief executive, Stephanie Tonkin, has highlighted the need to impose tighter bank regulations. They should be compelled to detect and effectively respond to identity thefts and the frauds and scams that inevitably follow.

She mentions that laws passed in the UK require banks to reimburse scam victims' money. The country’s largest banks are also set for a parliamentary inquiry on what they could be doing more for Aussies who’ve been victimised by scammers.

‘Given the incredible sophistication and proliferation of scams and fraud in Australia, we can't expect individuals to protect themselves–there's no indication of what went wrong,’ Tonkin pointed out.

‘Banks are the only ones in the position to detect and protect customers from scams and fraud.’

John and Julie’s saddening case also exposes another regulatory loophone: it is unknown which agency would have oversight over identity theft cases stemming from data breaches.

According to Minister for Finance Katy Gallagher and Minister for Cyber Security Clare O'Neil, the federal government’s National Strategy for Identity Resilience–announced in late June–can help address this problem.

Their press release said, ‘The initiatives within the strategy will help to address gaps and long-standing barriers to achieving identity resilience nationally, including improved responses to large data breaches.’

The Australian Competition and Consumer Commission (ACCC) earlier defined a scam as 'when someone deceives you into providing personal or financial information so they can steal from you'. However, with the increasing cases of identity theft, the definition may soon need to include scams that have grown from data breaches.


Key Takeaways

  • A Melbourne-based couple named John and Julie fell victim to a sophisticated identity theft scheme, losing $370,000 to fraudsters.
  • The couple discovered fraudulent activities in their bank accounts while overseas. Despite notifying their banks, credit card providers, and telcos, the fraudsters managed to drain their accounts and sell off their shares.
  • They said the customer service they received from their banks was disappointing, making them feel like criminals. Efforts to rectify the situation were very stressful and frustrating, which affected their mental health.
  • Cassandra Cross, a Queensland University of Technology Associate Professor, believes the cybercriminals could have gotten bits of information from data breaches and social media to break into an online account.
  • Consumer Action Law Centre Chief Executive Stephanie Tonkin advocates for regulations compelling banks to better detect and respond to identity theft resulting from fraud and scams.

At the SDC, our sympathy goes out to John and Julie, who endured this unnerving experience. And we hope this tale raises awareness about the potential dangers lurking behind seemingly harmless smartphone screens. Stay safe, folks, and be careful where you click!

What do you think of this story, dear members? Share your thoughts in the comments below!
I don't mean to be unsympathetic, but are these people that are scammed live with their head in the sand? So much is being said, day in day out, about scammers and still someone gets duped.
Cannot understand why they believe someone on the phone, or pay attention to an email or text message. It's beyond me!!!
 
we are all / should be aware of scammers how many people actually watch YouTube channels and such about scams and scammers And educate your self so you know the signs what to look for how to identify scammers scammers are nearly always Indian /Asian so simply accent is a red flag not always but certainly far more common have you seen these call centres ,YouTube have several programmes like scammer pay back for one yes they are American but scammers don’t care where you are or who you are it is very educational and makes you alert No use waiting for governments to help help yourself.
So how many people are aware of the scamming programmes who go after the scam companies and scammers to show the brazen tactics they use like representing. Telcos,banks, and there favourite it companies even Amazon the list is endless Educate yourself and families there is a lot of resource out there it is truly shocking wake up call we all need
Had trouble reading and understanding this post which doesn’t have commas and full stops in the appropriate places. I’m still struggling to understand where they should be so I can understand the post.
 
Picture this: Your bags are packed, your tickets booked, and you're just about to set off on a long-awaited family holiday when a phone call from your bank shatters your peace.

The beginning of an overseas adventure suddenly became a real-life horror story for John and Julie from Melbourne. Their devastating experience illuminates the alarming increase in identity theft cases in Australia.


As they were getting ready for their next great adventure in May, Bankfirst called the pairabout suspicious activity in one of their accounts. They then noticed that his phone was on ‘SOS’ mode.

It turned out they were experiencing a phenomenon known as 'porting', meaning someone had gained control of John's mobile number and transferred it to another device.

The couple reacted promptly. They contacted their banks, credit card providers, and telco–which included the names of Westpac, ANZ, Macquarie, Qantas Travel Money, and Woolworths Mobile to inform them of the situation. Confident that they had safeguarded themselves, they departed for their overseas trip the following day.

Yet, little did they know, the horror had only just begun. While abroad, they noticed some money had been missing from their accounts.


They eventually got ahold of the banks, who instructed them to go to a branch to confirm their identity. This was not possible, of course, as they were overseas. Due to this, they could not access their accounts, and they were not aware of the extent of their financial loss.

The couple continued their holiday after reassurances from their family. ‘We probably would have come home if we weren't meeting our family–it was a trip we had planned for years to meet all their kids and their partners,’ Julie said.

Upon their return home in early July, they were confronted with the stark reality that fraudsters had stolen a staggering $370,000 from their accounts, sold shares worth $45,000, and created a whopping 20 credit and debit accounts under their names.


View attachment 27013
The scammers opened 20 credit and debit cards under John and Julie’s names. Credit: Pixabay/Pexels


The crafty scammers didn't just stop there. The fraudsters had ported the couple's phones and accessed John's email account, messaging friends, family, and work clients to lure others into their web of deception.

Turning to their banks, they were met with apprehension in place of assistance.'They made us feel like we were the criminals,' remarked John.

‘It was a nightmare,’ Julie said. ‘You couldn't get through to anybody, we were on hold for hours on end.’

As of writing, Bankfirst and Commonwealth Bank have returned the couple’s money. Some banks like Macquarie Bank and CMC Markets have also agreed to reimburse the lost funds. Other banks, however, are still investigating the incident.

This unsettling experience reveals how the system can fail those who are the victims of such heinous acts. Their mental health took a severe dip.

As Julie summarised, 'I've never in my life had anxiety, but ever since, I feel like I've been living in this hyper-vigilant state. You just think there's no hope of getting out of this.’

Although the semi-retired couple, who wished to keep their surname private, were aware they had been part of the Medibank and Latitude data breaches, they remained unsure how the perpetrators got their licence and passport details.


Cassandra Cross, a Queensland University of Technology Associate Professor, said that the cybercriminal could have gotten bits of information from data breaches and social media to break into an online account.

‘Australians have been targeted by a number of significant data breaches in recent times,’ she shared.

‘If we think about the type of personal information a motivated offender could piece together, fairly quickly they could have a holistic account of a person's identity.’


View attachment 27014
Scammers could piece together a person’s identity through information from data breaches and social media. Credit: Towfiqu barbhuiya/Unsplash


Prof Cross pointed out that this hair-raising incident brings to light some pressing issues that need immediate attention, such as the ability for cybercriminals to open multiple online accounts without detecting the true identity of the account holder and how phone porting can turn off the effectiveness of two-factor authentication.

The incident has also emphasised the need for some significant changes. Consumer Action Law Centre's chief executive, Stephanie Tonkin, has highlighted the need to impose tighter bank regulations. They should be compelled to detect and effectively respond to identity thefts and the frauds and scams that inevitably follow.

She mentions that laws passed in the UK require banks to reimburse scam victims' money. The country’s largest banks are also set for a parliamentary inquiry on what they could be doing more for Aussies who’ve been victimised by scammers.

‘Given the incredible sophistication and proliferation of scams and fraud in Australia, we can't expect individuals to protect themselves–there's no indication of what went wrong,’ Tonkin pointed out.

‘Banks are the only ones in the position to detect and protect customers from scams and fraud.’

John and Julie’s saddening case also exposes another regulatory loophone: it is unknown which agency would have oversight over identity theft cases stemming from data breaches.

According to Minister for Finance Katy Gallagher and Minister for Cyber Security Clare O'Neil, the federal government’s National Strategy for Identity Resilience–announced in late June–can help address this problem.

Their press release said, ‘The initiatives within the strategy will help to address gaps and long-standing barriers to achieving identity resilience nationally, including improved responses to large data breaches.’

The Australian Competition and Consumer Commission (ACCC) earlier defined a scam as 'when someone deceives you into providing personal or financial information so they can steal from you'. However, with the increasing cases of identity theft, the definition may soon need to include scams that have grown from data breaches.


Key Takeaways

  • A Melbourne-based couple named John and Julie fell victim to a sophisticated identity theft scheme, losing $370,000 to fraudsters.
  • The couple discovered fraudulent activities in their bank accounts while overseas. Despite notifying their banks, credit card providers, and telcos, the fraudsters managed to drain their accounts and sell off their shares.
  • They said the customer service they received from their banks was disappointing, making them feel like criminals. Efforts to rectify the situation were very stressful and frustrating, which affected their mental health.
  • Cassandra Cross, a Queensland University of Technology Associate Professor, believes the cybercriminals could have gotten bits of information from data breaches and social media to break into an online account.
  • Consumer Action Law Centre Chief Executive Stephanie Tonkin advocates for regulations compelling banks to better detect and respond to identity theft resulting from fraud and scams.

At the SDC, our sympathy goes out to John and Julie, who endured this unnerving experience. And we hope this tale raises awareness about the potential dangers lurking behind seemingly harmless smartphone screens. Stay safe, folks, and be careful where you click!

What do you think of this story, dear members? Share your thoughts in the comments below!
Easily fixed if banks with hold payments in access of $1000 for 5 business days. Giving the bank time to stop the payment or recover the money.
 
The share sell off doesn't happen instantaneously, so once they notice this they could have stopped settlement on same day. Problem I find when travelling overseas, the messages from bank goes to your Aust phone no. Not too many use international roaming due to the exorbitant cost of doing so, as such the messages don't get seen in a timely manner.
 
we are all / should be aware of scammers how many people actually watch YouTube channels and such about scams and scammers And educate your self so you know the signs what to look for how to identify scammers scammers are nearly always Indian /Asian so simply accent is a red flag not always but certainly far more common have you seen these call centres ,YouTube have several programmes like scammer pay back for one yes they are American but scammers don’t care where you are or who you are it is very educational and makes you alert No use waiting for governments to help help yourself.
So how many people are aware of the scamming programmes who go after the scam companies and scammers to show the brazen tactics they use like representing. Telcos,banks, and there favourite it companies even Amazon the list is endless Educate yourself and families there is a lot of resource out there it is truly shocking wake up call we all need
takes a bit, but this comment is all over the place. Maybe some punctuations would help get the message across with more clarrity.
 
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Reactions: Rhondda@Benji
Easily fixed if banks with hold payments in access of $1000 for 5 business days. Giving the bank time to stop the payment or recover the money.
My bank won't release any money over $5000 if I do the transaction on the app or online, doesn't matter if I ask them to release, it just sits pending confirmation of the recipient account, ie, not just set up with no other transactions etc. They ALWAYS tell me I need to go into a bank to do large transfers (for my own financial safety) they still state I need to be confident the account is correct as it can't be recovered.
 
I’ve been following this story on ABC radio these last two mornings. The people are adamant that they haven’t clicked on any links. They say they are vigilant about not doing so. It could be linked to one of the recent big data breaches. The biggest issues are that when they contacted their banks they were left on hold for for up to three hours and twenty minutes! They couldn’t make contact over the weekend as the banks’ fraud departments were closed. And the banks wouldn’t accept that they were who they said they were. Some of the financial organisations haven’t even acknowledged their complaints. One of the banks has finally agreed to refund the money they lost through their negligence.
 
The bit that concerns me most is this: 'someone had gained control of John's mobile number'.

How does someone gain control of a phone number? How do they know what your pass code (to open the phone) is? How do they then know what your bank access codes are?
 
I don't mean to be unsympathetic, but are these people that are scammed live with their head in the sand? So much is being said, day in day out, about scammers and still someone gets duped.
Cannot understand why they believe someone on the phone, or pay attention to an email or text message. It's beyond me!!!
i DONT KNOW WHY THE BANKS AND OTHER SAVINGS PLACES DONT RING PEOPLE TO VERIFY THE WITHDRAWAL BUT BEFORE TALKING TO THEM ASK FOR THE password OR SOME OTHER FORM OF IDENTIFICATION JUST TI VERIFY THE TRANSACTION , IT WOULD BE BETTER THAN DOING NOTHING TO THE HOLDER OF THE ACCOUNT .
 
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Reactions: Gsr
i DONT KNOW WHY THE BANKS AND OTHER SAVINGS PLACES DONT RING PEOPLE TO VERIFY THE WITHDRAWAL BUT BEFORE TALKING TO THEM ASK FOR THE password OR SOME OTHER FORM OF IDENTIFICATION JUST TI VERIFY THE TRANSACTION , IT WOULD BE BETTER THAN DOING NOTHING TO THE HOLDER OF THE ACCOUNT .
No need to SHOUT!
 
The bit that concerns me most is this: 'someone had gained control of John's mobile number'.

How does someone gain control of a phone number? How do they know what your pass code (to open the phone) is? How do they then know what your bank access codes are?
Actually, it would not be that hard. Given the scammers had obviously obtained other personal information it would take about a minute to transfer the phone number to a new phone/sim card.

I once had my phone stolen and had to get a new phone and SIM card. I walked into a phone shop and asked for a new sim card and simply transferred the old phone number to the new card.

Also, there is the scam of Call spoofing where a phone scammer will falsify the calling number to trick a user into picking up or making a call look more legitimate. In this case, the scammers could call one of the financial institutions making it look like the true owner was calling, then using the previously obtained information, make whatever changes they wanted. For the scammers none of this is difficult.
 
  • Sad
Reactions: hinda
What I don’t get is why weren’t this couple checking their accounts while they were overseas? Most people can access their accounts online even if they don’t do online banking. Did the husband not think to advise the banks he had a new phone number before he went overseas, or did he keep his old number, didn’t he notice he wasn’t getting any calls on his phone before he left if someone else stole his number and was getting all his calls. So many people get caught because they don’t heed the red flags that jump out at them.
 
What I don’t get is why weren’t this couple checking their accounts while they were overseas? Most people can access their accounts online even if they don’t do online banking. Did the husband not think to advise the banks he had a new phone number before he went overseas, or did he keep his old number, didn’t he notice he wasn’t getting any calls on his phone before he left if someone else stole his number and was getting all his calls. So many people get caught because they don’t heed the red flags that jump out at them.
Not everyone uses their Australian mobile number when they are overseas because the charges are so high. I do agree though that the person could have been checking their bank accounts through internet banking. But I suspect that because they thought they have notified the bank about what had happened before they left they assumed the bank would be stopping any transactions on their accounts. We know the banks actually don't/won't do that don't we?
 
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