Bank Australia has issued alerts warning customers about an increase in phone porting scams targeting their account holders. These scams, which involve fraudsters transferring a victim’s phone number to a new SIM card without authorization, have become increasingly sophisticated as Australia’s banking sector moves toward stronger digital authentication methods. The bank is advising customers to exercise caution and to contact them directly through official channels if they have any concerns about suspicious activity.
The warning comes as digital fraud threats continue to evolve in Australia, where major institutions like Telstra and the Commonwealth Bank have recently partnered to strengthen fraud detection capabilities. Bank Australia has specifically highlighted the emergence of fraudulent comparison websites that claim to compare interest rates, home loans, and car loans. The institution emphasizes that it maintains no affiliations with websites requesting remote computer access.
In related developments, cybersecurity experts have identified a new variant of the Android malware known as FakeCall, which intercepts outgoing calls and redirects them to attackers’ phone numbers. The malware uses voice phishing techniques to extract sensitive information from victims, representing part of a broader trend that has led major technology companies like Google to move away from SMS-based authentication toward more secure verification methods.
Multiple fraud schemes are currently active across Australian digital channels, as the country develops a comprehensive digital identity framework. Social media platforms have become a vector for scammers who either create fraudulent profiles or compromise existing accounts. In the e-commerce sector, criminals are operating counterfeit websites that mimic established brands, offering products at suspiciously low prices and using fake reviews to enhance legitimacy.
Another active scheme involves scammers impersonating representatives from banks or IT companies, requesting PIN numbers and instructing victims to leave their bank cards in letterboxes for supposed cancellation. The rise in fraud has prompted Australian banks to accelerate the adoption of enhanced security measures, including numberless payment cards and biometric authentication systems.
Sources: Bank Australia, Security Affairs, Cyber Watch, Parliament of Victoria, Daily Telegraph
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