Net scams target banks By Tanya Moore 03apr03
SCAM artists have begun targeting Internet banking systems for the first time in Australia.
Federal police have received several complaints from banks about Internet fraud in recent months.
An Australian Federal Police spokesman would not say how many complaints had been received but confirmed it was the first time the organisation had investigated Internet banking scams.
Some Commonwealth Bank customers were conned into sending passwords and membership numbers to an e-mail address after they received an e-mail from commonwealthbank.com, which had a genuine-looking NetBank logo.
The e-mail said: "Our new security system will help you to frequently avoid fraud transactions and to keep your investments in safety."
Fraudsters also attempted to replicate Internet sites for Westpac Bank and AMP.
Australian Consumers' Association spokeswoman Catherine Wolthuizen said the e-mail sent to Commonwealth Bank customers was particularly worrying. "It went out looking like an official e-mail," she said.
Internet consumers faced unique risks because they were offered quick access to information from around the world.
"But it also offers these advantages to scam artists," Ms Wolthuizen said.
Australian Bankers' Association chief executive officer David Bell said the association had tried to keep a step ahead of fraudsters.
"Fraud is a problem. It is a problem that is right across the board," Mr Bell said.
"It's certainly something that worries us.
"Anybody who has their business on the Net is particularly vulnerable."
He said the Commonwealth Bank e-mail scam vindicated the association's decision to form a fraud taskforce comprising police, banking and finance industry representatives.
About 5 per cent of bank transactions are conducted on the Internet and 90 per cent of consumers bank electronically.
Mr Bell said bank customers who revealed a PIN number or password to others could be held accountable if it led to financial losses.
"If a customer attributes this to a fraud you may not be able to get your money back," he said.
Commonwealth Bank customers duped by the e-mail scheme did get their money back.
A bank spokesman said scam investigators had arrested a Russian man.
The 25-year-old will appear in a Sydney court this month charged with obtaining money by deception.
The spokesman said the NetBank site, which is used by about one million customers, had not been compromised.
Ms Wolthuizen warned consumers to be alert if they received e-mail messages claiming to be from a bank.
"Whenever they get this sort of communication (they need) to be very sceptical and to contact their bank if they have any doubt," she said.
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