As New Zealand banks prepare to roll out the Confirmation of Payee service, customers should be wary of fraudsters pretending to be calling from banks.
What to watch out for:
Fraudsters may pose as bank employees, tricking victims into sharing bank information or changing account details.
What you need to know:
- Banks may reach out to update account details, but they will never ask you to make these changes over the phone or by email.
- Banks will never ask for your passwords: Legitimate banks will never ask for your online banking password or any codes sent to your phone. If anyone asks for this information, hang up and report it.
- The Confirmation of Payee service does not require you to take action: The service will be integrated automatically into the online banking process. You don’t need to change any settings or provide any personal information for it to work.
What to do if you’re contacted by a “bank”
If you receive a suspicious call, email, or text claiming to be from your bank, take the following steps:
- Do not engage or provide any information. Hang up or delete the message immediately.
- Contact your bank directly using the phone number listed on their official website.
- Report the incident to your bank and relevant authorities, such as CERT NZ, if you believe you’ve been targeted by scammers.
Protect yourself from scams
- It’s important to remain vigilant against fraudsters who may try to take advantage of the rollout.
- Keep your account secure by being cautious of any unsolicited requests for personal information and remember that your bank will never ask for sensitive information like passwords.
- Stay informed and protect yourself as we all look forward to a safer, more secure payment system.
