Bendigo Bank stops $58 million in potential scam payments

The Bank attributed the scam payments stopped, which equate to $161,000 per day, to its robust scam prevention systems and dedicated teams that safeguard the Bank’s 2.9 million customers, 24/7.

Steven Blackburn, Chief Compliance and Financial Crime Officer at Bendigo Bank, said the bank remains steadfast in its commitment to customer protection.

"Scams and fraud can have a devastating impact. We’ve all heard upsetting stories of customers who have fallen victim to this organised and sometimes sophisticated criminal activity," Mr Blackburn said.

“The Bank takes cyber security very seriously, protecting our customers and safeguarding our systems with a variety of cyber-crime prevention methods, but with national scam losses growing to exceed $2 billion last year, according to ScamWatch, Scams Awareness Week is a timely reminder for everyone to remain vigilant,” he said.

“By working together with our customers, we can even further reduce the incidence of scams and fraud. We encourage all our customers to stop, think and protect themselves before transferring money or sharing personal information."

The Bank provides customers with regular alerts about current scams targeting customers and maintains a webpage with general tips for customers on how to keep their details safe.

The Bank has also launched a face-to-face education program to help our 2.9 million customers safely navigate online banking with more than one thousand Bendigo Bank customers, and members from dozens of different community groups, now better equipped to navigate digital banking and better protect themselves online after attending these sessions.

Bendigo Bank recommends customers follow ScamWatch’s advice:

Stop – Don’t give money or personal information to anyone if unsure.

Think – Ask yourself could the message or call be fake?

Protect – Act quickly if something feels wrong.

Bendigo Bank will never ask for customer details, or request customers transfer money, download software or login via a link sent through email or SMS. If speaking to someone claiming to be from Bendigo Bank and unsure if the caller is legitimate, customers are urged to hang up and contact us directly on 1300 236 344.