Beware of scams impersonating ASIC and MoneySmart

[box border=”full”]Consumers are again being urged to be wary of cold callers claiming to represent ASIC and MoneySmart.[/box]

These offshore cold callers claim that your credit union, building society or bank have overcharged you and ask for your personal bank details.

These calls are a scam, and ASIC warns anyone who is contacted to hang up.

If you think you have been a victim of this scam or believe your account may have been compromised, you should contact your credit union, building society or bank immediately.

Senior Leader, Stakeholder Services Warren Day said, ‘We suspect this is a follow-up scam intended to trick you into providing your personal details. We ask the public to be cautious of calls like these. If you receive an unexpected call from someone in these circumstances, no matter who they claim to be, the best protection is to simply hang up.’

Protect yourself

  • If you receive a phone call or email out of the blue requesting your personal or banking information, hang up or delete the email and block the sender.
  • Never send money or give your financial details to someone you don’t trust or know.
  • If the caller or sender claims to be from a government agency or financial institution, remember that government departments and financial institutions would never ask you for your personal details via cold calls, email or text message.
  • If you’ve provided your bank account or credit card details to a scammer, contact your bank or financial institution immediately.

Report scams

You can report scams via the report a scam page on SCAMwatch or by calling ASIC on 1300 300 630.

More information

Visit ASIC’s MoneySmart website for tips on how to avoid being scammed.

The Australian Government website ( is a safe portal for finding government services.