Bank Account Scams

This century has seen an exponential change in the way we do our banking. Sadly, bank account scams have also been on the rise. Bank account scams can pilfer account information and your precious money. However, there are ways of identifying bank account scams.

Types of Bank Account Scams: "Phishing"
Phishing emails are fake emails or electronic messages that pretend to be from banks or financial institutions. They ask for your account details and then use these information to steal your money.
Types of Bank Account Scams: Bogus Phone Calls
A bank account scam can even entail a phone call to ask for you account details verbally.
Types of Bank Account Scams: Card Skimming
Another type of bank account scams is this illegal copying of information from the magnetic strip of a credit or ATM card.
Types of Bank Account Scams: Internet Banking Fraud
Yet another type of bank account scams is using online technology to illegally remove money from or transfer it to a different bank account. Phishing, a similar bank account scam, facilitates Internet banking fraud.
Types of Bank Account Scams: Credit Card Scams
Stealing your credit card details is a bank account scam facilitated either by taking the card itself or tricking one into giving the card's details.

Avoiding Bank Account Scams

Familiarize yourself with the advice provided by the Australian Competition and Consumer Commission (ACCC) to avoid bank account scams. It is also advisable to select an escrow or secure payment service for yourself than accept advice from the seller. Avoid clicking on links to banking or escrow services found in emails to avoid engaging yourself in different types of bank account scams.