Westpac warns of ‘penalty scam’ targeting Chinese bank customers | #phishing | #scams


Westpac is warning New Zealanders to look out for a so-called “penalty scam” primarily targeting Chinese customers.

Westpac NZ head of financial crime Mark Coxhead​ said there had been an increase in threat and penalty scams, in which customers are pressured into handing over money by people posing as authority figures.

“Scammers are contacting people and claiming to be from the police, another government agency, or a business, and threatening to take severe action or fine them unless they make payments or give out personal information,” he said.

“There have been recent reports of scammers making contact via video call, posing as police officers in China and accusing the recipient of a crime.

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“They threaten them with harm, arrest or legal action if they do not make payments to an overseas account.”

Westpac has reported an increase in threat or penalty scams.

Stacy Squires/Stuff

Westpac has reported an increase in threat or penalty scams.

Coxhead said customers who thought they had been the target of a scam should contact their bank immediately.

“Fraudsters and scammers are getting increasingly sophisticated in how they operate, and we’re working around the clock to keep our customers safe.

“But customers can help us and themselves by staying vigilant and reporting anything that doesn’t seem right.”

Signs of a threat or penalty scam include:

  • Threatening calls, messages or emails – Police will never contact you in a video call or phone call and ask you to send money;

  • Threats that you will face legal action or that your online history or photos will be exposed;

  • A sense of urgency to make a payment or provide information;

  • Being asked to lie or withhold information from your bank;

  • Contact that is unusual, unsolicited or out of the blue;

  • Unusual payment methods like cryptocurrency, gift cards or overseas payments.

Customers who think they may have been targeted should:

  • Hang up immediately;

  • Don’t feel pressured to comply with a request urgently. Any genuine business or government agency will give you time to pay outstanding invoices, bills or fees;

  • If you get an urgent request to make a payment, contact the organisation using the contact details on their official website to confirm whether the request is genuine;

  • Never share your online banking passwords;

  • Always be honest about what happened with your bank so that they can assist you and help keep your money safe.



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