Identity Theft Warning: Banking phone scammers currently on the prowl in Australia are attempting to not only pilfer easy profits from unsuspecting victims via wire transfer, but it looks like they’re also after crucial identity information which could lead to identity fraud. We look at this scam, and what you should do if you think you’re a victim.

By Graham Doessel, Founder and CEO of MyCRA Credit Rating Repairs and Visit our Facebook page!/

Last week Australian Broker online reported on this alarming banking scam ‘Banker phone scam bamboozles customers’ which involves the Australian Bankers Association (ABA). The report says twenty five people had contacted the ABA in the three days prior to report a telephone scam – and at least two had fallen victim to the scam which involved fraudsters calling customers supposedly on behalf of the organisation offering instructions on how to obtain a ‘refund’ for overcharged fees.

“They then ask the customer to go to a post office to receive a so-called ‘refund’ – ranging from $5 000 – $7 000. Instructions are given to call the criminals on arrival at a post office, where they try to talk the customer into sending money, via the post or Western Union, claiming it’s a fee for the so-called ‘refund service’.”

And alarmingly:

“In several cases, customers have been asked to reveal additional information, including whom they bank with, how long they have been a customer of said bank, what their credit card number is and what their driver’s licence number is,” The Australian Broker report says.

Steven Münchenberg, ABA chief executive, said in a release to the media, that most customers contacting ABA after receiving the phone calls have been suspicious and have not provided any money or information to the con artists.

“However, members of my staff did speak to two customers who had sent

[money] to the criminals – around $300 via Western Union. Unfortunately, there is no hope of retrieving that money and it is lost to fraud,” he says.

“These criminals are preying on people and we are urging anyone who receives a call with a promise of easy money to hang up.”

What could fraudsters do with the additional information they are asking for?

What fraudsters are doing, is attempting to gather extra information from their victim over and above what they might already have in front of them.

If they have a person’s full name plus who they bank with, and what their driver’s licence number is they have the basic building blocks for an identity theft attempt. They can call the bank and have some kind of identity information on which to proceed with accessing bank accounts AND accessing further credit in the victim’s name.

What should you do if you suspect too late you’ve fallen for a scam?

If you have just found out you are a victim, we recommend you contact the Police – as well as your bank – especially if you have given over personal information to fraudsters. Don’t be embarrassed – it is only through identity theft being reported that data gets collected and appropriate preventative measures eventually get put in place.

Telling your bank also means they can flag your accounts and upgrade security on your account/s.

You should also contact the credit reporting agencies that hold your credit file and inform them that you may be at risk of identity theft.

At this time, you should also order a copy of your credit report. If there are any inconsistencies on your credit report – change of address, strange credit enquiries and instances of credit you don’t believe you’ve accessed yourself, then you may already be a victim – and should do all that’s possible to follow up on each account so as not to accrue defaults on your credit file that should not be there.

Credit file defaults are difficult for the individual to remove and generally people are told by creditors they remain on our file for 5 years, regardless of how they got there. Any negative listing will prevent you from obtaining credit, so it is vitally important that your credit file is clear.

Although it seemed so easy for the fraudster to use your good name in the first place, you are now faced with proving the case of identity theft with copious amounts of documentary evidence.

If you have neither the time nor the knowledge of our credit reporting system that you may need to fight your case yourself, you can seek the help of a credit repairer. A credit repairer can help you to clear your credit file and restore the financial freedom you rightly deserve.

The reason a credit repairer is usually so successful in removing your credit file defaults, is their relationships with creditors, and their knowledge of current legislation.

Visit for more information on identity theft or how to repair bad credit.

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