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February 2022

Common scams targeting bank customers

Bank had no reason to suspect transferred money was going to scammer

Rosie and her father lost $580,000 in a romance scam. Rosie had power of attorney for her father. Sh…

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February 2022

Transferring credit card debts

Mix-up left former employee with company’s card debt

Robert was approved for a business Mastercard. His employer told him he would be personally liable f…

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February 2022

Common scams targeting bank customers

Bank was slow in recovery efforts but not at fault for scam loss

Geordie lost $30,000 in an investment scam. He authorised the transaction using his internet banking…

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February 2022

Freeing up capital

Bank’s $50,000 error caused customer no financial loss

Jimmy and his former wife signed a relationship property agreement stating they would each be respon…

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November 2021

Joint accounts

Bank had enough reason to lock funds but failed to do so

Rose's husband unexpectedly left her in 2019 after withdrawing large sums of money from their joint …

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November 2021

Cards and PINs

Elderly customer handed over card and PIN to “carer”

Thomas complained to a bank on behalf of Sid about transactions on Sid’s account. Sid was very elder…

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November 2021

Common scams targeting bank customers

Banks under no general obligation to monitor customer’s accounts

Antoinette was the victim to an online investment scam. She sent $150,000, all of her savings, overs…

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November 2021

Common scams targeting bank customers

Bank acted on customer’s instructions to forward money to scammer

Harriet was the victim of a Facebook lottery scam, in which she was led to believe that she had won …

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November 2021

Common scams targeting bank customers

Romance scam victim determined to transfer funds despite bank’s warnings

Vern transferred $60,000 overseas over two months in a romance scam. Then he sent another $11,000 in…

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Case notes

Bank had no reason to suspect transferred money was going to scammer

Mix-up left former employee with company’s card debt

Bank was slow in recovery efforts but not at fault for scam loss

Bank’s $50,000 error caused customer no financial loss

Bank had enough reason to lock funds but failed to do so

Elderly customer handed over card and PIN to “carer”

Banks under no general obligation to monitor customer’s accounts

Bank acted on customer’s instructions to forward money to scammer

Romance scam victim determined to transfer funds despite bank’s warnings