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November 2024

Fraud & scams /

Automated transactions gave no hint of impending scam

In October 2023, Charlie was looking to invest $300,000 in a 12-month term deposit. He contacted num…

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November 2024

Fraud & scams /

Customer acted reasonably despite sharing codes with scammer

Greer received a call from someone who said he was from her bank and had identified some unusual tra…

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November 2024

Mistaken payments /

Bank not liable for $35,000 customer accidentally sent to wrong person

At the time of payment (2022) banks did not have to check that the account name and number matched. …

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November 2024

Closing accounts /

Bank’s closure of customer’s accounts based on flawed assessment of her behaviour

In May 2023, Poppy had trouble opening a term investment because branch and contact centre staff gav…

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November 2024

Fraud & scams /

Elderly scam victim’s string of payments should have aroused bank’s suspicions

In 2021, Alice, an 84-year-old pensioner, received a Facebook message from a friend of a friend reco…

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November 2024

Fraud & scams /

Customer justified in disclosing code to what she believed was bank employee

In February 2024, Eden received a call from someone purporting to be from her bank. The caller’s num…

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November 2024

Fraud & scams /

Bank reimburses half of scam loss despite doubts about how scammer obtained codes

In January 2024, Hunter received a call on his mobile from an unknown number. The caller said she wa…

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November 2024

Fraud & scams /

Cryptocurrency transactions had every appearance of legitimate purchases

In July 2023, Sienna responded to a Facebook post offering earning extra income by working remotely.…

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November 2024

Overdrafts /

Bank acted correctly over lapsed trust loan

Hassan’s family trust, of which he was a trustee, took out a $300,000 10-year, interest-only loan wi…

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Case notes

Automated transactions gave no hint of impending scam

Customer acted reasonably despite sharing codes with scammer

Bank not liable for $35,000 customer accidentally sent to wrong person

Bank’s closure of customer’s accounts based on flawed assessment of her behaviour

Elderly scam victim’s string of payments should have aroused bank’s suspicions

Customer justified in disclosing code to what she believed was bank employee

Bank reimburses half of scam loss despite doubts about how scammer obtained codes

Cryptocurrency transactions had every appearance of legitimate purchases

Bank acted correctly over lapsed trust loan