Bank fee scam targeting small businesses

By on
Bank fee scam targeting small businesses

If you're contacted by someone claiming to be from the Australian Treasury who says you're owed overpaid bank fees, it's likely a scam.

Scammers claiming to be from the Australian Treasury - the Treasury Reclamations Section may be specifically mentioned - are contacting small businesses and saying they can recover overpaid bank fees.

The catch is that they request a processing fee.

The Australian Competition and Consumer Commission's SCAMwach operation is warning about the scam.

Similar scams have been run in the past by people pretending to be from or working with other Commonwealth or State agencies (such as the Australian Taxation office or NSW Fair Trading), banks, or law firms.

The usual advice applies: be sceptical, delete the email or hang up on the phone call, and never send money or your account details to anyone that you don't trust.

If you suspect you have already provided those details to a scammer, contact your financial institution immediately.

If you think an approach might be genuine, you shouldn't respond directly. Instead, use the phone book or other reliable resources to get the organisation's real contact details, as scammers will give you their own phone numbers, which will likely be answered in a very professional manner.

You'll find more tips for avoiding scams at the Commonwealth Government's site.

Copyright © BIT (Business IT). All rights reserved.

Most Read Articles


What would you like to see more of on BiT?
How To's
Photo Galleries
View poll archive

Log In

  |  Forgot your password?