NSW Fair Trading issues bank refund scam warning

Callers claim to be from Fair Trading head office

Scammers are calling residents in New South Wales claiming to be from NSW Fair Trading and offering refunds on bank fees.

NSW Fair Trading Commissioner Rod Stowe said it had received several reports of scam calls to consumers in Laurieton, Valla and Port Macquarie this week.

“Others have reported calls from someone claiming to be from the federal government. The promises of bank refunds have ranged from $5000 to $9000,” he said in a statement.

“Scammers tell consumers they have obtained funds owing to them from a bank and that in order to receive the money, people need to deposit money for administrative purposes,” he said.

One senior citizen did provide her account details to scammers but after contacting Fair Trading, cancelled the credit card.

According to Stowe, scammers often know a number of the consumer’s personal details such as their date of birth, address or bank account details.

He warned that if the caller asks the consumer to deposit money into a Western Union account via uKash or wants bank account details, this is a sure sign of a scammer.

“No government agency cold calls people offering money,” said Stowe.

NSW Fair Trading provided the following tips for consumers:

  • Never give out personal or financial details over the phone
  • If in doubt, check the legitimacy of any calls or emails
  • Always look up phone numbers in an independent directory.

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