One lucky BOQ Noosa customer had his cash saved from scammers last month when bank staff raised alarm bells of a potential dodgy deal.
Last month, a BOQ Noosa customer named Raymond visited the branch with an invoice to transfer over $19,900 to another bank to purchase “Bonds”.
After receiving email and phone contact from the beneficiary, the customer believed this to be entirely legitimate.
When reviewing the transfer order form at the branch, the customer was asked “are you confident this is not a scam” to which he answered ‘yes’.
As he was about to leave the branch, the customer had second thoughts around the potential of a scam and approached customer service manager Cheryl Lacey to discuss further.
Investment scams try to convince you to invest in schemes and companies, which turn out to be fake. These investments offer opportunities with high returns, low risk and get rich quick incentives.
BOQ Noosa branch manager Clair Bugler said, “Across the industry, we’re seeing scammers becoming increasingly sophisticated in their attempts to target all consumer types. This is making it more and more difficult to identify a scam, as these attempts may appear to be completely legitimate.
“This was seen in this instance of an investment scam, with the invoice sent to the customer appearing genuine.
“What raised alarm bells for us was the amount of money being requested by the beneficiary as well as the customer’s concern,“ she said.
“Our teams didn’t waste any time and shared the document with our Fraud and Scam Operations team who immediately identified it as fraudulent and a scam,” Ms Bugler said.
“Thanks to their swift action, the transfer from the customer was intercepted and the funds were returned to his account that afternoon. The customer was very relieved and grateful, visiting the branch the following day with his wife to show his appreciation.
“For anyone concerned about a potential scam, take action and get to the bottom of it sooner rather than later. Talk to a trusted family member or friend or visit your nearest BOQ bank branch as we are here to help.”
The BOQ Noosa branch warns of the signs of an investment scam:
– False advertisements – including fake celebrity endorsements and testimonies.
– Cold calls from a stockbroker, incentivising your investment.
– Callers offering to assist you with opening your cryptocurrency wallet, often done so by remote access.
– Encouragement to invest, including early withdrawal of superannuation.
– Sense of urgency – claims of a volatile market and possible missed opportunity.
– Promises of a guaranteed return on investment.
BOQ’s top tips for protection from investment scams:
– If the returns sound too good to be true, they probably are.
– Avoid giving untrusted ’brokers’ remote access to your computer or mobile device.
– Seek independent financial advice from an registered financial advisor via moneysmart.gov.au
– Never provide personal information, bank account details or balances to a third party.
The BOQ website (boq.com.au/help-and-support/fraud-and-scams) provides additional information on how to protect yourself as well as the latest alerts on scams currently impacting customers.
