Bendigo Bank protects the privacy of its customers and does not comment on specific matters.
Bendigo Bank takes cyber security very seriously, protecting our customers and safeguarding our systems with a variety of cyber-crime prevention methods. By working together with our customers, we can even further reduce the incidence of scams and fraud. It is important customers take steps to protect themselves and do not share their passwords or allow someone they don't know or trust to log in to their computer remotely, as it is extremely difficult to recover money that has been transferred to scammers.
Bendigo Bank attempts to recover funds lost to scams wherever possible and it goes without saying when the bank is at fault, we will reimburse customers for the loss of funds.
Each instance of fraud and financial crime is unique, and every scam loss is treated with equal care and consideration. Goodwill payments are sometimes made at the discretion of the Bank and may take into account a variety of factors.
Cyber fraud is a complex, growing, and ongoing challenge that we all must work together to combat. Bendigo Bank continues to work with our financial sector peers, fintech companies, government, regulators, and law enforcement agencies to combat what is an organised criminal activity. The Bank's security staff remain vigilant and work closely with Australian cybersecurity agencies, intelligence, and technology partners to detect any malicious or abnormal behaviour.
In the financial year ending 30 June 2023, Bendigo Bank stopped $38.6 million in fraudulent transactions or around $105,000 per day. The Bank has tightened transaction rules blocking high-risk payments to cryptocurrency exchanges, removed all links from SMS messages and significantly increased the size of its fraud prevention and response team.
Bendigo Bank would like to take the opportunity to remind customers of the importance of scam awareness and vigilance. The Bank provides customers with regular alerts about current scams, including bank impersonation scams, targeting customers and maintains a webpage with general tips for customers on how to keep their details safe on its website.
On Saturday 20 July, specifically, Bendigo Bank warned of the increased prevalence of scams in the midst of the widespread, global system issue on social media channels and its website.
Bendigo Bank will never ask for your details, or to transfer money, download software or login via a link sent through email or SMS. If you are speaking to someone claiming to be from Bendigo Bank and you are unsure if the caller is legitimate, hang up.
The Bank launched a face-to-face education program to help our 2.5 million customers safely navigate online banking in September 2023. More than one thousand Bendigo Bank customers, and members from dozens of different community groups are now better equipped to navigate digital banking and better protect themselves online after attending these sessions. We encourage customers and community groups to enquire about our ‘Banking Safely Online’ sessions at their nearest Bendigo Bank branch.
Bendigo Bank recommends following ScamWatch’s advice:
STOP – Don’t give money or personal information to anyone if unsure. Scammers will offer to help you or ask you to verify who you are. They will pretend to be from organisations you know and trust like Services Australia, police, government, or a fraud service.
THINK – Ask yourself could the message or call be fake? Never click a link in a message. Only contact us, businesses or government using contact information from their official website or through their secure apps. If you’re not sure, say no, hang up or delete.
PROTECT – Act quickly if something feels wrong. If you notice unusual activity or if a scammer gets your money or information, visit www.bendigobank.com.au/security to report it and get support.
