Documents Relating To Bank Impersonation Reports. Keywords: National Anti-Scam Centre, Nasc, Banks, Reports, Scamwatch

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This document is internal ACCC correspondence regarding bank impersonation scams, specifically a prepared media response issued to the ABC about HSBC targeting. Between July 2023 and February 2024, Scamwatch received 422 reports of HSBC bank impersonation scams causing $6.3 million in losses, part of a broader 6,800 reports across all banks resulting in $18 million in losses during 2023. The National Anti-Scam Centre (NASC) identified that scammers use sophisticated techniques including mimicking real SMS sender IDs and replicating bank verification processes to deceive customers. The ACCC advocated for mandatory, enforceable scam codes establishing minimum standards across industries with clear obligations on banks to prevent scams, alongside consumer-focused dispute resolution pathways. No specific enforcement action against individual banks is detailed in this excerpt.