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    Managing your finances

    What to do if you become victim to fraud or scam

    Article

    It is important to know that anyone can fall victim to frauds and scams. Please know that you are not the first, and unfortunately won’t be the last person this will happen to, but by taking the steps blow, you will be well on your way to protecting yourself going forward.

    Been compromised? Here’s what to do:

    • Contact all your financial services providers (banks, credit card companies, etc.) immediately to understand what steps can be taken and what additional protection they may offer. Consider reducing payment limits or asking for your account to be blocked, as an example. Your bank can have your account stopped, assist in resetting passwords, or may be able to add security questions or transaction alerts to protect you from loss.
    • Update your MyGov account security – password, secret questions/answers, PIN.
      • If MyGov provides alternate/ additional recommendations (e.g. passkeys) for their system, follow their direction 
    • If there has been any fraudulent activity on any accounts, lodge a report with the Australian Cyber Security Centre – www.cyber.gov.au/report-and-recover
    • If you have been affected by a scam, report the matter to ScamWatch –  https://www.scamwatch.gov.au/report-a-scam. Reporting to ScamWatch helps them disrupt scams, monitor trends, and warn the public about new and emerging scams. 
    • Contact ID Care - https://www.idcare.org/ - ID Care is an independent not-for-profit organisation that offers support to victims of scams, identity theft, and cybercrime. 
    • Check your credit report – this can be done via either Equifax or Experion. A credit check will show if there have been any applications in your name, and you can also subscribe to credit alerts, where you will be notified if any applications are made in your name.  
    • If you believe (or have been notified that) your personal information has been compromised via a data breach, visit Report and recover from a data breach | Cyber.gov.au and follow the recommendations.
    • If your device has been compromised by malware, or if you have downloaded any remote access apps at the request of a scammer, your device will need to be forensically cleaned. We would recommend this be done by an IT professional. You can find more information around this at Report and recover from malware
    • Change passwords to all online accounts. If your device has been compromised, this should not be completed on that device until it has been cleaned and is free of any malicious software or remote access apps.
    Things to note going forward:
    • Never share account login information with anyonewith anyone. This includes security codes, passwords, and SMS verification codes.  
    • Do not click on links in unexpected emails or text messages.
    • No reputable company will call over the phone and ask for remote access into your device.
    • If you receive an unexpected call and you are not sure if the caller is genuine, ask for a reference number or employee ID, and all back on a trusted number located on their company website to confirm if the call is genuine.
    • Do not give out personal, account or online details unless you are able to confirm the identity of the person calling.
    • Remember that scammers and fraudsters are persistent, and will often target prior victims in the hope of having success again.
    • Visit www.staysmartonline.gov.au for information on how to keep safe online.
    • Stop and think when things seem to be too good to be true. If you have any doubt, get a second opinion from a trusted person such as a family member or adviser.
    • If you need someone to talk to, reach out to family and friends or contact Lifeline or Beyond Blue to speak to someone online or over the phone. 

    For more information

    Please visit Annual Cyber Threat Report 2024-2025 at Cyber.gov.au.

    Important information

    Information current as at June 2026. This paper has been prepared by BT, a part of Westpac Banking Corporation ABN 33 007 457 141 AFSL & Australian Credit Licence 233714 (Westpac).

    This communication has been prepared for use by advisers only.  It must not be made available to any client and any information in it must not be communicated to any client.  
    The information contained in this paper provides an overview or summary only and it should not be considered a comprehensive statement on any matter nor relied upon as such.
    This information does not take into account your personal objectives, financial situation or needs and so you should consider its appropriateness, having regard to these factors before acting on it.

    © BT - Part of Westpac Banking Corporation 2026