27 February 2006

Financial Institutions take step to safeguard customer E-Security

Note

"Banks and Credit Unions will never send you an email asking for your personal security details."

Today, the Hon Chris Pearce MP welcomed an announcement by the Australian Banker’s Association (ABA) and the Credit Union Industry Association (CUIA) that further enhances consumer protection. Mr Pearce, Parliamentary Secretary to the Treasurer, has responsibility for consumer affairs at the Commonwealth level.

“As part of National Scam Awareness Month, Australia’s banks and credit unions have issued a statement which provides a clear message to consumers: Your bank will never send you an email asking for personal security details.

“These sorts of emails are very common and can appear genuine, but they are not.

“If you receive this sort of email, you should report it via www.scamwatch.gov.au and then delete it. Australian consumers expect that their hard-earned dollars are held securely. I applaud the ABA and the CUIA for taking yet another step to support consumer protection.

“Scam Awareness Month is part of a broader ‘War on Scams’ campaign by the Australian Government to help reduce the risk of Australian consumers being caught up in scam operations that can prove very costly.

“The Australian Government is working very closely with the Australian Competition and Consumer Commission and the Australian Federal Police to gather information about the scam operations and track them down.

Further information about Scam Awareness Month is available at www.scamwatch.gov.au or 1300 795 995

CANBERRA

27 February 2006

Media contact: Gillian Harvey 03 9887 3890