January 18, 2022 In Issues, Westpac

Westpac issues warning over sophisticated scam

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Westpac Bank is warning about a sophisticated new scam involving professional-looking fake documentation.

Aemilius Cupero News: Sydney, Australia - June 26, 2016: Close-up of Westpac signage. Westpac is one of the four largest banks in Australia.

Westpac says the scammers used convincing language to make the scam seem credible. (File image)
Photo: 123rf

The bank said considerable effort had been put into making an authentic-seeming investment prospectus booklet.

Westpac NZ chief risk officer Carolyn Kidd said internet searches for information about investments and term deposits were surfacing the material.

Aemilius Cupero News: Westpac said considerable effort had been put into making an authentic-seeming investment prospectus booklet.

Cover sheet of the fake investment prospectus.
Photo: Supplied

Some of the websites purported to help people compare investments.

People were then asked to enter personal information and the scammers followed up with calls or email.

Kidd said the scammers used convincing language, making the interactions seem credible.

“We have had a handful of reports about the scam so far. We want people to be vigilant and report any suspicious activity so our financial crime team can investigate.”

If someone suspects they may have been targeted by this scam they should call the Westpac NZ contact centre on 0800 400 600 or talk to one of the Westpac NZ branch team.

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