Credit Unions Act on Email Scam

19 June 2006

The Credit Union Industry Association (CUIA) is warning all credit union members to be aware of scam phishing emails that are being sent to credit union members today.

CUIA Fraud Prevention Manager, Leanne Vale, said the hoax emails began circulation over the weekend, and ask members to provide their banking details due to software or database upgrades.

Ms Vale said the emails carry the logos of a number of prominent credit unions and associations and direct members to a variety of website containing the words "webbanker" or "systemupdate".

"Fraud prevention officers from credit unions across Australia have been notified of the attempted fraud," Ms Vale said. "We are working with the Australian High Tech Crime Centre to have the site shut down as quickly as possible.

"All members should be aware that credit unions will never ask for your password, pin number or personal banking details in an email, an on-line message or in an unsolicited phone call.

"These fraudsters are attempting to gain access to our members personal banking details so their accounts can be stripped of assets. The only way to beat the fraudsters is to ignore the emails.

"Most members are aware of the risks associated with provided such details on-line and have called their credit union to verify the email without responding to it. In short, they have been very much on the alert to not take the bait."

Ms Vale said any credit union member receiving such an email should delete it. Anyone who may have fallen victim to the scam should contact their credit union as quickly as possible.