A single phone call from a quick-thinking Westpac employee has saved an customer from losing a eye-watering $1.2million deposit to scammers.
The Westpac customer was purchasing the property through a trusted conveyancer he had dealt with previously when his email account was targeted by cyber criminals in a payment redirection scam.
‘He had used the conveyancer before and was settling on a property, so he was anticipating an email from her with instructions on transferring money for the settlement,’ Westpac Private Wealth banker Diane Zhou told 7News.
Ms Zhou said the customer received an email from who he thought was his conveyancer which laid out payment instructions.
‘He was busy and had assured me that the details sent from his conveyancer were legitimate – received via an email from the conveyancer’s correct email address, at about the right time just before the settlement date.’
Even though the man was convinced the email was legitimate, Ms Zhou offered to call the conveyancer to double check the details.
‘When I spoke with the conveyancer, I was shocked to learn that she had never sent the client an email with payment instructions, and the bank account details provided in the email were not hers,’ Ms Zhou said.
The conveyancer told Ms Zhou that several fraudulent emails had circulated from her office after her account had been compromised.
Ms Zhou’s diligence saved the client $1.2 million, and she is urging everyone to double-check details prior to any major transfer, even if it appears invoices have been sent by a trusted source.
‘I am pleased that I was able to help protect my client’s money – and hope by telling people about this story that we save others from losing money to scams,’ Ms Zhou said.
The Australian Competition and Consumer Commission (ACCC) advises if you have been targeted by a scammer to contact your bank immediately.
It also advises to seek support from the national identity and cyber support service IDCARE and report the scam to Scamwatch.
