Almost half of Westpac NZ customers say they are finding it harder to identify scams, as criminals adopt increasingly sophisticated approaches to swindle their victims.
In a new survey of more than 1300 Westpac NZ customers, 87% of respondents believed they had received a scam email, text or phone call in the last six months, and 49% believed scams were becoming harder to identify.
Westpac NZ Head of Financial Crime Mark Coxhead says techniques used by scammers have become significantly more advanced in the past year.
"There's a notion out there that it's only vulnerable populations, or older generations who are less 'tech-savvy' that fall victim to scams, but the reality is that everyone is at risk," says Mr Coxhead.
"It's important everyone is vigilant about unsolicited contact, whether that is a phone call out of the blue or a text message about a parcel you hadn't ordered."
The bank has today released an audio recording of a scammer pretending to be from the 'Westpac Fraud Team' when talking to a customer, to demonstrate the complexity of modern scams.
"We're seeing scammers use personal information they have been able to gain online illegally to appear legitimate. They might be aware of your name, the end digits of your credit card number, or your approximate location and pair this with urgent requests to 'help' you remedy a situation," says Mr Coxhead.
"They then call from a phone number that looks legitimate, so it can be hard for customers to know exactly who they're talking to. The recording we've released uses many of these techniques.
"Fortunately, in this case another fraud detection system blocked the transaction, so the scam was unsuccessful.
"It's not just banks being impersonated, it can be telcos, government agencies or other service providers. Recently we've seen scammers claiming to be from IRD and Waka Kotahi."
Mr Coxhead says young people also agreed scams were becoming harder to spot, but were less concerned about becoming a victim which puts them at risk.
He urges customers to contact their bank immediately if they think they've been the target of a scam.
"We're working around the clock to keep our customers safe, but customers can help us and themselves by staying vigilant and reporting anything that doesn't seem right."
