While most Australians are busy at 4pm on Tuesday afternoons wrapping up work, handling school-pick-up or rushing to the gym, new Westpac data has revealed this is when customers are most commonly being scammed.
New analysis of Westpac transaction data reveals Tuesday afternoon is the most common time scammers are striking, followed by Thursday and then Monday coming in third.
Westpac Head of Fraud Prevention, Ben Young, says scammers take advantage of people when they're distracted.
"We're seeing a clear pattern where scammers are striking later in the day, most commonly on Tuesday afternoons, when people are multitasking and not paying close attention to the signs that something could be a scam. These scammers are opportunistic and taking advantage of people when they can," Mr Young said.
"You might receive a suspicious message in the morning, but it's often in the late afternoon, when your guard is down, that you act on it. That's the window scammers are counting on, and this is why it's so important for people to stay alert and take a moment to think before clicking links, sharing information or sending money," Young said.
According to the data, remote access scams (29%), investment scams (20%) and buying and selling scams (13%) are the most common scams impacting customers at 4pm.
"These scams are designed to catch people off guard. Remote access scams in particular often involve a sense of urgency or technical confusion, perfectly timed for when people are less focused," Young added.
To help combat scammers and support customers, Westpac has introduced a new AI tool to help detect scams in real-time during customers calls. The bank has also added a feature to the app so customers can report scams digitally and it will introduce SafeBlock in the coming months, so customers can immediately block their accounts to prevent further damage if they suspect they're being scammed.
"We know scams can have a devastating impact on people's lives, so we're constantly monitoring and adapting our protection measures to stay one step ahead and help our customers," Mr Young said.
"I would encourage everyone to keep your eyes peeled for scam activity and if you suspect you've been impacted, tell the bank immediately. The earlier we're notified the sooner we're able to try and help."
Tips to help protect yourself from scammers
- Never give out your personal or financial information to anyone you don't know or trust.
- Don't click on links or open attachments in unsolicited emails, text messages, or social media messages.
- Do your research before buying anything online and check the seller's reputation and reviews.
- Always phone a company to check the payment details are correct before paying an invoice.
- Be wary of offers that sound too good to be true.
- Don't send money or gift cards to someone you've never met in person, no matter how convincing their story is.
- Phone a family member or friend if you're unsure about anything.
