My personal experience as a scam victim is yet another proof of the archaic and inadequate security system of the ANZ bank. Out of personal loss, disappointment, and a desire for change, I am raising this petition. I want to make the ANZ bank accountable for its poor security system, which is not up to standard, and has left many account holders like me economically paralyzed by scams.

I made a payment to my builder using their Account name, BSB and Account number and the amount was paid out by the ANZ. 

The next day, within 24 hrs, another payment was made to the same builder with the same company name, but with a different BSB and Acc number.

 Why wasn't it picked up by the bank?

Why wasn't it flagged? 

What is the fraud department doing other than to detect fraud???

What are the banks doing to provide security for our money?

After my first payment, a scammer had intercepted my email, changed the BSB and Account number and forwarded the email onto me. I was unaware the details were altered as I was on the phone to my builders at the time of payment and I was secure in the fact that the money was being paid to them as I made a payment the previous day. There was no need to check the details,,, or so I thought,,,

The scam was sophisticated. I couldn't even rely on my bank to at least flag the fact that the 3 VITAL details weren't matching from the previous day.

The ANZ didn't look out for my money, something they're supposed to be designed to do.

The 3 VITAL details weren't MATCHING and the ANZ didn't pick it up.

 

If this can happen to me, it WILL happen to you!

 

It's just a matter of time.....

 

If the banks had it in place that the 3 VITAL details MUST to be MATCHING before the paying out process,,,      we wouldn't have those kinds of fraud cases anymore..... 

The payment would simply not proceed.,,,,

The payment would stop there,,,,,

 

In the United Kingdom, banks support and compensate their scam victims, a practice that is justified and laudable. There is a need for ANZ bank, based in Australia, to not just upgrade its security system, but to also responsibly compensate the victims who have fallen prey to scams due to the inefficiencies in its current systems.

 

It is disheartening to note that scams cost Australians $851 million in 2020, according to the Australian Competition and Consumer Commission’s (ACCC) Scamwatch. A large portion of this loss is due to insufficient banking security measures that fail to detect and halt scams before they affect innocent customers. ANZ bank, as a leading financial institution, should not perpetuate such inefficiencies and should take active steps to upgrade and secure their system.

By signing this petition, you are joining the call to demand accountability from ANZ bank institutions for its poor security system and, more importantly, to push for the introduction of compensation for scam victims. It high time to enforce a change that assures banking consumers of protection, security, and justice when the unimaginable happens. Sign this petition and help safeguard our hard-earned money.