Australian Mutual Bank is introducing New Payments Platform (NPP) Holding Payments, an additional security feature added to our fraud monitoring service, designed to help protect our members from potential fraud and scams.
How does it work?
If an NPP/Osko transaction is considered high risk it will be held by our fraud monitoring service. You will receive an SMS to confirm the legitimacy of the transaction. Once you confirm the transaction is legitimate, the transaction will be released. However, if it is determined that the transaction is fraudulent or if there is no response to the SMS within 24 hours, the funds will be returned to your account.
Members should make sure they have provided us with their most up-to-date contact details to ensure they receive SMS/phone calls from our fraud team.
What will the SMS look like?
Please see below examples for the four different types of messages that you may receive:
Review
Mr Smith : Your payment of AUD 200.00 at 10:08 AM AEDT/AEST to [ReceiverName] from your account ending 2468 has been placed on hold. Please call Australian Mutual Bank Fraud Department on 1300 705 750 within 24 hours to discuss the payment.
Fraudulent
Mr Smith : Your payment of AUD 200.00 at 10:08 AM AEDT/AEST to [ReceiverName] from your account ending 2468 has been declined and funds returned to your account.
Genuine
Mr Smith : Your payment of AUD 200.00 at 10:08 AM AEDT/AEST to [ReceiverName] from your account ending 2468 has been processed as per your confirmation.
Expired
Mr Smith : As we did not hear back from you, a payment of AUD 200.00 at 10:08 AM AEDT/AEST to [ReceiverName] from your account ending 2468 has been declined and funds returned to your account. Please call Australian Mutual Bank Fraud Department on 1300 705 750 before reinitiating the payment.
How do you know if the SMS is legitimate?
The messages sent from our fraud monitoring service will use +61 437 126 492 or +61 489 988 024 mobile numbers.
Please note that receiving a text from one of these mobile numbers, or the mere presence of a text message within the SMS chain alongside other legitimate messages doesn't serve as confirmation of its legitimacy. This is because scammers can manipulate mobile numbers, concealing the actual originating phone number to make it appear as if it's coming from a different source.
To detect a potentially fraudulent SMS pretending to be from the fraud monitoring service, please note that we will:
- Only ask for Yes / No responses
- Instruct to call 1300 705 750
We will never:
- Ask for sensitive information like an access code, One Time Password (OTP) or internet banking password.
- Include links in our messages
- Send messages from other numbers
Please contact us if you have any doubts about the message.
What to do if you've been scammed
If you believe you may have been a victim or lost money to a scam, it’s important to notify your financial institution as soon as possible.
Australian Mutual Bank members can speak to our Fraud Team by calling 13 61 91 or by emailing info@australianmutual.bank. Outside office hours, please call 1300 705 750.
For more advice on how to avoid the latest scams and what to do if you or someone you know is a victim of a scam, see our Security Advice section or visit the Scamwatch website at www.scamwatch.gov.au.
