The devastated family is suing the bank after it flagged a wire transfer of $50,000 as fraud, but still allows a total of $200,000 to go to the hackers.
A grieving couple in Sydney, who requested anonymity, can hardly afford to pay off their mortgage plus basic groceries for their two children after losing $200,000 in an ‘impersonation’ scam said.
The father told News.com.au that his wife received a distressing message last December on the same text chain as the legitimate message from Suncorp Bank.
The message warned that a new Pay ID was set up to send $895 to someone the couple didn’t recognize.
They later learned that the message was a fake sent by a scammer who stole their savings over the course of five days.
The bogus messages they received had a phone number attached to them claiming to be Suncorp’s fraud department.
A grief-stricken Sydney family said they lost $200,000 after a scammer sent them a “spoofed” text message on the same chain as a previous message with bank Suncorp (pictured, couple Fake security messages received from scammers).
The couple said they are considering suing their bank, Suncorp (above), after the lack of “accountability” for the fraud put them in great pain.
What is identity theft and how to protect yourself from fraud
Caller ID “spoofing” allows fraudsters to hide their real number rather than their company number.
If a scammer impersonates a company, the scammer’s text will appear under the same chat as the legitimate company.
If you receive a call that you suspect is fraudulent, you should:
- Hang up and call the real organization to see if their story is true
- Never give out personal or financial information
- Contact the impersonated company for assistance
- Report any bank fraud to your bank or financial institution immediately and also to the police.
Source: Australian Communications and Media Authority
When her mother called, she was asked a series of secret questions, adding to the believability of the scam and prompting her to move her savings to a new account since her current account had been hacked.
So she and her husband transferred all their savings (approximately $200,000) to a new account created by a fake Suncorp employee.
After regularly depositing $50,000 into the account for five days, Suncorp froze the family’s physical accounts and warned them of fraud.
The father told the couple they were waiting for more information from the Commonwealth Bank, where the fraudster had set up a fake “new” account.
“Obviously it’s been a sleepless weekend and when I spoke with the fraud department, they said, ‘You sent the money, it’s not our fault. ‘,’ he said.
He claims that within four hours of telling the couple he had been scammed, he came to the conclusion that the bank was not responsible for the lost money.
Since suffering a loss of $200,000, interest rates have continued to skyrocket across the country, forcing my parents to consider selling the house to live with their family.
“Fortunately, my wages and my wife’s wages cover the cost of paying off the mortgage, but not everyday life like groceries, so we have groceries on hand. I rely on my family to help me get in.
“I spoke with the fraud department and they said it took an emotional toll. It’s still pretty raw and my wife is literally lying in bed in a fetal position. I have two young children. Mom are you crying?
Over the course of five days, the couple transferred $50,000 in deposits to a fake new Suncorp account, which was actually the scammer’s Comm Bank account (pictures, text from the scammer).
He and his wife claim they plan to pay off the mortgage within the next 10 years, but the loss means they face another 35 years of debt if they can keep the house. To do.
However, key information about their fraud investigation infuriates the family’s despair, leading them to sue Suncorp and Comm Bank.
The father said the Commonwealth Bank had flagged the couple’s first wire transfer of about $50,000 as unusual activity and warned Suncorp that it might be a fraud.
The warning meant that the first transfer was frozen, but the family was not notified and the remaining $150,000 went into the scammer’s account.
Commonwealth Bank recovered $42,796 from the couple’s total loss.
The couple accused the bank of failing to take “accountability” and shifting the blame to the bank when the warning system was reportedly ignored.
The Sydney couple considered suing Suncorp and Commonwealth Bank (above) after learning that they flagged the first $50,000 transfer as fraud, but allowed other banks to go through. I said yes.
“I want Suncorp to raise their hands and say, ‘We were wrong, we didn’t protect you as a customer.’ , the moment something goes wrong, they immediately close the shop, pay nothing, and don’t help us.
He said Suncorp offered to cut interest rates by 1.5%, suspend mortgage payments for six months, and pay $3,000 for medical expenses.
The couple have filed a complaint with the Australian Financial Complaints Authority and are considering a class action lawsuit along with five other families who were victims of the fraud.
Daily Mail Australia has reached out to Suncorp and Commonwealth Bank for comment.