Scammed or nearly scammed? How to report – and why it matters
Scams remain an ongoing challenge in Australia, with more than $334 million reported losses in 2025. Customer-owned banks are proactively combatting scams through a series of high-impact initiatives under the Scam-Safe Accord. By collaborating directly with government agencies and regulators, these institutions are building a unified front against financial crime.
However, the effectiveness of all scam defences relies heavily on timely intelligence. This is why customers have an important role to play by stepping up to report a scam or any suspected fraudulent activity.
What happens when scams are reported?
In reporting any suspicious activity (even if there was no money lost) customers can make a big difference by providing valuable intelligence that helps protect others.
When someone reports a scam, the information becomes part of a national intelligence network, with the data shared across government agencies, industry partners like the Australian Federal Police, ASIC, Australian Transaction Reports and Analysis Centre (AUSTRAC), and financial institutions.
“Information such as the type of scam, payment channel, contact method, and duration of communication is invaluable, as it is analysed to identify patterns and emerging trends used by scammers,” explains COBA Head of Financial Crimes and Cyber Resilience, Martin Latimer.
A key initiative of the Scam-Safe Accord was banks joining the Australian Financial Crimes Exchange (AFCX) and the Fraud Reporting Exchange (FRX) to facilitate the timely sharing of intelligence regarding scams, and to help customers recover money faster.
When customers report a scam to their financial institution, their bank or credit union can freeze the scam accounts and share the details of these accounts with other financial institutions, to ensure scammers aren’t able to move funds to other accounts.
“This intelligence sharing capability means that detecting one scam can help protect the whole community from the same trap,” Latimer adds.
Importantly, all the information gathered can also be used to take down scam websites, ads, and contact details - helping stop the next person from being scammed.
Every time customers report a scam, it adds a new piece to the puzzle, establishing links between criminals, scam activity, and daily attempts to defraud millions of hard-working Australians.
Why some victims don’t report scams
Scams can be devastating, affecting people’s financial outcomes, draining their savings, and destroying confidence. Sadly, they have become increasingly commonplace, with emails, social media, and phone calls among the most common contact methods used by these criminals.
While scams can happen to anyone, and there is no shame in getting scammed, victims often grapple with difficult feelings of stigma or fear of judgement. This results in many people being reluctant to come forward and report any suspected activity.
In some cases, victims may not be aware of where or how to make a report if they have been scammed.
“With many people still unsure about why they should make a report, it’s more important than ever to highlight why every scam reported in the system makes a difference, and how people can make a report,” explains Latimer.
How to report a scam
If you have been scammed or encounter a scam, it’s important to report it to ScamWatch.gov.au to help protect others.
When in doubt, remember to STOP. CHECK. PROTECT.
- Stop - don’t share personal information or send money to anyone you don’t know
- Think – ask yourself, could the message or call be fake?
- Protect – act promptly if something feels off
If you suspect you’ve been scammed, don’t send any more money and block all contact with the scammers. Get in touch with your bank or financial institution to report the scam, and to stop any new transactions. You can also request a temporary ban on your credit report to ensure no unauthorised loans or credit applications can be made.
It’s also important to keep screen shots of conversations with scammers or websites to be able to provide all available information to your financial institution.
If you’re concerned that the scammer has your personal information like your phone number, email, address, or any ID documents, it’s also best practice to enable multi-factor authentication and change passwords on your accounts. Opt for a strong password with 10 or more characters using alphanumeric and special characters and ensure it is a password you haven’t used before.
Author: Customer Owned Banking Association (COBA)
To contact Bank Orange
- Local: (02) 6362 4466
- Overseas: +61 2 8299 9101
- After-hours fraud reporting 1800 648 027
