Is there a meaningful solution to stopping scammers and financial fraud? | 60 Minutes Australia 

Good on you !!!!

Me too. I once even hung up on my real bank several times. I thought they were scammers. Better to be too suspicious.

@@playlisttarmac I think I got one today, but it was hard to tell, maybe just very rude... I picked up the phone upstairs as my other half simultaneously picked it up downstairs and a chatty older woman started prattling on to my husband about an energy-saving and insulation audit. She then said, "Sir, are you the home-owner?" and I just butted in and said "This is a rented property" Without another word she hung up on us! We were shrieking with laughter. It's always nice to start the day with a good laugh!

I do it too. Go through my spam emails and reply to one and engage them. One wanted me to deposit money in an account that was looks legit. I backed out. One was going to get me a refund of 250k but I need to send money for legal fees. The name he gave me wasn't the name we started out with and I said I won't as I'll use the first name. He got mad and told me to come get the refund myself 😂

I will not believe or respond to callers, emails, or texts. I call the company directly myself if I'm curious to know more. Although I mostly ignore things. The last one was getting an email from my health fund saying they needed my bank account number. I called them directly (not using email info) and it turned out not to be a scam. But then you have to play it safe.

I’m a member of a bank owned by HSBC so my first two numbers of my sort code is same as HSBC. I was contacted by someone claiming to be from HSBC fraud department re my account. I told them they were wrong, that I didn’t have an account with HSBC so no point in talking to me, I knew they were scammers as my bank would not casually ring my mobile number to discuss anything, they would ask me to contact me & then take me through security before having any conversation about my account.

You're the real MVP!! Keep spreading the word!!

A rogue bank employee could call you, successfully get that info out of 1 in 10 cold calls to their banks customers then pass it on to the scammers. I've worked in various banks fraud investigations dept for over 30 years and have seen this done many times. The lesson is call your bank yourself every time.

CORRECT!!!!!!!

Whenever I get a suspicious SMS message supposedly from my bank on my phone, I take a picture & send it to my bank for their investigation.

You know they're scammers if they can't speak good English like a native. True Aussies and Americans and Europeans speak perfect English. If not hang up now.

My Canadian boss used to get scammed despite all our warnings and pleads for him to be aware of them. Nothing worked. He passed away since then and his widow is so scared of those phone calls now that she doesn’t even listen and hang up the phone saying “I don’t want “ 😂 She might even curse at them depending on her mood.

Specifically, India, with the blessings of the federal government

I was told by the bank that they work as a very big organisation such in Sri- Lanka, India, North Korea ...

@@SimonFranck100by blessings of state government (police force is administered by states.

You are so right... I received a call from someone claiming to work for microsoft ha ha ha... there was a problem with my computer she said... I said, thanks, but my computer is just fine, and you are a scammer, and do not work for Microsoft... she said she could prove it... but I just said: f. off - she spoke and I said, louder F off - and by the third time she cut the line.... It makes me so mad! I just block the number.... It sais a number from Belgium, but could come from anywhere.... we live in Sweden - I have blocked two of their numbers now.... I hope they rot in HHHHHHH

​@@EllieChristine744I've lied by telling them I don't have a computer or broadband but have also told them they're scammers and to get off my f...en line or I'll call the police. They're low-lifes with no morals and it's sad that we have to speak so rudely to unknown callers. Having watched a few scam-baiter videos, I keep reminding myself that it's justfied because they'd steal, given half a chance.

I've always said, I'll call the bank directly, and hang up. Every single time, the bank has told me, they didn't call.

@@EllieChristine744 I have had a few with the person saying they worked for google, so I say I work for microsoft and that they were full of shit. It's hilarious how long some of them will stick with it, but when it stops being funny, I just unload every vile thing I can say and boom, they are gone.

Cloning of your card is also real. South Africa.

Hi , I got online scammed, I lost some money, very sad. This must be stopped, I reported and called police, they are working on it .

@@cuongnguyencuocsongcanada9881pffft. Police will do nothing. They won’t even try.

Geesh, that is terrible! So sorry it happened to u! Some FB messenger accounts get hijacked! I have not been able to retrieve my old FB accnt!

I am sorry you were scammed - some of these scammers are very clever and convincing. But I just want to say that I admire your willingness to help a friend - and hope that next time it will be an actual friend of yours. I am sure you have heard a lot of ways to be sure of that in the future.

Introduce the Shariah Law

We don't need a religious idiocy in order to improve scientific process and systems. No thanks.

How can you threat someone in India with Australian law?

Indian cops are severely corrupt. There are scam call centres everywhere and police are paid off too look the other way. Also victims of scams from India need to fly to India to give evidence if a case is created. So often there is therefore insufficient evidence to proceed.

If conservatives didn't exist, these scams would go bye bye

So here’s a scam you might not know since you said that:if someone calls you and you think it’s a bit dodgy so you end the call and then call your bank, if they didn’t hang up, then you’re not calling the bank, it’s just still them. They pretend to be other people. At least on a landline.

Hang up especially if the other person talks horrible English lol

Yep, make sure you have a dial tone before pressing any numbers.

Anything you need to do at the bank go back to physically walking into the bank and get your issue sorted in person. The more people that go back in to the banks to do business will force them backwards. When you're doing the banking on the phone or internet, you're doing their job and not being paid for it, you're paying them to but your doing their job, you're being placed at risk. It's the same at self serve checkouts your doing their job and you're paying them for you to do that...

Correct! The best advice.

They need to suffer the same financial loss themselves.

As long as the Australian banks can deny any responsibility, there's NO impetus for them to put an end to it. A simple text to release any large funds is all. They couldn't/woudn't do that. Shame on NAB!

These financial scammers would quickly go out of business..it there weren't so many gullible people willing and able to give their money in hopes of a big cash windfall... Greed, plain and simple..🤔

My bank has an option to limit transaction levels - mine is set at $3,000. Anything over that and I would be notified. There needs to be a lot more education on how to safeguard yourself - people can't just blame the banks unless they really are at fault. Also more education for the technologically-challenged, as well as on the types of scams in operation. Humans are pre-programmed to trust, but people need to be more aware also.

The scammer gets all the information necessary to change all passwords and change te two step notification that allows her to take control of the account.

@@sheilaboston7051 I would set it at 100 dollars.

They only like to prevent fraud against themselves. Banks are criminal organisations and they want your money.

Hell when I wanna buy shit from overseas I have to call my bank get them to unblock the transaction as they flag it like it’s only for 180😂 multiple times I’ve had to do this to buy something I wanted

Unless you know who you are calling and you call first.

@@sr2291 and that being said, all info that banks/govt need to identify you are your name, DOB, debit number and possibly an email address. NEVER give out any other information.

it's easier said than done. especially when they are pretending to be from your financial institution or your phone company

@@MrBibi86 So, don't take their word for it. Hang up and call the institution in question.

Yeah that's common sense no internet company ever gives anybody a refund ever ! Huge red flag !!!!!!!!!!!!!!!

Really? I’ve gotten refunds on the rare occasions items did not arrive. Online bookstores, in particular, are very accommodating. I once bought a book in Dutch, thinking it was in English, and wanted to know if I could return it. It was my fault, too. Since this happened during the pandemic, they were not accepting returns but gave me a refund anyway. Another one told consumers to inform them when a book was taking too long to arrive, I did so, and got a refund on the spot. The books turned out anyway and I contacted them and paid again.

What sort of Internet company refunds 500 bucks? That's a red flag. I had an email urging me to claim 200 bucks voucher because I bought a certain product from a supermarket, when they sent a second email, i called the loyalty card provider to lodge a complaint. All the emails pertaining to this goes in the bin :/ The same with receiving unknown phone numbers. Don't pick up, call them back on the work phone!

@@Nocturnalux they contacted YOU and told you that you never received the books? then they asked you for your bank info to give you a refund? I highly doubt that. Of course companies are going to refund for purchases that were never received when you call them. If I get an email from Amazon stating they need my bank or credit card info so they can make a refund, I know that it’s a fake because Amazon already has that information.

Scammers are in the midst of this chat🔥☄🌋⚡

banks need to have tougher barriers to transfers, even if it upsets a few people.

They transfer under the alert limit over a period of time.

Mine also

The latest scam is email receipt for a purchase with an image of the paid bill with info and phone to call back.

Me Too. I get many calls from scammer. My phone tells me that this a scam call, I don't answer. Hahaha

Yes, but you're not falling for it. These people gave their money away, and then expect the bank to cover it.

​@@Ausfdickhead..

@@Lilygirl283 @Ausf is partly correct. Different if you're a business that gets an invoice, you pay it and then the funds get re-routed. That is hard to combat. However, the average person should, by now, know not to answer unsolicited texts and emails, or, at least, to check first. Our problem is that humans are programmed to believe that most people are trustworthy - it's unfortunate that is no longer true.

Wow thanks for being such a great daughter and catching it, just in the nick of time. Sad to say, but your dad perhaps needs to NOT be an authorised user on those bank accounts. (The local bank enabled me as an authorised agent for my elderly Mum's account). And if possible have his computer setup so he is just a "user" but cannot download or enable new software without an "Administrator" login (which you can have).

Sorry to hear what happened but what you described is classic scambaiter channel content. Every detail is the same. The scams are all the same, just tweaked slightly as they get caught.

Be as racist with them as you want, they're scammers anyway!! I'm of brown race and I'm enraged & hate scammers with a passion too!!

be rightfully suspicious, I honestly doubt that my banks would every hire someone with a strong accent

I've had Indian & Nigerian peeps try scamming me & I don't care if I'm actually accused of being a racist because these days it barely has any meaningfulness.....& they're the one's calling me. Of course it's not all, but unfortunately a stereotype has emerged.

Quite often they aren't. Someone will just straight uo withdraw the cash from the account in aus and move it overseas via other methods. Or use card transactions in aus to purchase untraceable assets such as bitcoin. International payments are deff scrutinised a decent amount and are avoided by scammers

@@canaans1 yes scammers use gift cards and bitcoin because they are untraceable

And set a limit on how much to withdraw

What a fab idea!

@@yveeriksson7437 What do you mean? This has been a standard for ages now. You can easily change the limits in the apps / website. You can do it at the branch. Is this a tongue-in-cheek response or something?

Thanks for the suggestion. I enjoy these stories! I am a CPA so new scams always interest me!

And Jim browning ❤

Exactly. And if RU-vidrs funded by patron can do it then the banks with multimillion dollar security budgets should be able to shut the whole scam industry down.

Yes..scammer patback is good to watch

it needs to be harder for older people to withdraw large sums of money. If you watch a bunch of the romance scam videos, it's astonishing the lengths old ladies go to in order to send their life savings to their new fiance 'Johnny Depp' or 'Barry Gibb'. Some of them even take out loans and don't even have enough money left to buy groceries. It's shocking.

On the phone, you can always tell from the accent that it's a scam.

They turn a blind eye because they are "bribed" to do so.

Jim Browning hacked a call center and turned all the info over to the police. He had the phone system hacked as well as the cams and watched a conversation between the police chief and the scam call center owner. The call basically said "Ok we're going to meet up now and make sure to BRING IT". We all know what it is.

@@permanentfrown4766 ​ @permanentfrown4766 There's a few others doing scams, but the scams looking to take people's entire bank accounts mostly come from one country. There's something seriously wrong with them. I can't see any other reason that makes any rational sense. Over half the world is English speaking with many of those areas impoverished, but they don't make these calls looking to use connect software to take all your money.

@@Peekaboo-Kitty yeah exactly. Which means they are in on it

Simple solution. Change your phone number everytime it happens. Most times they won't get your new number for at least a year.

Victim? Or a simple idiot? Not much difference these days is it?

Keep a loud whistle on your person at all times, and when the scammers ring your phone 📱 blow it long and hard in their ear 👂.

Never answer unknown callers. It's that simple.

Could be a rules issue. It's like the accounts are set up for power users - with sufficient authorization provided over the internet, the customer is able to drain their account in days, or quicker. -but the average customer is better off without this power. Set low transfer limits in the hundreds or thousands per day, and if that's not enough, the customer can consider themselves rich to even have such a problem.

Sooooo true. They would scam banks too!

That’s not very important

@@M_SC lol, of course it isn't, until it happens to you or someone you know. too many of us humans are like this, that's why we'll always be vulnerable to these tricksters and thieves, who are constantly upgrading and changing their tactics.

No, if there are people who are dumb enough to get scammed there will be scammers.

@@ryanreedgibson there will always be people like that because people will always try to get something for nothing, which is exactly what scammers promise.

Thanks for stating the obvious ratbatnufftime2861

Think you mean losses lol

What's that got to with fraud?

Add the guilt trip, the narratives of trickle down economy, the pomp of self decorating as “job creators” and looking down because you work as employee (means you are dumb and open to welfare unless someone get you a job).

My elderly neighbor also fell for the Microsoft scam. He ended up giving them his back account info so they could "fix the problem" and he had a couple thousand taken from his account for "support."

So he was elderly but wasn’t scammed but your trying to say the elderly are scammed more? Your post is contradictory

in my country theres job offerings that are money laundering operations and some people dont know that they are participating in a crime, also do to high elderly population, most elders are still scammed in person, i would say the 40-60+ population is more prone to phone/email/message scammers and the younger population is scammers from second hand market or fake websites offering cheap prices, at least this is my anectorial evidence.

I'm a retiree living in Mexico. We were hit, in the early 2000's, by Nigerian scamming over landlines, who knew the names of distant nephews, who were coming to visit, but were broken down on the road to our city. Seems strange, but some people sent money. Yes, the elderly are vulnerable.

Thank you for trying to help. Your comment about dementia is so true. Many don't realize that someone is in beginning stages of dementia...heck, the person themselves possibly, won't realize?!! It's frightening, and yes people need to help their family. Dementia is getting worse as population ages. God bless you for trying to help a friend from afar. 🕊🙏🐾🐣

I can't believe they still use cheques in the US. they went out here in the mid 90s

Other countries can't go after someone in different countries & esp citizens.. The US police don't have jurisdictions to act in other country. And scammers operate in countries where the law is weak & police are corrupt or don't care. Or they simply don't have the recourses to do so. Then it's better to not give you false hope that they could get them in any way. Or that there would be any chance that they were held responsible in court. ESPECIALLY when the victim is in another country.. think about it a bit further..

Maybe it's too much cost to go after the person

​@@ingridakerblom7577: They can use interpol just the same as narcotics, human trafficking, or other criminals.

This is nothing new to me as I've been hearing a lot of these type of complains from customers when I worked before as a complaint manager in one of Telcos in Australia. Most of these victims are elderly and living alone that's why they are so vulnerable to any type of scams. The only way not to fall to scam is never entertain any link or incoming call from unknown number, instead call directly your bank or telco to verify if the call you received inquiring about your account is indeed coming from them

@@orawancarlile6192 interpol won't help if the country where the crime is comitted DON'T care and if the police there don't have the recorces.

That's great for transactions that have a location attached, but pure online transactions don't really have a location.

Did you watch the whole video?

Simply not true. They reimburse a lot of people out of pocket. They can't reimburse everyone it just doesn't make sense. Customers go in making withdrawals saying it's to buy a car, go use the cash to buy gift cards and provide the codes to someone on the phone and expect the bank to wear it. Sometimes there is literally nothing the bank can do. I think the ANZ ceo attitude is best. Did we contribute and therefore need to wear some of it or all of it? This is actually the attitude a lot of banks have, but of course they also need to be better as well. They email and text people literally on the reg with information on how to protect yourself against these really basic scams and those codes the victims read to a scammer literally say in caps not to provide it to anyone INCLUDING nab and also the code is to reset your password. She read a text that's literally screamed not to share the code and that its to change your password. In today's world where this has been prevalent for years didn't take the time to learn any basic ways to protect herself then went to 60mins complaining that the bank should fully pay for her mistake. It's only when a customer compromises their own information or authorises a transaction themselves that there is a chance they cannot be reimbursed. Even then they are often partially or fully. There is so much more in the issue with scams than 'the banks need to fix it'. Our own ATO has been scammed 10s of millions in fraudulent tax returns in the most embarrassing way possible repeatedly, telcos let people port your phone with minimal information and people just don't take the time they should to understand how scams work. The Indian government as mentioned do very little and the pressure could be turned up there I'm sure. There are known scam center owners fully identified with all the proof in the world and they drive around in their Lamborghini's and don't even need to look over their shoulder. Also comming down a bit harder on the Australian accomplices which are a required piece of the chain often getting paid to withdraw scam funds and flip it into another form to get some back to India while keeping some for themselves - often when looked at they play the victim of a romance scam, however often are not and are just straight up on the books but looked at as a victim. It's a complex issue with a lot of moving parts, but expecting banks to wear the billions every year which at the current trajectory Aussies are loosing more and more to scams will be more than the banks even even make in a few years just doesn't make any sense.

There wouldn’t be any banks left to stash your cash, if they reimbursed every person who lost money out there, think about it. Without banks, our economy doesn’t turn. This is not something you should hope for. How about, people start using common sense and sensibility. Homo Sapiens developed very advanced brains, and they’re just not using it.

He knows never to share his password but then shares the one time code. The one time code is more sensitive than your password. Why do people think the one time code is alright to share?

Always hang up and if in doubt call your bank directly, the number on your card or statement, nothing else.

​@@Vrin137I have so many phone calls with unfamiliar numbers so I never pick up because I don't expect any call

@@L9MN4sTCUk I blame, in large part, the "one time codes" that a bank will text out. Yes it will say somewhere in that text "Do not share this code". Personally I think that one time code texts should start "... Only SCAMMERS will ask for this code. DO NOT TELL ANYONE, INCLUDING BANK SECURITY STAFF. If anyone asks for the one time code, please recite the following message in a loud voice "Get a phucc up you, you utter kunt" and then hang up the phone. Here follows your one time code. 9876 . Do not share the above code with anyone. " (Thanks Catherine, you've just stopped every single scam, of the type that uses the texted one-time-codes. ) Oh but some people might be offended by the wording, I can hear the bleeding hearts from here. Yeah but many people will not lose their $100,000 or more !

The only one that seems genuine is Jim Browning. Most of the other so called RU-vid scambaiters/scambusters are only posting their content to get views and get paid, especially that Perogi clown. Notice most of them appear in each others videos and the scammers they bust don't really care that they're caught out. If they were serious about deterring these scammers they would ignore the so called privacy laws they hide behind that supposedly prevents them form disclosing the scammers personal details.

In India certainly & I presume Pakistan & Bangladesh the police are corrupt. Restaurants can’t sell alcohol without a license which is very expensive so only hotels such as Taj have them. Local restaurants pay police weekly to turn a blind eye so I’m sure scammers will do the same thing.

Not forgetting the African scammers as well.

@@gailhickman743 which countries?

@@ManiyaVinasa few, but mainly Nigeria.

What a horrible thing to happen to you. It would mortify me. Can’t seem to be able to trust anyone anymore.

haha I dont

You should never be scammed. Just hang up on anyone you don't know. Stop answering calls from people you don't know.

@@jonfreeman9682 Unfortunately the scammers are getting more & more sophisticated in their methods to suck people in. You have to be so careful.

anyone contacting you out of the blue and asking for sensitive information is guaranteed a scammer.

someone i know brought an item thru a seller from a second hand market paying with a bank tranfer he didnt received anything,so he called the bank toask for the money back, they said you need to pay the bank i think 20€ and said that the scammer needed to acepted to return the money, so he cut his loss because instead of losing 40€ he would probabilly lose 60€.

Most of the data is onshore now

You are 100% right. A cashless society will wreak havoc. The digital age has brought some good but ultimately has also changed society, people, not for the best.

666 beast system. Described in Revelation 13 in the Bible. ​@mg79277

Lol no data leak required for either of the scams these people fell for. Literally just dial a random number and make up a transaction and ask customer to help you rest their password. Eventually you will get a hit with the right bank. And if you text everyone some of those people will have the right bank. It's a numbers game - throw a big enough net and you will catch some fish. I do agree they shouldn't outsource as much for cheap labour, but for different reasons.

You thinks that’s banks? No it’s the 40 apps you have and the 20 porn sites you visit. Get real!

It’s all onshore. Truthfully.

You nailed it! Data leak from within👍🏻💪🏻🎯🎯🎯

@@canaans1 Scammers don't go fishing blind. They are not some street thugs who do not know what they are doing. Scamming is a highly lucrative business and the scammers follow a methodology. They exactly know the phone numbers of the elderly. They know which banks they have money deposited in, and they know how these banks operate because they use ways to get the money without alerting the bank. Many insurance, banks, and even pension-related companies are all outsourced to third parties in India with questionable or poor cybersecurity policies. Since then, its been scam-haven.

I hate to say this but, the bank can't be babysitters. They have thousands of customers. I am a senior myself. If anyone calls, texts or emails anything having to do with my money I call the bank directly to verify. It's a voice in the phone. It could be anyone. I have gotten plenty calls, texts, etc. Some are so obvious. If not I call the bank, electronic company, etc. directly to find out if they are trying to get in touch.

​@@adc2327Slowing down a transfer request is not babysitting. 2nd factor authentication is one way to slow down a transaction but has flaws.

Young people get their bank accounts emptied too. I've certainly read about cases in the UK where this has happened. A lot of these scams are very sophisticated and they change all the time.

@@adc2327 Not all seniors are clued up when it comes to these scammers, hence they are taken for a ride.

You don't think young people don't get scammed? You are naive.

Beware... Gen AI is very good at spreading disinformation and fake news.

Very sad. Sorry for your terrible experience. Bastards

That sucks

Wow, sad!

I'm so sorry

@@feliciamapossa9113 Thankyou

those scams are horrible, they can indeed hack into your bank accounts and empty them. We've all had those phone calls. I ask them "how do you know if I've got a computer" or tell them "that's funny, I don't have one" and they hang up. Or you can string them along for laughs and waste their time for a while.

My dad got caught and he was once quick enough to know better. He did however, at one time, really get calls from Microsoft. He was luck, he called the bank who froze the card and then Microsoft who connected and watched and tracked the offender and then cleaned up the damaged. I know because his wife quickly said are you sure and he called me to know how to block his financial info …. They only had one credit card. One of the things he did right was admit what had happened, quickly, and notify people for help. Dad was still pretty alert at the time so it surprised us that he did something he would have stopped us from doing.

May the good force be with you and your undertaking.

Thats good to know. But due to your secrecy how can anyone tell if you are legit and not a scammer offering help? Please enlighten us..🙏

may the 4th be wif ya

I recently joint the platform trading , I deposited 250euro for the beginning,and after a 3 weeks for my curiosity I tried to withdraw from my investment 50 euros and to my surprise I can’t withdraw it takes 2 weeks already but still I can’t,a woman name Alison called me that I can’t withdraw because that’s is investment money:and told me to make more investments 5,000 euros and she promised me after a month I will get thousand of profit; I don’t have than big money so still I didn’t agree with her proposal:so please tell me is this also a scam.

​@gracy2626 😂😂😂 you will get ONE thousand back but first you need to give us another FIVE thousand on top of what you already deposited and can't get back 😂😂😂 do you think it's a scam?

They got a tiny piece of info from the victims and they can somehow take all your money with that and technology. Even though there supposed to be various limits on how much you can withdraw etc

No. The bank sells off it's acct servicing to India. The legit centers and scam centers share reps and data for increased pay. The banks need to be there own service agents!! Period!! It's irresponsible to outsource service to save millions and force the client whose assets are in their care to assume all the risk of their irresponsible choices!! They need to be sued in that basically the scammers are low balling charges in exchange for data access!! There are poverty stricken towns that have fully regenerated the city centers from scammed funds!!! 3/4 of the victims are elderly lonely women and that's why no one is doing anything about it!!!!

No the victims give out passwords and download apps then scammers easily hack in very easily.

There's a lot of personal info on the dark web. Combine that with what we voluntarily put online, photos, videos, names of family members, and it becomes pretty easy to trick someone if they're too trusting.

They take over your computer and set up what looks like a real web site, by the time it's discovered the money is gone.

@JustinMcNabbIreland It's very strange isn't it, if you go into a bank and deposit or withdraw Ten Thousand dollars cash and above the Australian Federal Police are notified, but when an extremely large transaction is made its not immediately looked at and/or placed in a holding pattern before transfer and is not reported to the Australian Federal Police. Didn't the old Cheque system work to this extent of ensure money wasn't transferred until it was verified so it wasn't transferred incorrectly and we waited until the cheque cleared, why aren't we doing that with money transactions? There must be a way of just holding any major transactions like this until they are confirmed a 3 day grace period before any money is actually transferred, thus the money doesn't leave the country and gives the victim a chance to challenge the transaction and the money can be placed back to the victims account with no money loss. Is this too simple or am I missing something?

@@itsumotanoshimi They obviously found a loophole.

@@sr2291 The loophole is the immediate direct transfer of funds from one account to another, place these transfers on a 3 day holding pattern and it will stop a lot of people losing their money. It won't stop all, but this would place a large divot in the scammers pockets. edit: The banks can send immediate messages to the account holder notifying them to approve a transfer, you didn't make the transaction you stop the transfer...no money lost. Banks are responsible for protecting our money, long before the internet Banks would take the time to verify large money transactions so the bank themselves wouldn't lose out, but with technology and so many people doing banking over the internet has placed customers at high risk, the bank doesn't care they make money on the transactions whether a real transaction or a scam transaction they get a % in the money transfer. When you do your banking online, you're doing their job and you pay for it, and you are the one doing the work for them.

@@itsumotanoshimi I don't believe this story, there was no explanation of how it was possible to transfer without a security code. Also, if you transfer the money to another account, police could be involved and continue from that account. The scammer usually asks for bitcoin and gift cards

@@cristibaluta The person making the transaction only requires their security code or password to enter their bank via the internet. What security code are you talking about? When you purchase something anything you 'YOUR" code and you make the transaction and the money transfer to the account details you have selected,. There is no one or the bank the can place a security code on that transaction, it is a DIRECT money transfer, you the PURCHURSER is thee only ERSON with a code/password for your account. What security code are you talking about? There is none, otherwise I would ring my bank tell them I'm making a transfer please provide me with the bank security code so I can purchase/transfer 'MY' money. I don't know what country and your banking methods are. So I wont comment on this. I will say, I don't believe you have had an education, or you would know any transaction/transfer is not held on a security code so it can be transferred, imagine the cost of this and the confusion, I send money in one country with a security code from my country but the other country doesn't acknowledge my countries security code and it becomes days, months, weeks for the complete fuck up to be sorted whilst I wait with no money... this is logical. No bank places a security code on a transaction a code is place on access of your account. There are no security codes on money transfer. I got to the shop for a stick of gum and bought a box for $3.00, I made the transaction with my card, but I'm at the shop I don't have the Banks security code for that transaction that you're implying is needed to make a transaction...oh no they wont sell to me or I stand there phoning the bank for and spend up to an hour on hold to a get the code, how stupid is all that...very stupid. A code system you speak of would be a great solution if it could be implemented world wide system for all banking...but this is not possible due to politics, culture and how a society runs, Japan loves cash the codes would create problems and confusion, as it will then enable money transferred to be immediately traced and then can be returned, but its not the money you are tracing its only the transaction.

Totally agree with you..... I feel greatly for these people who have lost a lot of $$$$. Now.... I don't want to be heartless here It always intrigues me that these folks who have been tricked & all of a sudden it's the banks fault & not their own...... Duty of care seems to be the buzz word these days of ducking & weaving from our own responsibility & accountability of our actions.

the scammers using NAB to collect funds then using NAB account to buy crypto ?? its 100% the banks fault and their useless KYC procedures.

Banks should NOT allow withdrawals without sending out confirmation codes plus double-check with the account owner that they want to withdrawal thousands. It seems security is too lacking.

Two transactions of $40,000 should have been a red flag for the bank , was the money sent to a corporation or an individual ? why was the customer not informed that the money was transferred also if the receiving bank kept the money on hold until the customers was informed then the scammers would not have got the money , the lady who was scammed contacted the bank , why did they do nothing to stop the payment , why was the transfer done in hours when often it can take days .

​@@permanentfrown4766yes you are right. I put the limit in my account so I get email whenever it goes over the limit

Guess I'm thankful for communicating with my family in a different language. I'm with Boost and Telstra's scam filter is brilliant. I would use a code word with your children when it comes to money.

I always reply back to those with go call your father. Lol

Want to see real change with the banks? Have it cost them money every time something happens, then they will change. I have been saying this for years, start letting these companies that get hacked and lose peoples info, get sued by said people EVERY time intrusions happen, only then will they take security as seriously as they should. But as long as companies and banks are shielded by a trash government (all of them pretty much), they will never strive to do any better because no one is forcing them to do so.

Problem is it might be insider job that cohorts with the crime syndicate.

The banks are the scam 😂

but all the big banks run their own scams. if you look back over the last 20 years all the money laudring they have been caught doing. it is hard to trust them especially when they won't help.

​@@notimetodienttd1115 True.

I use only my laptop to access my bank account. Not so a friend of mine, who actually has her bank password lodged somewhere in her phone. Even though I tried to gently point out that it was a bit dangerous to do that, she got very defensive. The problem is, she's quite muddle-headed sometimes and one day she's more than likely going to leave that phone somewhere ...

Bank are cutting person maned counter and encourage people people to use automated e transactions. This easily open for more scams.

The good ones already do

which is why they are using gift cards, the issuers of which are complicit.

Especially like 100000.

You can usually set a maximum daily transaction amount right in your web account.

You would think huh ? Someone who lives in California suddenly spending thousands across the world .

The last three years has conclusively proven that 99% of the public are entirely INCAPABLE of critical thought. About ANYTHING.

In Europe they have to..

@mateodeleon1185 You're absolutely right - if anyone has the budget so get that sorted it's the banks

You can’t fix stupid.

Imagine if you are a computer genius and you have somewhat no values or conscience and money is the Devine towards your happiness, which way do you go?

They don't mimick emails and text messages. That's the thing. Their efforts are always suspect and sloppy if your brain is firing on at least a single cylinder. Apart from the fact that you should always contact the institution directly when dealing with financial matters, these sms and emails always have tell-tale signs if you pay attention. My biggest question is how can somebody so thick accumulate that much money to have stolen from them in the first place? How do you run a business and save 200k and then are so financially irresponsible as to fall for a scam my little brother sees through?

God made them get scammed in the first place.