Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

NZBA warns against email whaling scams

Media Release

23 August 2016

NZBA warns against email whaling scams

The New Zealand Bankers’ Association (NZBA) warns that anyone can be the target of an email whaling scam.

Following a fake email purportedly sent by NZBA’s chief executive to a colleague, it was thanks to training and attention to detail that the scammer was foiled. NZBA’s workincludes educating consumers on fraud prevention, and believes the incident shows that any organisation can be the target of scammers.

“This attempt has reminded us that no organisation or individual is immune to whaling,”said New Zealand Bankers’ Association chief executive Karen Scott-Howman.

“A colleague noticed a suspicious email that looked like it was sent by me demanding an urgent payment. However, when you looked carefully there were a number of classic whaling hallmarks including poor grammar and spelling. Whoever sent the email hadalso done their homework – they mentioned the name of our finance manager and that he was on holiday to try to create urgency and authenticity.

“Cybercriminals have become quite sophisticated, and people could easily fall victim to a whaling or bank email scam if they are not vigilant in making the appropriate checks before acting on an email.”

The people behind whaling scams put a lot of effort into creating emails that look authentic by using logos or personal information to make their request appear legitimate. NZBA says that educating all staff on these types of scams, and training them to pay careful attention to detail and to follow processes makes it difficult for scammers to succeed.


“We all have a role to play to help protect ourselves from financial crime. We are gratefulthat this failed scammer provided us the opportunity to remind New Zealanders what to look out for,” said Scott-Howman.

Follow these tips to help avoid whaling scams

• Spam emails are often disguised to look legitimate. If it doesn’t seem right or looks odd, take your time and take care to double check first before handing over personal information, clicking on links or replying. It’s always a good idea to check the email address against one you know to be legitimate and to type in a full web address.

• Ensure all staff are trained to recognise suspicious emails and follow processes when handling payments or other requests.

• Make sure your organisation has robust internal processes for authorising payments such as two-factor authentication or face-to-face verification.

• Don’t reply to, click on any links, or open any files in spam emails or text messages. Don’t call any numbers in spam emails or text messages.

• Never share your bank account login details, cards, PINS or passwords with anyone – not in person, online, over the phone, or in emails or texts. Your bank will never ask you for this information.

ENDS

Whaling email sent to NZBA

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Smelter: Tiwai Deal Gives Time For Managed Transition

Today’s deal between Meridian and Rio Tinto for the Tiwai smelter to remain open another four years provides time for a managed transition for Southland. “The deal provides welcome certainty to the Southland community by protecting jobs and incomes as the region plans for the future. The Government is committed to working on a managed transition with the local community,” Grant Robertson said. More>>

ALSO:

Economy: Strong Job Ad Performance In Quarter Four

SEEK Quarterly Employment Report data shows a positive q/q performance with a 19% national growth in jobs advertised during Q4 2020, which includes October, November and December. Comparing quarter 4, 2020, with the same quarter in 2019 shows that job ad volumes are 7% lower...More>>

NIWA: 2020 - NZ’s 7th-warmest Year On Record

The nationwide average temperature for 2020, calculated using stations in NIWA’s seven-station temperature series which began in 1909, was 13.24°C (0.63°C above the 1981–2010 annual average). New Zealand’s hottest year on record remains 2016, when... More>>

Quotable Value New Zealand: Property Market Set To Cool From Sizzling To Warm In 2021

Nostradamus himself could not have predicted the strange series of events that befell our world in 2020 – nor the wild trajectory of New Zealand’s property market, which has gone from “doom and gloom” to “boom and Zoom” in record time. Even ... More>>

PriceSpy: Research Reveals How Shopping Behaviours Have Changed This Christmas

According to a new survey* from PriceSpy , almost 50 per cent of Kiwis are looking to shop locally this Christmas in light of Covid-19; The research also found consumers are changing their shopping habits, with one in seven (14 per cent) getting super-organised ... More>>

Commerce Commission: Noel Leeming Group Warned For Making Delivery Representations Without Reasonable Grounds During COVID-19 Lockdown

Noel Leeming Group has been warned by the Commerce Commission for making delivery representations about two products which, in the Commission’s view, it did not have reasonable grounds for at the time the representations were made. The warning ... More>>