AMP warns customers about phishing scam that could cost you thousands

A huge bank has warned its customers to be on the lookout for a scam that could drain their accounts.

AMP customers are being warned that they may be targeted by scammers through legitimate looking text messages.

The financial institution has asked customers to please remain vigilant about any potential scams being sent through SMS.

“We’re aware of an active scam targeting AMP Bank customers,” the bank said on Twitter.

AMP have warned people to be on the alert for scam texts pretending to be from them. Picture: Supplied

“If you’ve received an SMS similar to the text below, please do not respond. If you’re concerned that you may have been targeted, please send us a private message or contact us at 13 30 30.”

The texts look like legitimate texts from the bank and may include a request to speak with a member of the general inquiries team.

AMP provides financial services such as wealth management and banking for approximately 1.5 million Australians, meaning hundreds of thousands of people may be targeted.

As many people use AMP for managing their finances, falling victim to this type of scam could result in huge losses.

The text messages are an example of fishing according to the Australian Competition and Consumer Commission’s Scamwatch.

“Phishing scams are attempts by scammers to trick you into giving out personal information such as your bank account numbers, passwords and credit card numbers,” Scamwatch says.

“Phishing messages are designed to look genuine, and often copy the format used by the organisation the scammer is pretending to represent, including their branding and logo.

“They will take you to a fake website that looks like the real deal, but has a slightly different address.”

According to Scamwatch, Australians have lost $2,403,235 to phishing scams in April 2023 alone, with 7449 reports made.

Text messages were by far the most popular type of phishing method, representing 47.3 per cent of reports.

To avoid these types of scams, watch out for a business asking you to update or verify your details through text or email, especially if the correspondence does not address you by your proper name or contains errors or grammatical mistakes.

Scamwatch urges Australians to not click on any links sent through text or email and to call the organisation through a number you already have to verify.

Originally published as AMP warns customers about phishing scam that could cost you thousands