ANZ Warns of 'Scam-Coaching' Trend

ANZ has issued a warning to customers about a concerning trend in 'scam-coaching', where scammers train victims to evade bank security measures.

Scam-coaching involves long-term manipulation, with offenders building trust with victims over days or weeks to prepare them to lie, ignore warnings, or hide the true purpose of a transaction. This tactic can appear in various scam types, but ANZ has reported seeing it primarily in cases where victims are pressured into moving substantial sums of money into another account for a fake "investment opportunity".

According to ANZ scams lead Ben Verhoef, scammers use coaching techniques to undermine the protections banks have in place. They may instruct victims to assure the bank that there is no third party helping them with their investment, or that they have done their own research and know what they're doing.

The trend is observed in both branch and phone interactions, with some customers even receiving real-time instructions on what to say to bank staff. Verhoef emphasizes that scammers are skilled manipulators who work hard to gain a victim's trust, often convincing them to lie to bank staff if questioned about their transactions.

ANZ is urging customers to be cautious and honest with their bank staff, as being dishonest can lead to losing money. Verhoef notes that delays and intrusive questions from bank staff are a necessary part of protecting customers from scams.

| Scam Type | Description | | --- | --- | | Cryptocurrency investment scam | Scammers tell victims to assure the bank that there is no third party helping them with their investment, and that they have done their own research. |

To avoid falling victim to scam-coaching, ANZ advises customers to be aware of any instructions or scripts given to them by scammers, and to be honest with their bank staff if questioned about their transactions.