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Fighting back

Fighting cyber crime

The Australian Bankers’ Association (ABA), its member banks, State and Federal police are working closely to tackle the problem of cyber crime. Bank staff are seconded to the Australian High Tech Crime Centre (AHTCC) as part of a new team to continue the fight against fraud that occurs online. They are providing analytical assistance to police who will use this information to identify and prosecute criminals.

Banks work closely with State, Territory and Federal police to prosecute criminals who misuse customers’ personal information or commit cyber crime. Each State and Territory jurisdiction has a range of offences, which cover identity crime, including the unlawful possession of documents, operating accounts in false names and obtaining monies by deception. The penalties vary across each State and Territory but include large fines and incarceration, in some circumstances for up to ten years. Banks also work closely with other organisations such as the Australian Crime Commission and the anti-money laundering regulator, AUSTRAC.

Staying informed

Banks now post information about the latest scams on their websites. And the Australian Securities and Investments Commission (ASIC) have a section on scams on their website at



This website gives information of a general nature and is not intended to be relied on by readers as advice in any particular matter. We suggest that you consult your financial planner on how this information may apply to your own circumstances.