Grandmother customer loses $750,000 in ANZ account to scam
- Aussie grandmother Jane scammed out of $750,000
- She was directed to transfer funds to a fake account
- ANZ & NAB said there was nothing they could do
- READ MORE: ANZ customer loses $460,000 to scammers
An Aussie grandmother has been scammed out of $750,000 after accidentally sending money to a fraudulent bank account.
Jane, who has been an ANZ customer for nearly 50 years, has taken aim at the banks after losing the huge sum of money.
The grandmother had sold her home and was trying to transfer money to an ING account for a better interest rate.
But instead she was directed by scammers to transfer the funds to a fraudulent NAB account.
Jane contacted ANZ and NAB after realising what had happened but was told by both banks that her money was lost and there was little they could do to retrieve it.
Aussie grandmother Jane, who has been a customer from ANZ for nearly 50 years, has lashed out at the banks after being scammed out of $750,000 (stock image)
Jane says she has since lost trust with the banks as a result of the incident.
‘I used to have ultimate faith in the banking system,’ she told 7News.
‘But my money would have been safer under my mattress.’
Her daughter, Sarah, recalled feeling ‘awful’ that her mother ‘had been a victim of such a massive crime’.
Jane was later offered $1,000 by ANZ as compensation.
Aussies who have been scammed are advised to contact their bank immediately.
However there is little banks can actually do in retrieving lost funds.
Bank customers are not protected by law in Australia when it comes to scams.
This is unlike countries like the UK where from next year new laws will force banks to reimburse victims of scams within days, unless the person acted negligently or fraudulently.
Consumer Action Law Centre CEO Stephanie Tonkin believes Australians have been left wide open to scams because of a lack of regulation.
Jane was trying to transfer money to an ING account for a better interest rate but was directed by scammers to transfer the funds to a fraudulent NAB account (stock image)
‘We’ve dropped the ball because we don’t have any form of strict regulation that says who is responsible,’ she told the network.
She has previously called for the adoption of stronger laws to protect customers.
‘It can’t be incumbent on consumers to be the ones having to report the scam — what’s needed is for the bank to invest in measures to prevent scams before they reach the consumer,’ she told the ABC earlier this year.
‘The UK, which is years ahead of us, has identified that reimbursement by banks (is) the right approach to actually tackle scams, so we’ll be pushing very strongly for this to be included in the code of practice.’
In April, a report by the ACCC revealed Australians lost $3.1billion to scams in 2022, prompting the federal government to commit $86.5million to tackle online fraud.