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Protect Yourself from Scams and Fraud: Essential Tips for Online Banking Safety

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Scams and fraud are on the rise in Australia, with scammers becoming smarter in accessing money and personal information. While we are dedicated to safeguarding your funds, it is equally important for you to take proactive steps in protecting yourself from potential online threats.

To ensure your online banking remains secure, here are some practical tips to follow.

  1. Frequently Change Your Passwords: Your passwords are the first defence against unauthorized access. Regularly update your passwords and avoid using easily guessable information such as birthdates or common words. Opt for a strong combination of upper and lower-case letters, numbers, and special characters.
  2. Enable Two-Factor Authentication (2FA): Whenever available, enable 2FA for an added layer of security. 2FA requires a second form of verification, such as a one-time code sent to your phone, in addition to your password. This makes it significantly harder for scammers to gain unauthorized access to your account.
  3. Regularly Monitor Your Bank Accounts: Check your bank accounts for any unusual or unauthorized transactions. Report any suspicious activity to Reliance Bank on 13 24 40.
  4. Beware of Unsolicited Contact: Be cautious when receiving unexpected phone calls, text messages, or emails requesting personal details, especially if the sender claims to represent Reliance Bank or any other financial institution. Scammers often pose as legitimate entities to gain your trust. If in doubt, hang up or delete the message and call us on 13 24 40.
  5. Exercise Caution with Electronic Payments: Once you initiate an electronic payment to another bank account, the funds are beyond the control of your bank. Before making any transfers, double-check the recipient's details and ensure they are trustworthy.

It's important to note that Reliance Bank, including our Financial Crimes team, will never ask you to transfer money to another institution, disclose your online banking security codes, or request remote access to your device. If you encounter such requests, consider them red flags and call us on 13 24 40 immediately.