Questions & Answers About Scams

1. How do I know if I have received a scam e-mail or phone call?

The Reserve Bank of Australia is aware that scammers often use the details of the Bank to make their scams seem more realistic. While not limited to these methods, scammers can use the Bank's details in various ways, including:

  • You may receive an unsolicited phone call (from someone claiming to be from the Bank) requesting personal or financial information, or to participate in a bank survey.
  • You may receive an e-mail advising that you have won or inherited a large amount of money (usually from overseas) and that you need to pay a fee to release the money from the Bank. Please be advised that the Bank will never ask you for money to allow the transfer of personal funds into or out of Australia.

Please check with the Bank's External Communications team on +61 2 9551 8111 if you are unsure about the legitimacy of your e-mail or phone call.

2. Where can I get more information on scams?

The Australian Competition & Consumer Commission's (ACCC) Scamwatch website and ASIC's MoneySmart website contain detailed information on scams and how to avoid and report them.

3. What to do if you have been scammed?

We urge you to immediately stop corresponding with the suspected scammers and report the scam to Scamwatch. We also suggest that you contact your bank immediately if you have provided your financial details or recently transferred money.

Visit ACCC's Scamwatch website for more detailed information on action you can take after being scammed.

4. Will I get my money back?

Unfortunately, it is extremely difficult to recover money that has already been transferred to scammers. This is because it is often very difficult to track down the person or group that has scammed you. Information on recovering your losses can be found on ACCC's Scamwatch website.

5. How can I prevent being scammed in the future?

Tips on how to avoid being scammed can be found on ASIC's MoneySmart website and the ACCC's Scamwatch website.