Beware of emails or messages asking for banking details

Online banking has become increasingly common over the years, but unfortunately, so have phishing attacks. It is very important to secure your bank account details, because instances of phishing attacks are one of the most common scams reported to the Australian Competition and Consumer Commission.

Phishing refers to attempts on the Internet as well as on the mobile, to trick people into revealing their personal as well as financial information such as passwords, ATM pins or Internet banking codes.

This was the second most common type of scam reported last year according to ACCC's 2014 report on scam activity. Out of the 12,982 contacts relating to phishing scams, 288 actually reported losses. In 2014 $82 million was reported lost – eight per cent less than the previous year.

While the direct losses reported from phishing were relatively lower than other scams such as fraudulent dating or investment scams, the ACCC warned that cyber scams often result in the information gathered being used for other frauds at a later time.

To secure yourself from phishing attacks, you need to be wary of any messages asking you to reveal your personal or banking details. These mails or messages pretend to come from legitimate businesses - usually banks, other financial providers or telecommunications companies that you would normally to trust.

^See information about the Mozo Experts Choice Credit Card Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.