The bank that is not your bank
The Law Society’s Trust Account Department has seen a significant escalation in scammers calling, emailing or messaging lawyers and pretending to be from their bank. The scammers use technology to make a call appear to come from the bank’s phone number.
- Your bank will never ask over the phone for online banking passwords, one-time security codes, PINs or tokens.
- Contact your bank separately using your banking app or a number from the bank website, a statement or a card.
Facts and sources for this part
- The Law Society’s Trust Account Department has seen a significant escalation in scammers calling, emailing or messaging lawyers and pretending to be from their bank, using technology to make the call appear to come from the bank’s own number. [S8]
- The Law Society says your bank will never ask you over the phone for online banking passwords, one-time security codes, PINs or tokens. [S8]
- It advises contacting your bank separately using your banking app, or a phone number from your bank website, bank statement or bank card. [S8]
The code-reset trick
In a reported case, property professionals were told a trust account payment had been blocked and the account needed a reset. The scammers asked for a code and used it to withdraw funds from the trust account.
Facts and sources for this part
- In a reported case, property professionals were told a trust account payment had been blocked and the account needed a reset; the scammers asked for a code and used it to withdraw funds from the trust account. [S9]
A cloned client voice
A reported scam used the voice of a client, probably AI-cloned, in a call to a law practice, and directed the firm to pay over $1 million from a deceased’s estate into the scammer’s bank account. A familiar voice is not proof.
Facts and sources for this part
- A reported scam used the voice of a client, probably AI-cloned, in a call to a law practice, and directed the firm to pay over $1 million from a deceased’s estate into the scammer’s bank account. [S9]
What to do
- Never read out a one-time code.
- Ring back on a number from your own file.
- Ask a challenge question only the real client could answer, and have a second person approve large payments.
Facts and sources for this part
- The Law Society says your bank will never ask you over the phone for online banking passwords, one-time security codes, PINs or tokens. [S8]
- The Law Society recommends that a practice telephone the client using details already on file, not those in the payment-instruction email, to confirm the instruction, BSB and account number before making large payments. [S9]