Keeping safe from scams and banking fraud

Scammers are duplicating our TSB phone number to call customers, pretending to be from TSB. They are also directing people to a fake Google business listing titled ‘Tsb bank - Taranaki’ to confirm our 06 phone number that they are currently duplicating and using for fraudulent purposes.

Here’s what we will never do. We will never:

• Ask for your online banking or TSB app login details or for remote access to your device. 
• Ask you to transfer any of your money to a ‘safe’ or ‘secure’ account.
• Ask you to check our TSB business details on Google under ‘Tsb bank - Taranaki’.

If in doubt, hang up and call us back on 0800 872 226. You are not obligated to answer any questions or stay on the phone if you don’t feel comfortable doing so.

Currently for online payments, if the payee’s name entered doesn’t match the name on the account being paid, banks will still transfer the funds. 

Scammers use this to trick people into transferring money for a supposedly legitimate purpose (e.g. ‘ABC Charity’) when the account is actually used for fraudulent purposes (e.g. owned by a scammer).

The New Zealand Banking Association is working with NZ banks to implement a ‘confirmation of payee’ service from the end of 2024. Confirmation of payee should help anyone making an online payment from one bank account to another to check the name of the account they are paying to make sure it’s the right person or company. The service will also need to comply with privacy law and banks’ obligations to protect customer confidentiality.

We rely on customers to give us the correct account number for the person or organisation receiving a payment. Please note, we are unable to review details customers give us, for example checking the account name matches the account number.

Make sure you double check the payment details before making an online payment from your bank account. Check the account number is correct and the person or organisation you’re sending the money to is genuine.

Recovery scams are when criminals contact someone who has lost money due to a scam and claim they can recover the lost funds. They’ll ask you to pay an upfront fee for their help. This is simply another scam. Please be careful about who you discuss a fraud case with.

There are many text message scams going around right now. The ones that trick people are day to day messaging about bank accounts, tolls, car registration or courier packaging. 

They ask recipients to click on a link to complete an ‘urgent’ action.  

If you unexpectedly receive a message like this, don’t click links or attachments, and don’t engage. Check directly with the business on their publicly available number if you’re unsure.  

You can report text messages for free by forwarding them the Department of Internal Affairs on 7726. 

Once reported, block the sender and delete the message.   

Investment scams are on the rise. Often scammers will contact people by cold calling or messaging via text or social media claiming to be a broker or account manager. Scammers also place ads online that appear when you search for investment opportunities.  

Recently there have been many cases of scammers pretending to be from legitimate financial service providers, particularly in for cryptocurrency, clean energy bonds, and term deposits. The FMA publishes a list of current scam warnings and alerts on their website.

Keep yourself safe from investment scams:  

• Don’t respond to unsolicited investment offers.  
• Do your due diligence – check the FMA website to see if the company is licensed and registered. 
• Consider the offer being made – if it sounds too good to be true, it probably is. 

A fake TSB investment prospectus is being sent using TSB branding. Scammers may be using identities of TSB employees in emails and are asking recipients to open a term deposit account. This is a scam and you should immediately cease communication if you receive this email. Please report to us at report@tsb.co.nz   

Fraudulent TSB website

We have been made aware of a company called Private Citizens Bank using the address “p-citizens.com” that is fraudulently using our former TSB website interface and branding. This website appears to offer banking, money lending, stock trading, and other similar financial services. This has no affiliation with TSB, and using this company’s services may put your personal data and security of your device at risk.  

TSB smishing scam

We are aware that a smishing scam is targeting people with an SMS purporting to be from the TSB Fraud Team. The message asks the recipient to confirm a payment, and to contact “our fraud team” on 09 871 3833. This is a scam, so if you receive this message, do not engage. You can report text messages for free by forwarding them to the Department of Internal Affairs on 7726. Once reported, block the sender and delete the message.  

There is a SMS phishing scam currently targeting TSB customers. The SMS says your account access has been temporarily suspended due to a new payment, and to follow a link to reactive it. Remember, TSB does not contact you via SMS asking you to click links, provide your security credentials (including passwords or PINs), or to download remote access apps onto your device(s).

Scam emails asking for your bank or log-in details can look like the real deal. Known as ‘phishing’, fraudsters use them to try and get hold of your details. They often include a link to a fake website, where you’ll be asked to enter your details. Even just clicking the link could activate a virus, so don’t open it, hit delete.

Fraudsters use all sorts of cons over the phone and it’s sometimes difficult to tell the difference between a cold call trying to sell you something and a scam. Never give your details to callers, however genuine they seem – and don’t be afraid to hang up and call the company back on their official phone number.

Scammers often send texts with malicious links to install malware on your device or prompt you to enter your personal information. If you unexpectedly receive a message, don’t click links or attachments, and don’t engage. Check directly with the business on their publicly available number if you’re unsure. You can report text messages for free by forwarding them the Department of Internal Affairs on 7726.  

Social media scams are usually cunningly crafted by a scammer to appear genuine, using official brand logos, made up terms and conditions and include a link to enter your details.  Clicking on these links sends your personal information to third parties. If it’s too good to be true, it probably is.

Investment scams involve getting you or your business to part with money on the promise of questionable financial opportunity. Investment scams can come to you via a phone call, email or social media. In all investment scams, the money you ‘invest’ goes straight into the scammers bank account, not towards any real investment.

Scammers will take advantage of people looking for romantic partners, often via dating websites, apps or social media. Dating and romance scammers will express strong emotions for you in a relatively short period of time. Once they have gained your trust, they will ask you for money, gifts or your personal data.

No one wants to believe that a trusted family member or friend would ever scam you but children, siblings and even parents are known to steal credit card account numbers. 

It can be as simple as family members making purchases without your knowledge.

Seniors are at greater risk of financial abuse. Someone may steal your money or property, fail to repay money you’ve lent them, or force you to give them money or sell your property for their benefit. Financial abuse might be unintentional, or explained away as ‘for their own good’.

Many people have found themselves losing money every year by not reading the fine print of free trials. When it comes to signing up for a free trial, if a company requires you to provide them with your credit card number before the first shipment goes out, it can be a red flag that shows they intend to charge you in the future.

Identity theft is when someone fraudulently uses another person’s identity. A fraudster may use your identity to gain access to your bank account, or to get credit such as a home loan, or credit card in your name.