Your bank calls saying "move your money to a safe account" — it is Australia's top APP fraud
A caller pretending to be from your bank's fraud team says your account has been hacked and you must transfer all funds to a "safe account" they've set up. Once you send by Osko or PayID, the money is gone. Real Australian banks never ask customers to transfer money to a new account for safety. This is the most-reported form of Authorised Push Payment (APP) fraud in Australia.
Also known as: safe account scam AU, authorised push payment fraud Australia, APP fraud Australia, fraud team impersonation call, Osko / PayID transfer scam
Already happened to you? Do this in the next few minutes
- 1 Call your bank or card's fraud line right now. Use the number on the back of your card — not any number from the message or caller. Ask them to stop or reverse the payment and freeze the account.
- 2 If you paid by gift card, wire, or an app (Zelle, Venmo, Cash App): contact that company immediately and report it as fraud. Acting fast sometimes recovers the money.
- 3 Report to the FBI at ic3.gov and the FTC at reportfraud.ftc.gov. The sooner, the better.
What to do right now
- 1 Hang up immediately. Real banks never ask you to move money to a safe account
- 2 Wait 5 minutes then call your bank on the number printed on the back of your card, using a different phone if possible (scammers can keep the phone line open)
- 3 If you have already made a transfer, call your bank now — some Australian banks now reimburse APP fraud victims under the Scam-Safe Accord
- 4 If money was sent by PayID or Osko and you report within hours, the receiving bank can sometimes freeze the funds before withdrawal — speed matters
- 5 Do not trust caller ID — scammers can display any number, including your bank's real number
- 6 Check the Confirmation of Payee name on any transfer before you send — if the account name doesn't match who you think you're paying, stop
- 7 Report to Scamwatch at https://www.scamwatch.gov.au/report-a-scam or ReportCyber at https://www.cyber.gov.au/report.
Red flags
- ⚠ A caller claims to be from your bank's fraud team and says your money is being stolen right now
- ⚠ They tell you not to hang up and not to call the bank back — real banks always let you hang up and call them on the number on the back of your card
- ⚠ Caller ID displays your bank's real name and number — this is spoofing, not proof of authenticity
- ⚠ They ask you to transfer money to a 'safe account' (also 'holding account', 'safeguard account') — no such thing exists at any Australian bank
- ⚠ They coach you to lie to your bank if the bank calls to challenge the transfer, or tell you to say the payment is for family or property
- ⚠ They may use a fake AFP officer or ASIC officer on the line to reinforce the urgency
Known variants
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'Bank + AFP duet' variant: after the fake fraud team call, a second caller pretends to be from the AFP or ASIC to reinforce urgency. Both are the same criminal group. The victim's account is described as being investigated in a large money-laundering probe.
Last seen: 5/15/2026
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'Courier + card collection' variant: caller says the victim's card has been cloned and a courier will collect it as evidence. A person arrives at the victim's door in a hi-vis vest, takes the card, and the victim has already said their PIN aloud during the phone call. Predominantly targets elderly Australians.
Last seen: 6/1/2026