Cyber criminals are using convergence scams to steal personal information from customers, often involving stolen data or a combination of digital theft and physical-world exploitation. These scams are not unique to Australia but are part of a growing pattern across the country. The most common type involves a call from someone claiming to be your bank, who knows your name, bank, and credit card number. They send you a one-time passcode to verify your identity, often by reading out a code that authorizes a transaction using your own card details. The system-wide failure surrounding these scams makes them even more alarming. To protect against convergence scams, individuals should never share a one-time passcode or security code over the phone, call the bank directly using the card number, and reassess their policies and procedures.
