Please stay aware and report any suspicious messages that reference the incident. Scammers often take advantage of such events to distribute fraudulent messages. These texts may appear genuine and could even show up in the same message thread as legitimate communications from CommBank. Be suspicious of any message that asks you for sensitive information, or to complete tasks like updating software, or giving remote access via email or text.
Digital Banking
- However, sports betting is legal and regulated under the Interactive Gambling Act 2001, with many local sites licensed in the Northern Territory.
- Fraudulent messages are asking people to provide Optus and bank login details in order to allegedly claim compensation.
- While the messages may look legitimate, including links that appear accurate but lead to a fraudulent location, these are not from CommBank.
The initial sort order for each term deposit duration is the highest advertised interest rate for a specific term, followed by alphabetically by company name. You can find a description of the initial sort order below the table.You can use the selector to change the term deposit duration. This advice is general and has not taken into account your objectives, financial situation or needs. If you have multiple deposits—including term deposits—in businesses operating under the same licence you will only be covered up to a total of $250,000. Deposits of up to a total of $250,000 per account holder, per authorised deposit-taking institution (ADI) in Australia are protected under the Financial Claims Scheme. Some financial institutions may even offer a bonus on the interest rate if you already hold an account with them or meet other eligibility requirements.
Variations of a number of CommBank-themed phishing SMS messages are in circulation. This phishing message also attempts to create a false sense of urgency, by suggesting that the link provided is only valid for one day. This email informs recipients that they must update their personal details in order to use their NetBank account, due to the ‘COVID-19 virus’. Do not click on links within the email, or reply to the sender. A number of customers have reported receiving a fraudulent SMS that claims their NetBank access has been restricted. For more details about our KYC processes, visit commbank.com.au/KYCcollect.
May 2023 – Investment scam alert: Fictitious website impersonating CommBank
The majority of Australia’s online betting sites are licensed in the Northern Territory, although some hold multiple licenses. Australians fascination with betting on US sports does not finish at basketball, with online bookmakers reporting increased interest in the NFL, MLB and NHL. Australians truly are spoilt for choice when it comes to betting with online bookmakers, with our regulated industry among the most advanced in the world. They key to securing online bookmaker promotions is being a member, with it more likely you will be sent out offers via email, with some restrictions surrounding targeting non-customers with offers. Both online bookmakers run similar promotions on the NRL, which is another massive sports betting event in Australia, particularly in the northern states. Betfair is the only online betting exchange licensed to operate in Australia, which makes it a must-try for the discerning gambler who wants more options and maximum flexibility.
Fake online gambling sites might look legitimate and promise big wins, but they often won’t pay your winnings or let you withdraw any money you gave them. With a term deposit, the rate is fixed for the set term of the investment, and the investment outcome is typically highly predictable. But unlike term deposits, most high-interest savings accounts require you to meet certain conditions in order to accrue the higher interest on your savings. If you held $500,000 in two different term deposits, one with Westpac and one with St George Bank, only $250,000 of your money would be covered under the Financial Claims Scheme. That includes any term deposits you have with a listed financial institution.
The messages direct recipients to click a link regarding suspicious activities that have been detected on their account. We are aware of a number of SMS messages currently circulating that attempt to deceive customers into betting sites clicking on a link and providing credentials, such as NetBank IDs, passwords, PINs and token codes. Scammers will do anything to prevent a customer from contacting the legitimate financial institution or receiving a login to access their Term Deposit online. The premise of the messages is that the account has been locked pending verification of the requested details. There are a range of fraudulent messages currently in circulation that attempt to mislead customers into clicking on a link. The message claims that a booking will be cancelled if customers do not input credit card details through a provided link.
These fraudulent communications inform recipients that their NetBank has been, or will be, stopped or restricted if they fail to login by clicking on a malicious link within the email and updating their details. The messages claim the recipient needs to take action to put a stop to suspicious activity or investigate further. A number of CommBank-themed phishing messages are currently in circulation. It has come to light that scammers are using the Optus data breach to scare and scam customers. CommBank urges you to please Stop, Check and Reject if it is not legitimate, when considering any investment opportunity. Furthermore, these scams often require urgent payments to be made to third party accounts.
Report suspected scams to your financial institution immediately. Be wary of unsolicited contact, avoid clicking on links and always verify the legitimacy of the organisation offering assistance or requesting donations. We will not ask you to verify transactions via a link in an email or SMS message. They may claim you can earn money by completing simple tasks such as liking or following Instagram accounts or transferring funds in exchange for a commission. We are aware of several phishing scams reporting to be from ‘AusPost’ requesting you click on a link for an undelivered package or to rearrange delivery.
The letters instruct recipients to transfer funds to a “secure account” to protect their assets. These letters use ASIC branding and formatting to appear legitimate and claim that bank staff are under investigation. If you receive a suspicious message or email with an urgent call to action, remember to Stop, Check, and Reject. Always do your research and contact organisations directly using details from their official platform. If you’re unsure, speak to someone you trust—and never send money to someone you haven’t met in person.
The links within the articles take you to a fake, non-CommBank domain to complete the survey and register. Scammers have recently published links on social media to fake articles exploiting the Commonwealth Bank brand. To be safe, always navigate directly to NetBank yourself and only log on to a site you know to be genuine, rather than using any links in communications. The caller will impersonate the member of staff at a financial institution, sometimes using the details of a real bank employee stolen from a Linkedin profile.
In return, you earn a fixed rate of interest on your invested money. It’s important to be aware, though, that you may be offered a different interest rate on the new term, which could be lower. This means the investment return over time is harder to predict. The interest rates on savings accounts are generally variable as well, which means they could change at any time based on economic conditions. This is because not all providers follow the rule that longer term periods mean higher interest rates.
Compare the highest term deposit rates – April 2026
Using illegal gambling sites means no protection under Australian law. Offshore gambling operators are not allowed to offer services to Australians. It must be on the register of licensed interactive gambling providers to operate in Australia.
The best online bookmakers in Australia have got betting markets on everything from domestic sports and racing events, right through to international fixtures and tournaments. If you think you or someone you care about may need financial help with staying in control of their gambling spend, discover how we can help. You can find more details about fake gambling websites, including a list of blocked sites, on the ACMA website at protect yourself from illegal gambling operators.
Check current rates and product details with the product issuer. Issuers and distributors of financial products must take reasonable steps that are likely to result in financial products reaching consumers in the target market defined by the product issuer. We also reveal which providers have the most satisfied customers in our dedicated Customer Satisfaction Awards.
Bet365 has over 80 million customers worldwide for a reason – it’s very hard to find fault with this betting site. We’ve extensively tested and reviewed the best online betting agencies available to Australians and recommend the following options. Under the Interactive Gambling Act 2001, any online betting site must hold an Australian license – unlicensed offshore sites are banned. A sports journalist and betting expert with a wealth of experience in the production of sports gambling content for major news outlets in Ireland and the UK. Get instant help from Ceba in the CommBank app or connect with a specialist who can message you back. Where you can get a ‘big picture’ overview of your finances and explore all the day-to-day details too.
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