Protecting our customers from scammers remains our top priority. We continue to make significant investments in our fraud and scam prevention, detection, and response.
Below is the information we have provided to other media outlets regarding some of the things we’ve implemented:
- Placing our bank telephone numbers on the telecommunication companies’ ‘Do Not Originate’ register to help stop impersonation scam calls at their source.
- HSBC was permitted to join the Australian Communications and Media Authority (ACMA) Sender ID registry in January 2024. HSBC’s sender IDs are now protected under ACMA’s programme.
- Working with telecommunications companies to deploy SMS sender identification protection that prevents scam messages from appearing in HSBC message chains Engaging third-party providers to actively take down fraudulent numbers and websites
- To limit losses when customers are scammed into providing access to their accounts, we have removed the ability to change daily payment limits on our online banking and mobile banking app.
- Blocking payments to high-risk channels, such as some cryptocurrency platforms, to protect customers
- Increasing SMS warnings for payments over $500 Adding over 70 people to our fraud and scams team to investigate cases
- Materially increasing our scams and fraud education across all HSBC channels, including in-app messaging, in-branch signage, website banners, targeted texts and emails, and distributing media releases aimed at alerting our customers to emerging scam typologies.
