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Elder Abuse: Have a conversation about financial harm The Australian Banking Association (ABA) and Council on the Ageing (COTA) Australia are urging older Australians, their families, friends and carers to have conversations about how to better protect themselves from scams and financial abuse this Elder Abuse Awareness Day. ABA CEO Anna Bligh said older Australians were more likely to be susceptible to financial abuse or the target of scams. “Unfortunately, every day banks see elderly people in our community fall victim to scams,” Ms Bligh said. “Older Australians have worked hard for their savings, and they deserve to feel safe, respected and in control of their finances. “Banks are very active and working around the clock to help keep customers safe from financial harm, however having conversations with loved ones about how to better protect yourself can go a long way too. “Having conversations about scam warning signs and putting in place practical safeguards such as updating and varying passwords or enabling two step verifications can also help to keep older Australians safer. “When it comes to financial abuse, it’s vital people know what it might look like, how it might occur, and have the knowledge of what action they can take if they see it happening or are a victim themselves. “Banks are highly alert to the warning signs of elder financial abuse, train their staff to recognise red flags and have specialist teams that can respond and support victims.” COTA Australia Acting CEO Corey Irlam said no older Australian should live in fear of their finances being taken over or misused by anyone, including someone they trust. “Financial elder abuse is far more common than people realise, and sadly, it can sometimes start with a trusted family member, carer or friend,” Mr Irlam said. “Financial independence and confidence are key to ageing with dignity. “A simple conversation with an older relative or friend might not only help them increase their understanding of financial abuse, but also their confidence when banking, particularly online. “Increased confidence may support older people to recognise potential financial crimes, including scams or fraud and assist people to seek support if they are being subject to abuse. “It’s time we stop treating elder abuse, including financial crimes against older people, as a private matter – it’s a serious issue that deserves urgent national action.” The ABA and COTA are calling for stronger national safeguards to protect older Australians, including: Harmonisation of Enduring Power of Attorney arrangements across all states and territories A national register of power of attorney instruments A designated body that can receive and investigate suspected elder abuse.

Exciting News! We’re thrilled to introduce a feature you’ve been asking for: the ability to adjust your daily transfer limits directly through Online Banking or the Horizon Bank App! Now, you can set daily limits for each transaction type, including external transfers, international transfers, NPP (OSKO), and BPAY. Whether you need to increase your limit for a big purchase or lower it for added security, you’re in control! Click here for more information

October is Cyber Security Awareness Month and an annual reminder for all Australians to stay secure online.  Here are 4 simple steps that can help you improve your cyber security: Turn on multi-factor authentication.  Keep your devices and software up to date. Use strong and unique passwords, such as a passphrase. Recognise and report phishing. We encourage you to take the time to talk to your family, friends and colleagues about cyber security and take action to secure your devices or accounts from cyber threats.  You can find more information here. 

Received a text message from LINKT Toll? Stop and think, don't click the link! Australians are being warned to be alert for text messages that appear like this:- LINKT - Reminder: You have an unpaid toll notice overdue for over 30 days. Please arrange payment immediately to avoid E-tag cancellation.Then it goes on to show a website. Scammers often try to gain trust by claiming to be from a well-known business or impersonating someone you may know. The SMS would normally contain a link to the thief's website which may appear to be legitimate but is really not. This is called a phishing website. These types of website attempts to trick you into giving out personal information such as your bank account details, passwords, codes and credit card numbers. Even if you think the text is real, it's safe not to click on any links and log into your account using the company's website URL instead. STOP – Never click on links in texts or emails. Don’t give money or personal information if you are unsure. Scammers will create a sense of urgency, such as telling you your parcel could not be delivered. Don’t rush to act. THINK – Ask yourself if the message could be fake? Scammers pretend to be from organisations you know and trust. Download the official app and turn on notifications to be confident the message is real. PROTECT – Act quickly if something feels wrong. Contact your bank immediately if you lose money. Report scams to Scamwatch. What to do if you have been scammed If you have lost money, contact your bank or financial institution immediately. You can also report to police via ReportCyber. Be aware of other scams which may occur after a loss of personal information. Contact IDCARE on 1800 595 160 if you have provided scammers with your personal identifying information such as drivers licence or passport. Report scams to Scamwatch Learn more about scams