The ABA has been informed by member banks that the fraudsters are using at least two methods to attempt to defraud customers:

1. A customer receives a call and the caller claims that under the proposed fees class action the customer is entitled to receive about $2500 back in fees. In order to get this refund, they have been instructed to send $150 via Western Union to India. This suggests that scammers have a false identity set up in India to collect the funds.
2. A customer receives a call and the caller claims that under the proposed fees class action they are entitled to a fee refund and are asked to provide their credit card number and expiry date and/or their Internet banking login and passwords. The request for credit card details suggests the criminals intend to use the card for fraudulent means such as purchasing goods or services or accessing cash advances.

In the telephone scams, the fraudsters have purported to be from a bank, a company called ‘Reclaim Limited' or from the ‘Justice of Taxation'. The criminals claim to have the customer's full name and address details, date of birth and/or driver's licence number.

Steven Münchenberg, Chief Executive of the ABA, said: "The banking industry is very concerned about any attempts by fraudsters to defraud bank customers. As with any of these scams, we urge customers not to provide their bank details over the phone, Internet or though e-mails."

"Clearly these fraudsters are seeking to obtain customer information so that they can defraud customers' bank accounts. If anyone has received a call such as this and provided information to the criminals, then they should contact their bank so it can take immediate action to protect the bank account."

"We believe that the litigation funder, IMF, and its subsidiary, Financial Redress, also have a responsibility to warn consumers about these scams, given the criminals are using the possible class action as cover for these scams," he said.