Anyone can be a scam target
The scam landscape has shifted. Being young or digitally savvy no longer reduces your chances of being targeted.
While older Australians were once the primary focus for scammers, today they cast a much wider net, and anyone, at any age, can fall victim.
Social media has become a key channel for targeting younger people, often through fake opportunities, impersonation attempts or requests for personal information.
Between 2021-2025, Australians reported losses of over $11B1, and Australians aged 18- to 34-year-olds reported more than $40m in scam losses to Scamwatch in 2025 alone.2
Know a scam when you see one
Understanding the common tactics scammers use can help you recognise warning signs early and protect yourself before money is lost.
1. The Bank Impersonation Scam
This is where scammers pretend to be from a legitimate financial institution, such as Ubank. They’ll generally want you to take action immediately and may ask for personal details to fix a problem they claim exists.
The hook: Urgent requests, links sent by text message and unexpected requests for one-time-passcodes (OTPs).
The give away: Pressure to move money immediately or warnings of consequences if you don’t act.
2. The Investment Scam
These come in the form of investment opportunities, often via social media, and promise high returns with very little risk. They often feature cryptocurrency or “guaranteed returns”.
The hook: Pressure to act fast or “buy in” before it’s too late, unfamiliar accounts, guaranteed profits.
The give away: Investments shouldn’t guarantee returns with no risk, check if an adviser is legitimate on ASIC’s professional registers.
3. The Recruitment Scam
These can be job offers that promise high pay, flexible hours, and the chance to work remotely. They’re usually advertised online, with the job available immediately.
The hook: Pressure to provide personal info and bank details early in the process, or requests for payments for training or background checks to move your application forward.
The give away: Legitimate employers usually won’t ask you to pay to get hired or require your personal bank details before a proper employment offer.
4. The Phishing Scam
Messages, emails or calls that mimic government agencies, social media platforms, delivery companies or utility providers to trick you into sharing information or making payments.
The hook: Time-sensitive requests to pay fines, tax debts, fake delivery notices or update account details.
The give away: Be cautious of unexpected, urgent contact asking you to update passwords, PINs or share one-time codes.
Stop, Check, Protect
These three words can help you stay safe whenever something feels off.
Stop – Scammers use urgency to force you to make quick decisions. The best thing you can do in any pressure situation is to stop and think. Take a pause before doing anything further or sending any money.
Check – Now’s your chance to do some background research. Do the links or websites you’ve been sent look legitimate? Does anything feel off? If you receive a message that claims to be from Ubank and you’re in doubt if it’s genuine, contact our team directly.
Protect – If you’ve transferred any money or shared details related to your Ubank account already, contact Ubank ASAP to report it. The sooner you can tell us what happened, the sooner we can investigate and try to stop any fraudulent transaction or recover lost funds.
Features that can boost your security
In addition to staying vigilant, Ubank offers built-in security features plus optional tools you can enable to strengthen your protection.
Passkeys
To switch on the best security with your Ubank online banking, you can activate passkeys. This advanced level of login encryption is a more secure way to keep your money and account safe. To activate passkeys, you can follow the steps on our website.
Confirmation of Payee
Before you send money using your Ubank account, Confirmation of Payee checks whether the account details you’ve entered match the recipient bank’s records. This is a chance to cross-check where your money is actually going, and that the names and organisations match up. A great way to flag a suspicious payment before it happens.
Push notifications
Enable push notifications in the Ubank app to stay across any money leaving your account. It’s an easy way to keep track of transactions in real time.
Let’s break the stigma around scams
One of the biggest barriers to scam safety is silence. Many people feel embarrassed or ashamed after being targeted, but scammers rely on these feelings to keep their tactics hidden.
In reality, scammers exploit human psychology and trusted systems. Anyone, at any age, can fall victim in the wrong moment.
Sharing your experience helps break the stigma and sheds light on the scams currently circulating, helping protect others from being affected.
If you’ve been targeted, had a near miss, or know of a scam others should be aware of, you can report it directly to the Australian Government’s Scamwatch page.
The more people share their stories, the more everyone benefits.
A final note on scams
Staying vigilant is one of the best ways to protect yourself against scams.
To stay up to date on scams, head to Scamwatch or explore our security page for more information.
And if you think you’ve been affected by a scam involving your Ubank account, contact our team as soon as possible.
—
1 National Anti-Scam Centre, Targeting scams report (March 2026), p 3
2 Scamwatch Scam Statistics, filtered for under-34s, June 2025 to June 2026
