In an age where our personal information is as valuable as currency, the nightmare of falling victim to a sophisticated bank account scam is a chilling reality.
Take the case of Tanya Owens, a Brisbane woman, who found herself in such a nightmare when she was targeted by a relentless scammer, leaving her working a second job and in debt.
It all began when she received a phone call from a man named Ryan posing as a helpful Scamwatch fraud department agent. Ryan deceived her into a false sense of security by telling her he knew her address, birthday, and the banks and online accounts she banked with.
The scammer told her that her phone was being hacked, directing her to download a remote access software called Zoho Assist.
‘I had no idea what damage this app was doing to my phone at the time. It had literally mirrored my phone and they had changed the operating system and did all kinds of stuff in the background,’ she said.
Because of the scam, Owens’s life savings of $6,500 had been transferred from her Great Southern Bank account to an unfamiliar account at People’s Choice bank, using her name as the recipient – when she had never made an account in that bank.
After the fraudulent bank transfer, her ordeal continued with a barrage of 25 calls in just over 30 minutes as the scammer tried to keep Owens entangled in his web of deceit.
The scammer bombarded Owens with frantic text messages, pressuring her to act quickly to ‘regain’ her funds.
‘What is wrong with you [T]anya? To whom are you speaking right now,’ the scammer wrote in one of his texts.
After two more phone calls, the scammer sent Owens more messages.
‘Mam u need to understand just cz (sic) of ur (sic) suspicious behaviour you will lose the funds out of your account. Right now I am the person who can initiate the money regund (sic) back into your account,’ the scammer texted her.
Meanwhile, $12,000 was also spent in fraudulent transactions using Owens’ credit card.

The scam highlights a significant gap in the banking system’s defences against fraud.
Despite a $100 million commitment from banks to implement a confirmation of payee system, which would prevent money transfers if the recipient’s name does not match the account details, the technology is still not in place.
Owens’s story is not just a cautionary tale but also a rallying cry for change. She has thrown her support behind the People Before Profit campaign, urging the federal government to mandate that banks compensate scam victims, similar to legislation introduced in the UK in October of last year.
The psychological toll of the scam on Owens was immense.
‘I was effectively held hostage. I could not make a move they did not realise,’ she said, adding, ‘I had no sleep overnight, I had not eaten or drunk, I was just fr*****g out.’
‘It messes with your head. You think you deserved this, you should have known better, you are an i**** as you fell for it.’
Despite eventually regaining the stolen funds through her credit card companies, the bank refused to refund her lost savings, reportedly blaming her for the loss. This response only added insult to injury for Owens, who had been a customer for 25 years.
‘Great Southern said [I] effectively gave access to my accounts, so it is on [me]. If I actually gave the scammers the one-time password verbally that might be the case but I did not actually give it to them. But sadly I gave them access to my phone and they were deleting text messages that I had no idea they got,” she said.
The Australian Financial Complaints Authority (AFCA) is currently processing her complaint.
Meanwhile, Great Southern Bank, said, ‘We understand the distressing impact of scams and are deeply sorry to hear this customer has been impacted by scam activity. Great Southern Bank is focused on both preventing scams and supporting customers when incidents occur.’
The 44-year-old’s experience serves as a stark reminder of the dangers lurking in the digital world and the need for increased vigilance and improved security measures by banks.

Here are some tips to help protect yourself from similar scams:
1. Be sceptical of unsolicited calls, especially those claiming to be from your bank or a government agency like Scamwatch.
2. Never download software or apps at the instruction of someone over the phone unless you have independently verified the request.
3. Always verify the identity of the caller by hanging up and calling your bank directly using the number on their official website or the back of your bank card.
4. Keep an eye on your bank accounts regularly and set up alerts for unusual activity.
5. Educate yourself on the latest scams by visiting the Australian Competition and Consumer Commission’s Scamwatch website.
Remember, your personal information is precious, and in the wrong hands, it can wreak havoc on your financial well-being. Stay alert and informed. Do not hesitate to reach out for help if you suspect you have been targeted by a scam.
We invite you to share your experiences or concerns about bank account scams in the comments below. Your insights could help others in the YourLifeChoices community avoid the same fate.
Also read: Australia becomes ‘honeypot’ for scammers: Are your savings at risk?