Fake articles about Australia’s largest bank – the Commonwealth Bank – were spread on social media, including Facebook (NASDAQ:FB). The scam lured users to a hacked website, where their personal data and funds got stolen.
The initial fake articles were portrayed as a story on the Australian Broadcasting Corporation, stating that the bank signed a partnership with a crypto exchange platform, later encouraging people to invest in cryptocurrencies through this exchange.
The Commonwealth Bank first denied the news and tagged them as false claims, asking media publications to delete the content. Then reported the offense to local authorities.
The bank released an official statement, warning customers not to click on the fake article’s links. Also, the report reminded that the bank never asks customers for personal data via email or phone calls.
This is not the first time an Australian bank falls victim to a scam. Last year, various SMS and email phishing links were sent to clients pretending to be the bank to steal funds.
Also, the previous year, the CBA achieved a milestone – the bank partnered with Gemini to become the world’s first high street bank to allow customers to trade digital assets.
On The Flipside
A lawsuit was filed against Meta (Facebook) by the Australian Competition and Consumer Commission (ACCC), charging the tech giant as it “aided and abetted or was knowingly involved in fraudulent or misleading behavior and statements by the marketers.”
