ANZ Bank Fiji has issued a strong warning to businesses regarding the increasing prevalence of cyber scams, including deceptive invoices and online fraud, which are increasingly affecting the Pacific region. At a recent cybersecurity event, Rabih Yazbek, the ANZ Country Head for Fiji, shared alarming case studies, including one incident where a company lost over $100,000 due to a manipulated invoice. The email from the supplier was intercepted, resulting in a switch of bank account details that led to the fraudulent transfer.
Yazbek expressed appreciation for the establishment of Fiji’s Cyber Emergency Response Team but emphasized that further measures are essential. He highlighted the importance of enhancing the capabilities of the Criminal Investigation Department (CID) to ensure effective prosecution of these scams. The bank’s commitment to raising public awareness about cyber risks was reiterated by Eli Hirschauge, the Head of Information Security, who underscored the necessity of better coordination among government agencies and telecom providers.
The bank warns businesses and the public to remain vigilant against online investment scams, especially those proliferating on social media platforms that promise unrealistic returns. This alert comes in the wake of similar warnings issued during the holiday season, where scammers were noted to exploit the distractions of festive activities to prey on individuals’ naivety.
Eli Hirschauge emphasized that many scams originate through improper email channels or SMS, further underscoring the importance of public vigilance in recognizing such threats. The proactive approach taken by ANZ fosters a culture of safety and preparedness within the banking community, providing hope that through education and awareness, businesses and individuals can protect themselves against evolving cyber threats.
Encouragingly, the bank’s ongoing educational initiatives are empowering customers with the knowledge and tools they need to navigate the digital landscape safely. There is a growing belief that with increased awareness and coordinated efforts, the community can build resilience against these financial crimes.
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