Online Fraud - Report from the President
For those unaware, the executive decided about two years ago to proceed down the path of setting up an internet banking process that would substitute for the current process of sending cheques bouncing around the country looking for two signatures.
Following much paper work and many visits to multiple branches, we were in a position in April of this year to finally use an electronic system. It was at this time that we were alerted by Westpac that 6 lots of $5000 had moved from our account to a Chinese bank.
We had not as yet begun to use the new facility and did not believe that we had any need to be too concerned. The bank began its usual, possibly routine, investigation and followed the trail of the PIN numbers from production through the mailing process to our letter box. On the way, the investigator informs me, she became somewhat of an expert on the entire process from beginning to end. They found the suspect, not a member of ANZSGM, and handed over the evidence to the police.
Westpac have reimbursed our funds and reset our passwords. They also apologised for failing to maintain our two signatories’ policy and they have fixed this problem.
This matter has now been resolved, and I believe that we should still use the electronic system but would happily receive feedback.
Jeff Rowland
Jeffrey_Rowland@health.qld.gov.au