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Scammers busted transferring money from older Australians

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Police have broken up an alleged criminal group that pretended to be technical support to transfer money out of older Australians' bank accounts.

NSW Police arrested a 25-year-old man from western Sydney, who is accused of being the head of the syndicate.

Police were tipped off by the Fintel Alliance, which is a collaborative group consisting of fraud-tracking agency AUSTRAC and the four big banks.

The group gave information about a 79-year-old bank customer that had $20,000 transferred out of his account by the alleged criminal group.

"The most common method involved members of the syndicate 'cold calling' victims and asserting to be technicians from their telecommunication company," stated the Fintel Alliance.

"The syndicate convinced the victim there was a security flaw in their internet access and the victim allowed the syndicate to control their computer via remote access."

NSW Police recommended Australians never give out banking information over the phone unless they have verified the true identity of the person on the other end of the line.

The safest way to do this is to hang up and phone back the institution through its official number.

"Additionally, government agencies and most telephone and internet providers will not request you make payment via, iTunes or Google Play or similar gift cards," the Fintel Alliance stated.

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