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Community 01/Jul/2025

July 2025 SmartLINK Newsletter

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July 2025 SmartLINK Newsletter

Community 16/Dec/2024

January 2025 SmartLINK Newsletter

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January 2025 SmartLINK Newsletter

Finance 27/Nov/2024

Manage your money with these free apps

It is great to check your account balance and pay bills quickly with the BankWAW app or pay with your digital wallet at checkout. It is also nice that there is a range of apps out there that can help you budget and manage your money. We provide some examples of apps that can help you manage your money.

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Manage your money with these free apps

Finance 06/Sep/2024

Leading With Purpose

Michael Mack, CEO of BankWAW, recently joined a delegation of 39 representatives from 25 customer-owned banks at Parliament House in Canberra to represent the voice of their customers and assert their leadership role in a landscape often dominated by the big four banks. The visit provided a crucial opportunity for industry leaders to engage directly with senior officials, including Treasurer Jim Chalmers MP, Assistant Treasurer Stephen Jones MP, and other Members of Parliament.

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Leading With Purpose

Security 30/Aug/2024

A job offer that is too good to be true

While reported job scam losses have shown a slight decline this year, the threat remains significant with Scamwatch reporting $6.4 million in losses to employment scams. Here are some tips on how to spot and avoid employment scams.

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A job offer that is too good to be true

Announcements 12/Dec/2022

Holiday payment processing

Over the Christmas and New Year’s holiday period, there will be delays in the processing of standard payments to payees outside of WAW Credit Union. Osko payments will not be affected.

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Holiday payment processing

Announcements 24/May/2022

Borrowers to benefit as BankWAW holds back on full rate rise

MEDIA RELEASE

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Borrowers to benefit as BankWAW holds back on full rate rise

Announcements 23/Mar/2022

We have rebranded to BankWAW

Find out more about how these changes impact you.

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We have rebranded to BankWAW

Announcements 23/Mar/2022

BankWAW Media Release

WAW launches a new brand and trading name.

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BankWAW Media Release

Announcements 11/Mar/2022

WAW is rebranding to BankWAW

WAW Credit Union Co-operative Limited will trade as BankWAW from 23 March 2022.

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WAW is rebranding to BankWAW

Community 01/Jul/2025

July 2025 SmartLINK Newsletter

Read More
July 2025 SmartLINK Newsletter

Community 16/Dec/2024

January 2025 SmartLINK Newsletter

Read More
January 2025 SmartLINK Newsletter

Community 01/Jul/2024

July 2024 SmartLINK Newsletter

Read More
July 2024 SmartLINK Newsletter

Community 28/May/2024

House prices in northeast Victoria and southern New South Wales

In this article we examine the house prices in our service region, what is changed over the past year, and especially what it means if you are looking to buy a new or another home.

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House prices in northeast Victoria and southern New South Wales

Community 01/Jan/2024

January SmartLINK Newsletter

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January SmartLINK Newsletter

Business email compromise and invoice redirection fraud

Monday, November 2, 2020 / Security

Invoice redirection fraud is on the rise, with scammers impersonating businesses to send fraudulent emails to unsuspecting individuals and businesses.


What is invoice direction fraud? 

Invoice redirection scammers intercept legitimate invoices and change the details to include fraudulent payment information.

This is usually done by gaining remote access to an email account or using an email address that appears legitimate and almost identical to the trusted business email address. The scammer then sends what appears to be a legitimate email requesting money or sensitive information to an unsuspecting individual or business.

In the case of Invoice Redirection Fraud, the scammer will send an invoice which includes new updated bank details so payments are redirected to the scammer. The recipient will pay the invoice as normal and neither they nor the business (owed the money) may realise they have been scammed until the business contacts the recipient to ask why an account has not been paid.
 
Redirection emails are also sent when no money is owed and the scammer is simply relying on the recipient to have poor accounts payable practices in place.  The invoice will appear to be from a legitimate service provider and refer to a service of the type the recipient is likely to use.
 

If you are a business

It is important that your business takes the necessary steps to avoid being impersonated by a cybercriminal who may scam your customers, making it harder to get your invoice paid and risk eroding the trust of your customers.

To avoid a scammer impersonating your business you should: 

  • secure your email, accounting and other systems with two factor authentication consider options for firewall/virus protection arrangements to protect your business’s online environment

  • monitor your network, accounts and communication channels for any suspicious activity

  • regularly remind your customers about the invoice payment process

  • educate your staff and customers about the importance of being aware to hackers, scams and cybercriminal activity that could affect your business

  • set up a PayID using your ABN or a business email address and use these details on your invoicing

  • if your banking details do change, ensure your customers are aware via a robust communication effort to them about the change. 
     

Warning signs that your business may have been targeted

  • You are unable to log in to your computer or mobile device, or your email, social media and other online accounts.

  • You notice new icons on your computer screen, or your computer is not as fast as it normally is.

  • Files on your computer have been moved or deleted.

  • Pop-up boxes start appearing on your computer screen. These may offer to help 'fix' your computer, or a simply have a button that says ‘close’.

  • You have an unexpectedly large phone data or internet bill.

  • You notice that amounts of money go missing from your bank account without any explanation.

  • You suspect that your mobile phone number has been ported without your consent, after you notice that your phone is showing 'SOS only' where the reception bars usually appear.
     

 Things to check if you’re paying a supplier

 To avoid being a victim of Invoice Redirection Fraud, it is recommended you check:

  •  alterations on invoices including low quality graphics, poor spelling or mismatched fonts

  • whether the sender email address has changed or references an entity not related to the organisation providing the service

  • unusual amounts or descriptions of products and services

  • different bank account details or ‘how to pay’ information from previous invoices.

If you think you have been the victim of a financial scam, please get in touch with us as soon as possible on 1300 368 555.

Online scams are constantly evolving, so check on Scamwatch  and the Australian Cyber Security Centre website regularly for updates. You can also check out our blog post about keeping yourself safe online.
 
Please note this article provides general information only.  When deciding how to protect the operations of your business please take into account what is in the best interests of your business and consider obtaining appropriate professional advice.

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Finance 27/Nov/2024

Manage your money with these free apps

It is great to check your account balance and pay bills quickly with the BankWAW app or pay with your digital wallet at checkout. It is also nice that there is a range of apps out there that can help you budget and manage your money. We provide some examples of apps that can help you manage your money.

Read More
Manage your money with these free apps

Finance 06/Sep/2024

Leading With Purpose

Michael Mack, CEO of BankWAW, recently joined a delegation of 39 representatives from 25 customer-owned banks at Parliament House in Canberra to represent the voice of their customers and assert their leadership role in a landscape often dominated by the big four banks. The visit provided a crucial opportunity for industry leaders to engage directly with senior officials, including Treasurer Jim Chalmers MP, Assistant Treasurer Stephen Jones MP, and other Members of Parliament.

Read More
Leading With Purpose

Finance 29/Jun/2021

How you can stay safe online at tax time...

The end of the financial year can be a stressful time, and there are usually a bunch of criminals waiting for you to slip up and fall into their scams. 

Most people expect to hear from the Australian Taxation Office (ATO), so you should always expect the unexpected, and consider whether you're being contacted by someone legitimate or by a criminal who is out to get their hands on your personal details and hard-earned money.  

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How you can stay safe online at tax time...

Finance 23/Jun/2021

Owning your first home might be easier than you think...

WAW have been in the home loan game for more than fifty years, so we've helped our fair share of first home buyers to get a leg-up.  

We've rounded up a bunch of great financial schemes and hot tips that can help you to get started.  

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Owning your first home might be easier than you think...

Finance 26/Sep/2020

Making financial decisions during COVID-19

It’s been a difficult time for many people in our communities, with the impact of COVID-19 and the associated shutdowns having a major impact on individuals, businesses and regions.

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Making financial decisions during COVID-19

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