ANZ Issues Urgent Warning Over 'Scam-Coaching' Tactics Targeting Bank Customers

ANZ has issued a critical warning regarding the rise of "scam-coaching," a sophisticated manipulation tactic where criminals train victims to bypass banking security protocols. For fintech professionals, this highlights a growing vulnerability in the human element of the security chain, where social engineering is being used to systematically dismantle traditional fraud detection frameworks.

What was announced

ANZ is sounding the alarm on a trend where scammers use long-term psychological manipulation to prepare victims for interactions with bank staff. Unlike high-volume, automated fraud, scam-coaching involves building trust over days or weeks. Criminals provide victims with specific scripts, cover stories, and instructions designed to neutralize the security questions asked by bank employees during high-value transactions.

The bank reports that this tactic is particularly prevalent in cryptocurrency investment scams and schemes involving the movement of entire life savings. Scammers often isolate their victims, creating a sense of distrust toward the financial institution. Common instructions given to victims include telling the bank they have conducted their own independent research, that no third party is assisting them, and that they are fully aware of the risks involved.

The coaching occurs both over the phone and in physical branches. ANZ staff have observed customers entering branches with headphones on or phones hidden in pockets to receive real-time instructions from scammers while speaking to tellers. This method is specifically designed to circumvent the ANZ Falcon security system and other preventative measures like Confirmation of Payee and Digital Padlock. By convincing customers to lie about the purpose of their transfers, scammers effectively turn the account holder into an unwitting accomplice in their own financial loss.

"Scammers work hard to gain a victim’s trust – sometimes so much that they convince people to lie to bank staff if questioned about their transactions. They might say things like ‘the bank doesn’t want you to make money with crypto’ to pressure customers into hiding the truth. Our questions can feel intrusive, and delays can be frustrating, but being honest with us is important – we’re trying to protect customers from losing money. Even when our ANZ Falcon system flags something suspicious, some customers repeat lines the scammer has told them to say to get the transaction through."

Ben Verhoef, ANZ Scams Lead.

The companies involved

ANZ, formally known as the Australia and New Zealand Banking Group, is one of the "Big Four" Australian banks and maintains a significant presence across the Asia-Pacific region. As a major retail and commercial lender, the bank sits at the frontline of regional fraud prevention. The institution has invested heavily in a multi-layered security framework to combat the evolving threat landscape, deploying proprietary technology such as the ANZ Falcon system alongside a dedicated First Responders team to manage suspicious activity.

In the broader market, ANZ has positioned itself as a technologically forward-leaning institution, participating in high-level infrastructure projects involving blockchain and artificial intelligence. The bank's focus on scam-coaching reflects a shift in the market where technical security measures are increasingly robust, forcing criminals to pivot toward the psychological manipulation of the end-user. By addressing the "coaching" element, ANZ is attempting to bridge the gap between automated detection and the human interactions that often serve as the final gatekeeper for large capital outflows.

What FF News has reported before

FF News has previously tracked ANZ’s technological evolution, including the bank's move to integrate advanced automation in its operations, such as when ANZ Launches Agentic AI-Powered CRM to Transform Business Banking. The bank has also been a key participant in global infrastructure trials, notably when Swift Launches Blockchain Ledger for 24/7 Cross-Border Tokenised Deposit Payments and during the announcement where Chainlink Announces CCIP Private Transactions. Furthermore, the industry-wide struggle against sophisticated fraud was highlighted in our coverage of how Swift AI Innovation Creates Blueprint for Banks to Stop Fraud Faster Through Cross-Border Collaboration.

What this means

This development signals a move into a "post-technical" era of fraud, where the primary battleground is no longer just the code, but the customer’s psyche. When criminals successfully coach victims to lie, they render even the most advanced AI detection systems nearly useless, as the "authorized" nature of the transaction remains technically valid. This puts immense pressure on frontline staff and branch networks, who must now act as amateur psychologists to detect rehearsed behavior. The industry should watch for a shift toward more friction-heavy verification processes, as banks may be forced to implement mandatory cooling-off periods for high-value transfers that show even subtle signs of third-party influence.