Banks warn scammers will exploit Microsoft Friday 13th outage - Australian Broker

ING and the customer-owned banking sector have told Australians to expect fake "tech support" calls as Microsoft 365 struggles to recover. Brokers' clients, especially those close to settlement, are prime targets for scammers exploiting the global disruption.

The outage, which began early on Friday Australian time, knocked out Outlook, Teams and other Microsoft 365 services for business users worldwide. More than 5,500 Australian users had reported Outlook problems on Downdetector by 9am, according to The New Daily.

Scam tactics

Martin Latimer, COBA's head of financial crimes and cyber resilience, explained that while email is down, scammers often switch to "vishing" - phone calls or robocalls designed to trick people into revealing sensitive information.

He urged anyone unsure of a caller to hang up and ring back on a known genuine number, warning that criminals may continue posing as technical support even after Microsoft's systems return to normal.

An IT business owner in Queensland told ABC that people should be wary of anyone cold-calling with an offer to fix their computer, expecting scam attempts to continue for at least a week.

Settlement risks

For mortgage brokers, the danger is sharpest around settlement when clients expect messages about large transfers. Across the Tasman, the outage disrupted property settlements badly enough that the New Zealand Law Society suggested lawyers could temporarily use alternatives like Gmail, WhatsApp and text messages.

Payment-redirection scams work by convincing people that bank or contact details have changed. A day when legitimate parties really are using new channels makes that story more believable.

ASIC confirmed in August that scammers had been posing as ASIC staff by email to target people at market operators and financial firms, highlighting the persistent threat.

Broker guidance

Brokers can send a short message to clients now, by text or phone if email is still down. It should emphasize that the broker will never ask clients to change payment details, install software or give remote access.

Clients with settlements due in the coming days deserve a direct call. Staff should treat any unsolicited call from "Microsoft", an IT provider or a lender's "tech team" with suspicion, confirming through known contacts before granting any device access.

Microsoft stated there was "no indication this is a cyber attack," but the disruption has created a perfect environment for scammers to exploit confusion and urgency.