Fake articles about Australia’s largest bank – the Commonwealth Bank – were spread on social media, including Facebook (NASDAQ:). Users were lured to an hacked website where personal and financial data could be stolen.

Initial fake articles were presented as stories on Australian Broadcasting Corporation. They stated that the bank had signed a partnership agreement with a cryptocurrency exchange platform. Later, they encouraged people to invest through the exchange.

First, the Commonwealth Bank denied the information and then tagged the claims as false claims. The bank asked media outlets to remove the content. The Commonwealth Bank reported the matter to local authorities.

The bank released an official statement, warning customers not to click on the fake article’s links. In addition, it was reminded in the report that customers are not asked for their personal data by phone or email.

It isn’t the first time that an Australian bank has fallen prey to scammers. Many SMS and email scam links were sent last year to victims posing as the bank in order to steal their funds.

Also, the previous year, the CBA achieved a milestone – the bank partnered with Gemini to become the world’s first high street bank to allow customers to trade digital assets.

Flipside

A lawsuit was filed against Meta (Facebook) by the Australian Competition and Consumer Commission (ACCC), charging the tech giant as it “aided and abetted or was knowingly involved in fraudulent or misleading behavior and statements by the marketers.”

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