The Customer Owned Banking Association (COBA) said phone scammers were calling banking customers in the Warrnambool district and claiming to be from a bank's 'fraud department' or 'monitoring team'.

COBA's director of financial crimes and services Leanne Vale said the scammers attempted "to make a victim of anyone who answers the phone".

"They use shameful tactics to obtain personal information which they later use to try and access funds and steal your identity," she said.

"Many elderly residents have been isolated in their homes and often do not think twice about answering a call they see might be from a local or city number. These scammers use technology to make the call look like its local when in reality they are overseas."

Consumers who suspect a scam phone call are urged to immediately hang up and call their banking institution.

Legitimate banks would not ask people to verify bank details or reveal PIN numbers and access codes.

If you have any reason to suspect that a phone scam has occurred, contact your bank, credit union or building society, where trained staff are waiting to assist.

Contact details can also be found at www.customerownedbanking.asn.au/find-a-customer-owned-banking-institution.

Scams should also be reported to police. Anyone with information can contact Crime Stoppers on 1800 333 000 or submit a confidential crime report at www.crimestoppersvic.com.au

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