Commonwealth Bank Issues Warning on Recruitment Scams
As the new year rolls in, Australians are being cautioned about a spike in job and employment scams, particularly targeting students. The Commonwealth Bank (CBA) warns that many fake job offers are schemes devised by fraudsters to infiltrate people’s bank accounts, turning them into what are known as “money mules.”
Reported incidents of recruitment fraud among those aged 24 and under surged in 2025, more than doubling compared to the previous year. Data from the National Anti-Scam Center indicates that it has become the second most significant type of scam, resulting in over $2.2 million in losses.
James Roberts, CBA’s Executive General Manager of Fraud, noted that students are often vulnerable at the semester’s start since they’re actively searching for flexible work opportunities. “These fake job offers are designed to turn young people into money mules, facilitating the transfer of stolen funds,” he explained.
Typically, scammers reach out through online platforms or text messages, leading victims to believe they are fulfilling legitimate job responsibilities. In reality, a so-called employer may instruct individuals to handle money transfers as part of their roles, with victims unknowingly participating in criminal activities such as fraud or drug trafficking.
“If your job requires you to use your bank account for receiving or sending money, that’s a major red flag,” Roberts cautions. “Legitimate employers won’t ask you to conduct financial transactions through your personal accounts.” Other warning signs include requests for bank details or login information.
These scams are becoming more prevalent on platforms like Facebook, where ads promising “fast and easy money” are common. According to the Australian Federal Police, criminal groups are particularly targeting international students, offering them between $200 and $500 for temporarily using their bank accounts, sometimes even paying up to 10% in fees.
Statistics show that between August and October last year, at least 1,825 Facebook groups were reported for attempting to rent or purchase Australian bank accounts.
Roberts added that if someone’s bank account is used to facilitate criminal activity, it can lead to serious repercussions, even if they initially believe everything is above board. This could include account restrictions or closures, and the bank is mandated to report any suspicious actions to AUSTRAC and law enforcement agencies.
“If someone knowingly participates in this kind of activity, they risk criminal charges. It’s not something to take lightly; it can have lasting consequences,” he remarked. He encourages anyone who suspects they have fallen victim to such scams to get in touch with their bank immediately.
