Banks moved quickly on Friday to warn customers that scammers would use the global Microsoft 365 outage as cover.
ING told customers to be on alert for fraudsters seeking to take advantage of the disruption. "Scammers may contact you offering to resolve the Microsoft or other systems issues," the bank said, according to ABC News. "Do not allow anyone access to your devices without confirming with the organisation through their publicly listed contact number."
The Customer Owned Banking Association, which represents mutual banks, credit unions and building societies, issued a similar alert. Martin Latimer, COBA's head of financial crimes and cyber resilience, said 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 them back on a number you know is genuine, and warned that criminals may keep posing as technical support after Microsoft's systems return to normal.
An IT business owner in Queensland told the ABC that people should be wary of anyone cold-calling with an offer to fix their computer, and expected scam attempts to continue for at least a week.
The outage, which began early on Friday Australian time, knocked out Outlook, Teams and other Microsoft 365 services for business users around the world. More than 5,500 Australian users had reported Outlook problems on Downdetector by 9am, The New Daily reported. Microsoft said there was "no indication this is a cyber attack," according to the ABC.
That creates an opening. Staff who can't email IT support are more likely to accept a call from someone claiming to be from Microsoft. Clients who can't reach their broker or conveyancer by email are more likely to act on a text or call that seems to come from them. And on a day when many businesses really are using backup phone numbers and personal email addresses, a message saying "we've changed our contact details" doesn't look unusual.
Many people don't check. In recent survey data, 87% of scam victims said they made no independent checks before discovering the fraud.
For mortgage brokers, the danger is sharpest around settlement, when clients are expecting 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 such as Gmail, WhatsApp and text messages, while verifying any new contact details through a known phone number and keeping their usual checks before releasing funds, the NZ Herald reported.
Payment-redirection scams work by convincing someone that bank or contact details have changed. A day when legitimate parties really are using new channels makes that story easier to sell.
Financial businesses are also targets. ASIC confirmed in August that scammers had been posing as ASIC staff by email to target people at market operators and financial firms.
Brokers can send a short message to clients now, by text or phone if email is still down for them. It should say that the broker will never ask them to change payment details, install software or give remote access, and that any request like that should be checked by calling a number they already have. Clients with settlements due in the coming days deserve a direct call.
Inside the business, staff should treat any unsolicited call from "Microsoft", an IT provider or a lender's "tech team" with suspicion, and confirm through a known contact before giving access to any device. That advice applies for the next week or more, not just while the outage lasts.
The warnings come as scam obligations tighten. Lenders face significant new duties under the Scams Prevention Framework, and the MFAA has said brokers' role in educating clients is central to its success, as the latest scam figures show.
Suspected scams can be reported to Scamwatch at scamwatch.gov.au and to the client's bank using its published contact details.
This story may be updated as Microsoft restores services.
