Would I lie to you? ANZ warns of troubling ‘scam-coaching’ trend

Financial institutions are reporting a dangerous new trend called 'scam-coaching' that directly impacts how you process customer transactions. Criminals are no longer just stealing data; they are actively training victims to lie to bank staff and merchants. They provide scripts and cover stories to help customers bypass security protocols during high-value purchases or credit applications. This is particularly relevant for retailers offering in-house financing or high-ticket items where identity verification is required. For your business, this means a customer who appears nervous or is constantly checking their phone during a financing application might be following instructions from a scammer. These coached victims are often told to tell specific lies—such as claiming a large purchase is for a family member or a renovation—to ensure the transaction isn't flagged by fraud departments. When these scams succeed, the merchant often faces the headache of disputed charges, chargebacks, or complicated clawbacks once the victim realizes they have been defrauded. Retailers should ensure their sales teams are trained to spot these behavioral red flags. If a customer seems to be reading from a script or becomes uncharacteristically defensive when asked standard verification questions, they may be a victim of coaching. Staying vigilant helps protect your business from the administrative nightmare of fraudulent financing deals that will eventually be reversed.

Source: Finextra — Lending

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