Almost three-quarters of mortgage brokers have been impacted by scams or fraud over the last 12 months, a sharp increase from the 26 per cent reported last year.
A new survey of 1,000 brokers conducted by data analytics company Equifax has revealed that brokers are increasingly coming up against fraud or scams.
Almost three-quarters of Australian mortgage brokers said they had been impacted by scams or fraud in the 12 months to September 2025, a sharp increase from the 26 per cent reported in the same period last year.
The 2025 Equifax Mortgage Broker Pulse Survey revealed that half (50 per cent) of brokers surveyed said that this activity took the form of basic scam emails, calls, or texts.
Moreover, brokers said they were being targeted by fake websites and emails (37 per cent), document falsification (37 per cent), and “sophisticated” fake scam websites (38 per cent).
The Equifax Mortgage Broker Pulse survey also revealed that over the course of the last 12 months, more than a quarter (27 per cent) of brokers had been placing greater scrutiny on applications to detect potentially fraudulent activity.
Despite the finding, the survey also found that only 13 per cent of brokers said they felt that it was important to stay educated and on top of protection from fraud and scams.
Noting the findings, Moses Samaha, Equifax’s executive general manager, commented: “At Equifax, we know just how aggressive fraudsters are in continuously evolving their practices. Now more than ever, it’s vital to remain educated and take precautions.”
Scam activity on the rise
The surge in scam activity comes as government, lenders, and industry bodies increase their efforts to combat fraud, following a wave of high-profile digital attacks targeting financial services.
Earlier this year, several banks and regulators urged brokers and consumers to remain vigilant as the Australian Securities and Investments Commission (ASIC) revealed it had shut down more than 330 investment scam websites in 2025 alone – a 25 per cent increase year on year.
Property exchange PEXA also warned that settlement scams remain one of the most financially devastating forms of cyber crime, with new research showing 97 per cent of recent or prospective home buyers failed to identify scam markers in property transaction emails.
To help brokers specifically, the Mortgage & Finance Association of Australia (MFAA) launched What to do if you’ve been scammed earlier this year, a new member guide outlining how to identify, report, and respond to scams – including payment-redirection fraud, email interception, and impersonation scams.
Major lenders have also begun rolling out new defensive measures. ANZ reported a 15 per cent fall in customer scam losses over the past year, attributing the decline to increased customer awareness and new fraud-prevention tools. National Australia Bank (NAB) has introduced selfie verification for new online accounts to curb identity theft, requiring customers to match ID documentation with a live scan before opening products.
NAB has previously suggested that simple measures that can protect brokers include:
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Using multi-factor authentication.
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Strengthening passwords and reviewing email forwarding rules.
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Training staff to recognise suspicious messages.
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Staying alert to unexpected payment requests or unusual digital activity.
[Related: Banks and trade bodies push scam awareness to fight fraudsters]
