In this issue of Member Matters:
Our latest member newsletter is here, and includes:
- A message from new Chair, Faith Page
- A tribute to former Chair, Michael Liu
- BankVic's financial wellbeing program, and new financial wellbeing hub
- Victoria Police Sports Awards
- Fake online shops: behind the scenes with Crime Stoppers Victoria
- More awards for BankVic.
We were saddened by the sudden loss of Michael Liu, who had been named as Chair of the Board in November. Michael was very widely respected by all who knew and had the privilege of working with him, including his fellow directors at BankVic. We are grateful for the time we spent as colleagues and our deepest condolences are with his family.
It is a bittersweet privilege to be invited by my colleagues on the Board to step into the role as Chair under these circumstances. I feel very honoured and know that collectively we are continuing to work alongside CEO Anthony De Fazio and the BankVic team to maintain our priority of being the bank for police, emergency, and health workers.
In this edition of Member Matters we introduce you to BankVic’s new Financial Wellbeing Hub, which is a growing resource for members of all ages and life stages. The articles, videos, booklets and other guides offer a fantastic way to help build financial confidence and capability.
BankVic’s partnership with Crime Stoppers Victoria is a very important one. Together, we collaborate to raise awareness and knowledge about the ever-changing ways scammers try and take advantage of people.
This edition of Member Matters includes an overview of fake online shops, and how these are getting harder to identify from genuine online stores. The Crime Stoppers team share the key things for us all to look for when online shopping.
We congratulate winners of the Victoria Police Sports Awards, which were held recently and were a wonderful occasion to recognise those who give so much, and those who do so well.
Thank you for your continuing membership and support of BankVic, and please get in touch with our team if we can help you with your banking needs at any stage.
Faith Page
Chair
Vale Michael Liu
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Michael Liu |
It is with great sadness we share that BankVic Chair Michael Liu passed away suddenly on Sunday 25 January.
Michael joined the BankVic Board in 2018 as BankVic’s first Board-appointed director, and was appointed Chair in November 2025. During his Board tenure, Michael made a significant contribution to BankVic and was deeply committed to our people, our members, and the communities we serve.
Michael began his career as a lawyer at Allens Arthur Robinson before moving into investment banking and later taking on senior leadership roles across fintech and venture capital. He spent more than 30 years in financial services, with deep expertise in governance, risk, and executive leadership.
In the January edition of Member Matters, Michael reflected:
“What drew me to BankVic is the focus on members above everything else – helping those who help us. It’s that dedication that all Directors and staff have, that makes BankVic so special and something we are all proud of.
Outside work, I enjoy spending time with my wife and children. Family is very important to me, whether it is my immediate family or the broader BankVic community. Supporting and helping each other are common themes."
CEO Anthony De Fazio said:
“We are deeply saddened by Michael’s passing. He made an outstanding contribution to BankVic, and I am deeply grateful for his counsel, leadership and support. Michael will be greatly missed by all who had the privilege of working with him.”
Financial wellbeing program
Financial wellbeing is about more than money - it’s about security, confidence, and control. It means being able to cover daily expenses, manage unexpected challenges, and plan for the future with peace of mind.
At BankVic, we help you build strong financial foundations through education and support at every life stage. Our resources and tools empower you to:
- Understand key financial concepts
- Make informed decisions
- Build resilience for life’s uncertainties.
Angela Martin is BankVic’s Financial Wellbeing Program Manager. Joining the team in 2025, Angela is dedicated to helping BankVic members take control of their financial future.
With extensive experience across the financial services industry and the education sector, she brings deep expertise and practical insights to our financial wellbeing program.
Angela has collaborated with universities, professional sports clubs, government departments, and community organisations to design and deliver real-world financial wellbeing resources and tools. Her work focuses on simplifying financial concepts to make them more accessible and actionable for everyone.
Passionate about empowering individuals, Angela is here to support our members build resilience in changing economic conditions, achieve their financial goals, and create a positive, sustainable financial outlook.
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Angela Martin, Financial Wellbeing Program Manager |
New financial wellbeing hub
We’ve created a new Financial Wellbeing Hub, providing a one-stop-shop for information and resources to help you take control of your financial future.
Featuring articles, videos, calculators, and other resources, the hub will be regularly added to and evolve alongside your knowledge and confidence.
Victoria Police Sports Awards
The Victoria Police Amateur Sports & Welfare Society hosted the annual Sports Awards Night on Wednesday 11 February at the San Remo Ballroom in Carlton.
Chief Commissioner Mike Bush, Emergency Management Commissioner Tim Wiebusch and former Chief Commissioner Rick Nugent were in attendance and honoured attendees collective service, teamwork, and achievements.
A highlight of the evening was the induction of the 2024 and 2025 members into the Victoria Police Sporting Hall of Fame – a reminder of the long standing dedication and prowess from police athletes. A notable inductee was Senior Sargeant (Ret.) Bob Degg, founder of the Victorian Police Games in 1981, who gave a memorable and amusing speech.
MC Nigel Purchase did a spectacular job hosting the night with his usual warmth, and thoughtful reflections on the value of sport in shaping character and resilience.
Former Matildas captain Melissa Barbieri, and former Opals player Dee Butler – now Head Coach of Australia’s U19 women’s basketball team – were guest speakers and highlighted the challenges of being women athletes while in Dee’s case, holding down a full-time police career.
As a major partner of the APSWS, BankVic presented the Most Outstanding Sporting or Welfare Achievement Award, and The Police Recreation, Social or Other Award.
Our congratulations to all involved in a wonderful night of camaraderie and celebration, for all nominees and award recipients.
How criminals build fake online shops: a behind-the-scenes tour of scam e-commerce sites
It looks like a normal online store. Clean design. Huge discounts. Professional photos. A countdown timer blinking “limited stock!” or “BUY NOW!”
But behind the scenes, many of these sites aren’t businesses at all. They are carefully built scams designed to take your money, harvest your details, or both.
Step 1: Choosing the “perfect” product
Scammers don’t just pick random items. They choose products that:
- Are in high demand (electronics, shoes, beauty tools, kids’ toys)
- Are hard to verify quickly (fashion, supplements, novelty gadgets)
- Have gone viral on social media
- If people are already searching for it or seeing ads everywhere, the scammer knows trust is half-built before the site even loads.
Step 2: Creating a store that looks legitimate
Building the site itself is fast and cheap. Scammers often:
- Copy the layout of real online stores
- Use product images and descriptions stolen from real websites
- If not stolen, images are often AI generated and generic
- Add fake “About Us” pages filled with generic language generated by AI
- Include policies that look official but are copied from other sites.
The goal isn’t perfection. It is just enough to stop you doing your due diligence.
Step 3: Manufacturing trust signals
This is where fake shops really become convincing. Common tricks include:
- Fake positive reviews with stock photos and first names only
- Fake countdown sales timers that reset every visit
- Logos claiming secure payment methods
- Some sites even list fake warehouse addresses or claim to be “family owned” to create emotional trust.
Step 4: Driving traffic through ads and urgency
Fake shops rarely rely on people finding them organically. Instead, they push their “product” through:
- Sponsored social media ads
- Influencer-style videos using stolen or AI generated clips
- Flash sales with extreme discounts
- Messages like “only 3 left in stock” or “Sale ends tonight”
- Urgency reduces critical thinking. That’s the point.
Step 5: The checkout trap
The checkout page is the most dangerous part. Scam sites may:
- Collect full card details and personal information
- Redirect payments through untraceable methods
- Skip standard security checks
- Avoid trusted payment protections.
Sometimes you will get a confirmation email. Sometimes nothing at all. Either way, the money is gone.
Step 6: After the purchase
What happens next varies:
- Nothing arrives, or a cheap, incorrect item shows up weeks later
- Tracking numbers lead nowhere
- Credit card details are compromised
- Customer support emails bounce back or reply with scripted delays
- If a phone number is supplied, it’s either not connected or nobody answers.
By the time victims realise what’s happened, the site has often disappeared and re-appeared under a new name.
Why fake online shops are so effective
These scams work because they exploit:
- Familiar online shopping behaviour
- Trust in professional-looking design
- Urgency
- Criminals don’t need millions of victims.
Thousands of small purchases add up fast.
How to protect yourself
Before buying from an unfamiliar online shop:
- Search the store name plus the word “scam”
- Be wary of prices that seem too good to be true
- A sponsored or paid post doesn’t mean it’s genuine, as fake stores also advertise
- If it is a sponsored post, check whether the account or profile name is the real deal
- Check for real contact details and a verifiable physical address
- Avoid sites that pressure you with countdowns and limited stock warnings
- Use secure payment methods with buyer protection
- Check on external review sites such as Google reviews.
And if something feels off, trust that instinct.
More awards for BankVic
We are delighted to share that your bank has been recognised with awards from Canstar, recognising the strong benefits members enjoy through having home loans through BankVic.
BankVic was named as recipients of Outstanding Value awards for:
- Home lender: overall
- Home lender: Fixed
- Investment home lender: overall
- Investment home lender: Variable
- Investment home lender: Fixed.
Canstar are an independent rating agency at the forefront of Australian financial comparison, offering insights across 30+ different categories, including banking, insurance, superannuation, and investments. Canstar conduct annual Awards to recognise financial institutions who provide excellent value across a wide array of product categories.
These awards confirm the benefit of borrowing from your 100% member-owned bank for police, emergency, and health workers. We are proud to receive these awards on your behalf.
