ANZ Group Holdings (ASX:ANZ, NZE:ANZ) warned customers to be on alert for a potential rise in scam activity following the recent decision from the Reserve Bank of Australia (RBA) to lower the cash rate target by 25 basis points, according to a Thursday company statement.

The bank said cyber criminals exploit customers by posing as financial institutions or advisers in an attempt to steal money.

The bank warned of scams promising high returns, using fake celebrity endorsements, unexpected SMS or social media communication with little to no online presence, requesting remote access to your device, involving cryptocurrency transfers, or offering to recover lost funds for a fee.

"If you are ever unsure, or you feel like you are being pressured to share sensitive information or lock in a deal, call or visit your bank to verify the contact and offer is legitimate," said ANZ Head of Customer Protection, Shaq Johnson.