SCAMS!

5 December 2019

There seems to be ever increasing number of people caught up by scams. Often people say “I can’t believe they didn’t see it coming” but scams are becoming increasing clever and more complex. Australians are set to lose a record amount to scams in 2019, with projections from losses reported to Scamwatch and other government agencies year to date expected to exceed $532 million by the end of the year, surpassing half a billion dollars for the first time.

Recent examples include:

• $480,000 scammed from Emmanual College after account payment details were changed by a fraudulent email (July 2018).

• Fraudulent calls from the ATO telling people they owe a tax debt that must be urgently paid, otherwise Police will be called (ongoing).

• A romance scam where an Australian woman travelled to Malaysia in search of love, and returned home with a planted bag of drugs (November 2019).

• Investment scams that promise returns far too good to be true, often linked to expensive training courses, celebrities or special software (ongoing).

There are a few warning signs you should always look out for. This list is not comprehensive and the scams continuously evolve to develop new tricks.

• Make sure your computer software is up to date and you have a virus scanner installed. Don’t respond to phone calls, or messages on your computer, that tell you there is a virus on your computer.

• Don’t click on links in emails. This may direct you to false websites made up to look like real sites (known as phishing).

• If you think you’re speaking to a friend on social media, call them, or find another way to contact them before acting on any advice that might result in you giving away your personal details or money.

• Minimise the chance of someone accessing your mail and stealing your identity by keeping your mail box cleared and locked. If you don’t need hard copy statements mailed to you tell your bank, electricity supplier and phone company to send you email statements instead.

• Don’t be pressured into making a decision on the spot. Scammers often employ high pressure tactics with comments like ‘once only deal’ or ‘offer only available today’.

• Scammers sometimes request payment using methods that are hard to trace. Be suspicious if they demand payment in cash and don’t provide any other option. Other cases have even seen scammers seek payment in vouchers or bitcoin.

• Be sceptical and question any offer that seems ‘too good to be true’. Check any decision you plan to make with a family member, friend or trusted professional.

  Don’t hesitate to call us at Ambleside if you suspect a scam or want to check if an offer is genuine. There are also some great resources online that have more information about the most recent scams. Check out www.scamwatch.gov.au