There is little that drains your trust faster than a scammer pretending to be someone you trust. Learning how to avoid scammers taking your money is crucial in protecting yourself.
Impersonation is the #1 tactic that scammers use, costing Australians $353 million last financial year alone.
Here are three ways you can be more aware and stay one step ahead.
1. Banks and government agencies will never ask for details via text or email
You’ll never get a legitimate request from the ATO, Centrelink or your bank asking for passwords, one-time codes, or personal information through unsolicited messages.
The red flags to spot are things like slight misspellings in email addresses such as a clearly fake email like commbank-security@randomdomain.co instead of the real one or urgent demands to “verify your account now.”
It’s best to approach with extrem caution so if you’re in any kind of doubt, hang up and call the official number from your statement or their website.
2. Scammers ‘spoof’ phone numbers and create perfect-looking emails
Criminals can make caller ID show your local bank branch or even “MyGov.”
We’ve seen emails that look identical to Commonwealth Bank or NAB – the logo, the colours and even the formatting – until you hover over links or check the sender address.
We recommend you enable two-factor authentication everywhere and if the firm you’re dealing with does not have this feature available as a bare minimum you should consider finding another provider.
Also, never click links in unexpected messages. Instead, log in manually by typing the official URL yourself.
3. Always verify independently
The golden rule we live by: stop, think, and check separately.
If you receive a worrying call that warns you about your super or a tax refund then end the call politely, wait five minutes (so the line clears), then ring the organisation directly using a number you know is genuine.
If you’re still unsure you could try enlisting the help of a trusted friend or service and see what their thoughts are.
Impersonation scams rely on speed and fear.
Slow down, verify independently, and reach out to a trusted source if something just doesn’t feel right.
When it comes to your money and privacy, a healthy level of distrust and a quick call to a trusted source is better than a costly mistake.
