Scam-proofing your finances
How to spot scams and protect your financial security
Ever been on the receiving end of a scam call or dodgy text message? You're not alone in this wild world of online trickery! But don't worry, we're here to give you some tips on how to spot those scams and protect your hard-earned cash.
Scams can be as sneaky as a kangaroo in the night, from shady text messages to pesky phone calls. They might even disguise themselves as emails from trusted sources.
In 2021-22 alone, around 1.7 million Aussies had to deal with card fraud according to Australian Bureau of Statistics! So, let's dive right into it!
Here are some tips to shield your finances from those crafty scammers:
Protect your personal deets
First rule of thumb: never, ever click on a link or respond to a text that asks for your personal info. Even if it claims to be from a company you trust, don't fall for it! If someone calls claiming to be from your bank or insurer, hang up and call the official contact line to confirm their identity. For an extra security boost, consider using multi-factor authentication for logins.
See common types of scams here.
Scamwatch, under the watchful eye of the National Anti-Scams Centre (NASC), dishes out these golden rules:
Pay with care
Don't throw your money at just any website. Make sure it's got an ABN, clear terms and conditions, and a privacy policy. Look out for the trusty lock symbol on the left side of the website's URL to make sure it's as safe as a kangaroo in a pouch.
Check the pros
If you're getting financial advice, always check if the advisor or insurer has an Australian Financial Services (AFS) licence. And watch out for anyone trying to push you into signing without proper written documents.
Spelling bee champ
Keep an eye out for spelling blunders or weird email addresses in suspicious emails. Phishing emails are often riddled with typos, lack an unsubscribe link, and come from sketchy addresses.
Shield the vulnerable
Sadly, some scammers stoop as low as targeting grieving families. If you've recently lost a loved one, be extra cautious about phone calls from insurance companies claiming you owe money to access benefits. They might even trawl obituaries to find their next victim.
If you're in a pickle
If those sneaky scammers got the better of you and you've lost some cash, don't delay – reach out to your bank or financial peeps pronto.
Give the platform where you got scammed a heads-up so they know what's up.
Spread the word by reporting the scam to Scamwatch.
And don't forget to tell your mates and fam – sharing your story not only gets you some support but also helps keep them safe from scams.
Stay in the scam-know!
Scammers love to switch things up. The best way to keep up is to keep an eye on the ACCC’s Scamwatch website and subscribe for scam alerts.