The Best Scam Advice Image

The Best Scam Advice

Older Australians have previously been identified as one of the most vulnerable cohorts when it comes to scams. For that reason, over the years as scams have been increasingly catching Australians out, and we have provided regular scam advice. This is some of our best advice (updated), with some more to make sure you are fully informed and can protect yourself from scammers.

 

How scammers reach you

  • Text or SMS scams – scam messages look like they are from the government, businesses you deal with or even your own family and friends.
  • Phone scams – these cost Australians $141 million in losses last year.
  • Email scams – look like real emails, however, beware of links and attachments that are designed to steal your money or information.
  • Social media scams – these scams are on the rise, be suspicious of anyone contacting you out of the blue.
  • Website scams – online scammers pretend to be anyone to deceive you into trusting them.
  • In person scams – some scams take place face to face.

 

Common scams to watch out for:

  • Romance scams – scammers use dating and friendship to get your money. They go to great lengths to convince you the relationship is real and manipulate you into giving them money.
  • Investment scams – if you’re looking to make money through investing, be careful – scammers have created all sorts of fake opportunities to get you excited and take away your cash.
  • Product and service scams – scammers prey on consumers and businesses that are buying and selling products and services. Not every transaction is legitimate.
  • Threats and extortion scams – scammers will use any means possible to steal your identity or your money – including threatening your life or ‘hijacking’ your computer.
  • Jobs and employment scams – jobs and employment scams trick you into handing over your money by offering you a ‘guaranteed’ way to make fast money or a high-paying job for little effort.
  • Unexpected money – don’t be lured by a surprise win. These scams try to trick you into giving money upfront or your personal information to receive a prize from a lottery or competition that you never entered.
  • Impersonation scams – identity theft is a type of fraud that involves using someone else’s identity to steal money or gain other benefits.

 

 

Scammers come from all over the world, some work as individuals, some in groups, and their reasons for scamming also vary quite a lot. Some scammer motives include:

  • Tricking you into installing malicious software onto your computer or enabling remote access so that your data, personal information and money can be stolen.
  • Obtaining your personal information to carry out identity fraud.
  • Deceiving you into paying fraudulent bills or fines.
  • Gaining control of your computer or device and contact people you know.
  • Obtaining your intellectual property.

 

Scams work because they look like the real thing and can catch you off guard when you are least expecting it.

Taking advantage of new technology, new products or services and major events, scammers create believable stories to convince you to give them money or personal details.
Some scams are simple while others are more complicated, multi-step scams, often using the latest technology.
Always stop, think and check before you take any action. Scammers rely on you not identifying the warning signs because you’re in a hurry, you don’t want to miss a great deal, or because it appears to be from someone you trust.

While it can be hard to spot a scam, here are some things to look out for that may help:

  • Its a ‘too good to be true’ opportunity to make or save money.
  • Someone you do not know and haven’t met needs your help, and money.
  • The message contains links or attachments.
  • You are made to feel pressured or rushed to act.
  • You are asked to pay in unsual or specific ways.
  • You are asked to set up new accounts or PayIDs.

 

If you have been a victim of a scam, be careful of future attempts. 1 in 3 scam victims have been scammed more than once. Scammers will often try to scam you again, especially through ways including ‘helping you get your money back’.
There are immediate steps that you can take to limit the damage of a scammer and protect yourself from more loss. the most immediate things you should do include:

  • Contact your bank or card provider to report the scam and get them to stop any transactions and take relevent action.
  • Report the scam to scamwatch.com.au to warn others.
  • Watch out for any follow up scams.
  • Get support to help you through your experience. This support can be anything from financial advice , reaching out to family or friends or a counsellor.

 

BEST TIP: the best way to avoid scams is to be informed. Stay informed by regularly checking the Australian Government Scamwatch website, scamwatch.gov.au

 

The information provided general advice only on a limited range of scams. it has been sourced from scamwatch.com.au We suggest you visit the Scamwatch website for full and complete expert opinions and advice.

 

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