EOFY is prime time for scammers

With end of financial year nearly here, the ABA is reminding customers to be on high alert for scammers looking to steal your hard-earned money.

Common EOFY scams to be on the lookout for:

• Dodgy shopping websites offering massive EOFY discounts — fake websites that closely mirror legitimate sites/brands to deceive people into false purchases.
• Impersonation and tax scams — criminals pose as Government agencies such as the Australian Tax Office (ATO), your bank or even your accountant, using official looking emails, texts or calls to demand payments or personal information.
• Parcel delivery scams — fake parcel notifications sent via text message or email tricking people into sharing personal or financial information.

ABA CEO Anna Bligh said with the end of financial year approaching, scammers are lining up and looking to cash in.

“End of financial year is prime time for scammers,” Ms Bligh said.

“It could be an EOFY sale, a half yearly clearance or tax season – they’re all opportunities for scammers.

“Whether you’re looking for a bargain in the EOFY sales or starting to think about tax time, it pays to double check that you’re not about to fall victim to a scam.

“This is the time of the year where scammers will look to trick you by sending fake tax refund offers or demand payments, hoping you click and handover details before you think.

“If an EOFY shopping deal looks too good to be true, it probably is. Don’t let a dodgy link or fake website turn your EOFY win into a scammer’s payday.

“Scammers aren’t just hiding in dark corners of the web – they’re right there in your inbox, on your phone and in your social media feeds, pretending to be your favourite brand or even the ATO or another government agency.

“Banks have ramped-up safeguards to detect and block scams, however customer vigilance is still essential to help keep your money safe.”

To learn more about what banks are doing to protect Australians from scams visit: https://www.ausbanking.org.au/scam-safe-accord/.