Almost 240,000 scams were reported last year. Investment scams accounted for 69% of all reported losses valued at $378m, Scamwatch data shows.
Scams are growing ever more complex and sophisticated. There were 256,842 scams worth $596 million reported to ACCC’s Scamwatch in the 12 months to February 2023 – an average of 21,404 scams a month, worth $49.6 million each month. Australians can take effective, preventative steps to protect themselves against fraud and scams.
Find out more below about why it’s essential to ‘hear the alarm bells’ to help prevent scams.
Hear the alarm bells – the anti-scam campaign from the ABA
Bank impersonation scams
Banks will never call you and ask you to transfer money to another account.
Never click on suspicious texts, links or emails.
Always check you’re dealing with a legitimate organisation.
Never transfer money unless you’re certain it’s to the right person.
Top 15 tips on scams – Remember…
- Call and ask people to transfer funds to another account over the phone.
- Contact you to ask for any account or personal details in an unsolicited text or email.
- Ask for online banking passcodes or passwords over email, text or phone.
- Ask for remote access to your devices.
- Threaten you to take immediate action on an issue.
- Provide banking information, passwords or two-factor identification codes over the phone or via text to anyone even if you know them – contact the bank through official channels only.
- Login to your online banking via links sent through email or text.
- Click on suspicious emails, links or texts.
- Transfer money unless you’re certain it’s going to the right person.
- Provide personal information to anyone you don’t know personally unless you know it’s for a legitimate purpose.
- Pause to question the authenticity of a text message, an email, a call or a person who claims to be from a trusted organisation. If in doubt, call back on the publicly listed phone number before taking any action.
- Register a PayID securely through your bank and not via a third party and use PayID where you can.
- Set-up two factor authentication to protect your accounts and online banking.
- Check the legitimacy of any invoices or bills and use PayID wherever possible.
- Immediately report any suspicious activity directly to your bank.
Where can I report a scam?
View the Press Release from 7am, 11 April 2023