Unless you’ve been living under a rock, you’ve probably noticed scams of all shapes and sizes have reach almost plague proportions in Australia.
According to the Australian Competition and Consumer Commission (ACCC), Australians lost an astonishing $3.1 billion to scams in 2022, a whopping 80 per cent increase over the amount lost in 2021.
These are the five most common scams to look out for and what you can do to avoid them.
Romance baiting
Scammers initiate relationships through dating apps or social media, build trust, and then convince victims to either send money to them directly or to invest in fraudulent opportunities, often involving cryptocurrencies.
Always be cautious when sharing personal and financial information online. Research investment opportunities independently and never invest money with someone you’ve only met on the internet and not in real life.
Online shopping fraud
Scammers create fake websites and product ads that closely resemble legitimate ones. Victims unknowingly provide their credit card details, allowing scammers to access their funds.
When shopping online, always select reputable and well-known websites, double-check website URLs for accuracy, read reviews, and be wary of deals that seem too good to be true.
Legitimate shopping websites will be using secure payment methods such as PayPal or through a financial institution. Be wary of sites asking for money transfers or cryptocurrency.
Employment fraud
In this scam, criminals post attractive job advertisements, offering high incomes and flexible work arrangements.
From there, they may gather personal information to be used elsewhere or even ask for upfront payments for non-existent jobs or training.
Always research companies and any job offers you receive, never agree to send payments and verify the legitimacy of the job through independent channels.
Recovery schemes
This scam is perhaps the most crushing of all. Criminals target people who have already been the victim of a scam, posing as a government agency offering to recover their lost money, often for a small fee.
Desperate victims are then tricked into giving away personal information and sending money for a second time.
Although there are support agencies for scam victims such IDCARE, you need to contact them first before any recovery action.
Always be skeptical of unsolicited offers for recovery assistance, independently verify the legitimacy of the recovery service, and avoid sharing personal and financial information with unknown parties.
Remote access schemes
Scammers impersonating computer technicians contact victims via email, claiming there is a problem with their computer’s security. They persuade victims to grant remote access, allowing them to steal personal information and gain access to bank accounts.
To avoid this scam, be cautious of unsolicited calls or emails from supposed technicians, never grant remote access to unknown individuals, and use reputable antivirus software and firewalls to protect your computer.
Always be sceptical of any unsolicited offers of help and never allow anyone to access your personal computer remotely.
Have you experienced any of these scam attempts? What tipped you off that it wasn’t legitimate? Let us know in the comments section below.
Also read: Fighting back: Canberra takes action to tackle rising scams
