Loyalty Point Scams
One of the most recently detected scams involves targeting customers of loyalty point programs of well-known Australian companies such as Qantas, Coles and Telstra, according to a Scamwatch alert.
In the four months leading to July, 209 reports to Scamwatch were recorded involving the loyalty point scheme.
Customers receive a text message or email stating their loyalty points for a rewards program are expiring, with a link to a fake website encouraging customers to log-in and/or provide credit card details to access and use loyalty points.
Scammers then steal the customers’ points by stealing the login information alongside other personal data that can be used on more platforms to commit identity fraud.
Sporting Ticket Scams
The success of the Matildas has been watched in awe by millions across the country during the FIFA Women’s World Cup, but unfortunately scammers are using Australians’ sporting passion as a way to target people before large events.
The National Anti-Scam Centre issued a warning prior to the semi-finals in August, after receiving reports of scams targeting Matilda’s fans on social media.
“Understandably, Australians are inspired by the phenomenal success of the Matildas, but fans should be very careful when last-minute ticket shopping for hugely popular events, such as the World Cup finals,” ACCC Deputy Chair Catriona Lowe said.
Reports have been made of scammers posting tickets available for sale and then sending screenshots showing a ticket has been digitally manipulated and is a fraudulent copy. These posts are often made on fan pages, or even in response to individuals looking for tickets. Consumers may also be sent direct messages from scammers claiming to have tickets.
“There have also been reports of scammers claiming there is a problem with the payment and asking for it to be made again,” Lowe added.
It’s not a scam exclusive to the Matildas, either. This type of scam is also expected to be found during the AFL Finals season in September, and can occur for high-ticket entertainment events–such as Taylor Swift’s sell-out concert next February.
Bank Impersonation Scam
There have also been alarming reports made this year of Australians losing their life savings due to a highly sophisticated “impersonation scam” according to Scamwatch.
The scammers have been using new technology that makes calls appearing to come from a bank’s legitimate phone number, or by sending a text message that appears in the same SMS conversation thread as previous, genuine correspondence from an individual’s bank.
“We are incredibly concerned about bank impersonation scams because they can be so convincing, they are very hard to detect,” Lowe said.
“What’s equally worrying about this particular scam, is that it is emptying every last cent out of victims’ savings accounts, with losses averaging $22,000 and more than 90 reports of losses between $40,000 and $800,000. This causes both financial and emotional devastation.”
The bank impersonation scams have occurred with the big four banks as well as smaller financial institutions.
“It is critical to remember that no matter how legitimate the call or message seems, a bank won’t ask you to urgently transfer funds,” Lowe says.
Consumers are advised to hang up the phone if contacted and call the bank back on their legitimate number to verify the request. They should also refrain from clicking on any links in text messages.
Cost of Living Crisis and Superannuation Scams
As the cost of living crisis continues, cyber criminals are cashing in on unsuspecting Australians looking to make–or save–some extra coin.
A common scam targeting Australians is one related to superannuation, with promoters claiming to be able to help Aussies access their super funds early. To do so, the scammer tells the target that they will create a self-managed super fund on behalf of the individual, from which they will then be able to access and withdraw funds.
The scammer encourages Australians to accept the deal in order to access super that could then be used to pay for personal expenses and combat the cost of living crisis: such as paying off credit card debt or making additional contributions to mortgage repayments.
There are severe consequences for accessing your superannuation early through illegal activity, so the ATO urges Australians to check that any financial advisor is properly licensed before acting on advice.
To find out more, read our guide on when you can legally access your super early.
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