Protect yourself from scam artists
Scams are a growing issue in Australia, and unfortunately, anyone can become a victim. Fraudsters are constantly evolving their tactics to deceive individuals, often using sophisticated methods that can be difficult to spot. However, by staying vigilant and informed, you can significantly reduce your risk of falling prey to scams. Here’s how to recognise and avoid scams to protect yourself and your finances.
Recognising Common Scams
Scammers are always looking for new ways to exploit people’s trust, but some common signs can help you identify a scam. Be cautious if:
- You receive unsolicited phone calls, emails, or messages from unknown sources.
- The offer may seem too good to be true, such as a prize you didn’t enter or a high-return investment opportunity.
- You are pressured to act quickly, such as being told to make a payment or provide personal information immediately.
- The communication contains poor grammar, spelling mistakes, or suspicious links.
In Australia, scams can range from phishing emails to fake job offers, lottery wins, and romance scams. According to the Australian Competition and Consumer Commission (ACCC), Australians lost $3.1 billion to scams in 2023, with a significant rise in online fraud.
Steps to Avoid Scams
While recognising scams is essential, taking proactive steps to protect yourself is equally crucial. Here are some simple but effective ways to avoid falling victim:
- Verify the source: Always double-check the legitimacy of any communication. Use official contact details to contact the organisation or person directly.
- Use strong passwords: To ensure the security of your online accounts, use strong, unique passwords. Consider using two-factor authentication where possible.
- Avoid sharing personal information: Be cautious about sharing sensitive details like your bank account number, passwords, or identification details, mainly via email or phone.
- Report suspicious activity: If you suspect a scam, report it to the relevant authorities immediately to prevent others from falling victim.
What to Do If You Fall Victim to a Scam
If you realise you’ve been scammed, acting quickly is essential. Contact your bank or financial institution immediately to report any unauthorised transactions. You should also report the scam to the appropriate authorities:
- Scamwatch: The Australian Competition and Consumer Commission (ACCC) runs Scamwatch, which provides information on current scams and allows you to report fraud.
- Australian Cyber Security Centre (ACSC): If the scam involves cybercrime, the ACSC can help you secure your online accounts and report the incident.
- Local Police: For more serious scams or frauds involving large sums of money, you should contact your local police station.
Reporting scams helps protect you and others by raising awareness and allowing authorities to track and prevent future fraudulent activities.
Stay Informed and Stay Safe
Recognising the signs of scams and taking proactive steps to protect yourself can significantly reduce your risk of fraud. Stay informed, stay cautious, and always report any suspicious activity to help combat scams in Australia.
If you believe you’ve encountered a scam, don’t hesitate to report it. For guidance, visit Scamwatch or call the ACCC at 1300 302 502.