There is no age group immune from being scammed, although the 45+ age group reports losing the most money from being scammed. The most common ways to get scammed are over the phone, by email, over the internet or on a social media platform. Men tend to lose more money through a scam, but women are more likely to report a scam attempt.
Scammers look for opportunity and vulnerability, which is why investment and dating and romance scams netted $63 million in 2018, more than half of the total amount scammed.
1. Educate yourself
Visit SCAMWATCH and learn about scams, how they work, and who they target. Sign up for their email alerts on the latest scams. If you’re looking to invest, the Australian Securities and Investment Commission (ASIC) deals with scams involving investments, superannuation, financial advice and insurance.
2. Know a scam when you see one
Ignore out of the blue approaches and offers that sound too good to be true.
3. Secure your personal details
Don’t give out your passwords, bank details or personal information. Shred sensitive documents and lock your letterbox.
4. Smart online shopping
Beware very low prices, brand new social media stores selling very cheap items, and little or no information on privacy, terms and conditions and product reviews.
QBANK tip: The payment method is the biggest tip of all that you might be dealing with a scammer. Scammers want you to pay by untraceable means including money order, pre-loaded money cards, wire transfer or bitcoin.
5. Protect your credit card
Don’t save your password, always keep your credit card with you, and use a complicated PIN (not your birthday).
6. Be careful where you click
Scammers are getting more sophisticated and can even send emails that seem to come from someone you know. Think before you click on any email link or attachment if you don’t know who it’s from or what it is. Better safe than sorry!
Being scammed can be devastating. If you have been scammed, you’re not the only one and there are people to help.
Act fast! ASIC recommends you:
QBANK tip: If you have been the victim of identity theft, contact IDCARE, Australia and New Zealand’s national identity and cyber support service. You can also apply for a Commonwealth Victims’ Certificate which can help remove fraudulent transactions from your record.
To provide a further understanding of their roles, and an insight into the person behind the responsibilities and what they entail, QBANK presents a series of interviews with Members of our leadership team.
Today, QBANK announced that it will reduce interest rates on fixed rate home loan and deposit products.
To provide a further understanding of their roles, and an insight into the person behind the responsibilities and what they entail, QBANK presents the first in a series of interviews with members of our leadership team.