Online scams are a serious threat to Australians, who lose millions of dollars every year to fraudsters. Scammers use various techniques to trick people into giving them money or personal information, often by pretending to be from legitimate organisations or offering attractive deals. Here are some of the most common online scams that are targeting Australians and how to avoid them.

• PayID Marketplace Scams: PayID is a service that allows people to make instant payments using their phone number or email address. However, scammers are using fake online marketplaces to lure people into paying for goods or services that do not exist. They ask the buyer to use PayID and provide a fake confirmation code or receipt. The buyer then discovers that they have sent money to the scammer’s bank account and cannot get it back¹.
• Phishing Scams: Phishing is when scammers send emails, text messages, or phone calls that look like they are from genuine organisations, such as banks, government agencies, or online platforms. They ask the recipient to click on a link, open an attachment, or provide personal or financial information. The link or attachment may contain malware that infects the device or steals data. The information may be used to access the recipient’s accounts, steal their identity, or commit fraud².
• Linkt/Toll Scams: Linkt is a toll road operator in Australia that allows drivers to pay for their tolls online or via an app. Scammers are sending fake emails or text messages that claim to be from Linkt and ask the recipient to pay an overdue toll or update their payment details. The message contains a link that leads to a fake website that collects the recipient’s credit card information or personal details³.
• Family Impersonation or “Hi Mum” Scams: This is a scam where scammers contact people via social media, email, or phone and pretend to be a family member in need of urgent help. They may claim to have been in an accident, arrested, kidnapped, or stranded overseas. They ask the person to send them money via wire transfer, gift cards, or cryptocurrency. They may also ask the person to buy expensive items such as phones or laptops and send them to an address⁴.

To protect yourself from these and other online scams, you should:

• Be wary of unsolicited messages or calls that ask you to pay money, provide personal information, or click on links or attachments.
• Verify the identity of the sender or caller by contacting them directly using official contact details from their website or app.
• Do not use payment methods that are hard to trace or recover, such as wire transfers, gift cards, or cryptocurrency.
• Do not share your passwords, PINs, security codes, or verification codes with anyone.
• Use strong and unique passwords for your online accounts and enable two-factor authentication if possible.
• Install security software on your devices and keep them updated.
• Report any suspicious messages or calls to Scamwatch⁵, ReportCyber, or the organisation they claim to be from.

Online scams can cause significant financial and emotional harm to Australians. By being aware of the common scams and how to avoid them, you can protect yourself and your loved ones from falling victim to fraudsters.

For our clients – if there are ever any questions with regards to your investments and communications that you are uncertain of, please call our office before taking any action.

Chris Mann