In 2021, $12 million was lost in Australia as a result of false billing scams. More than $10 million was lost to remote access scams, and a record number of 45,000 phishing scams were reported.
Scams are constantly evolving and our growing use and reliance on technology provides scammers more opportunities to trick you into giving away your valuable personal information.
There are ways to reduce the risk of falling victim to fraudulent behaviour. Here are some top tips from BCG Board Member and Rural Bank Regional Manager Agribusiness for Western Victoria, Greg Kuchel:
“The main scenario we see is where an invoice sent via email from a supplier to their customer is intercepted and the payment details on the invoice are changed. This results in the customer unfortunately paying the scammer rather than the supplier. We’re seeing an increase in the frequency of cases such as these – every few weeks – and in most cases, it involves large sums of money which is unable to be retrieved.
“We’re also receiving reports of situations where a customer’s personal details are being stolen and then being used in an attempt to access their accounts online.
“There are some red flags to be aware of however, and steps you can take to help protect yourself:
- Protect your personal details, including online banking log in details – don’t write your password down, do change it frequently and don’t use the same one across multiple platforms.
- If you receive an email or invoice which says a supplier has changed their account details, always ring the business on a known and trusted number to confirm.
- Be careful with one-off purchases (i.e. machinery) and invoices sent via email – again, ring the business and check the account number.
- Be sceptical of ‘pushy’ requests for payment via email.
- Inform and educate staff members about scams, and limit the number of people with authority to buy or order something for your business.
- Keep your account records organised to make it easier to detect bogus invoices or transactions.
- Never click on links from text messages purporting to be your bank – if you think it may be legitimate, ring the bank first.
- If you are suspicious about a text message or email, do not call the number or reply – delete it immediately.
- Be aware of emails or text messages that do not address you by your proper name, contain typing or grammatical errors or that come from unrecognised email addresses or numbers.
- Don’t allow people to access your computer (remotely or physically) – especially your online banking.
- If you receive a phone call out of the blue about your computer and remote access is requested – hang up immediately!
- Never give personal, banking or online account details to anyone over the phone, unless you made the call to a trusted phone number.
- Do an internet search using the names or exact wording of the email or message to check for any references to a scam – many scams can be identified this way.
What should you do if you come across a scam?
- Report to Scamwatch – https://www.scamwatch.gov.au/report-a-scam
- If you have lost money to a scam, contact your bank or financial institution as soon as possible – the Australian Banking Association provides a summary of steps for consumers when making a complaint to their bank. If you are not satisfied by the response from your bank, you can make a complaint to the Australian Financial Complaints Authority.
- If you have lost personal information and you are concerned your identity may be compromised, you can contact IDCARE for free support on 1800 595 160.
- Consider contacting the platform on which you were scammed to report the scam –https://www.scamwatch.gov.au/get-help/where-to-get-help#report-scams-to-facebook-services
- If you or someone you know is experiencing anxiety, emotional concerns or distress about scams, contact Lifeline on 13 11 14 24 or Beyond Blue on 1300 22 4636.
