How to avoid scams in 2024
Unfortunately, scams pose a significant challenge for many Australians. Fraudsters are perpetually devising new tactics to infiltrate our lives, compromising personal information and, ultimately, siphoning our hard-earned money. As reported by the ACCC, Australians fell victim to scams amounting to a staggering $3.1 billion in losses during 2022. You or someone close to you may have experienced the unfortunate consequences of a scam.
Navigating the evolving landscape of scams requires vigilance, especially for those who may be more vulnerable. In the past year, numerous data breaches, including those at Medibank, Optus, and Dymocks, have exposed private information to the dark web. This heightened vulnerability underscores the importance of scrutinising emails and text messages for authenticity. Disturbingly, individuals facing vulnerabilities experienced record losses in 2022. According to Scamwatch, individuals with disabilities reported financial losses of $33.7 million, marking a 71% increase from the previous year. Indigenous Australians reported losses of $5.1 million (up 5%), and culturally and linguistically diverse communities suffered losses of $56 million, reflecting a 36% increase.
According to the BDO Australian Scam Culture Report, 47% of scam targets are aged over 54, with 25% being over 65.
Recognising the signs of a scam can be challenging, but Scamwatch provides valuable tips:
Deals that seem too good to be true.
Heartbreaking stories to elicit sympathy and financial support.
Messages containing suspicious links or attachments.
Pressure tactics, urging quick decision-making.
Unusual payment methods like preloaded debit cards or virtual currencies.
Protecting yourself involves a three-step approach:
STOP: Scammers often impersonate trusted organizations or individuals. Pause and assess the situation.
THINK: Consider the possibility of a scam before taking any action. Avoid clicking on links or providing personal information; instead, access official platforms directly. Use screening apps like Truecaller to identify potential scam calls.
PROTECT: Act swiftly if you suspect a scam. Contact your bank for suspicious activities, report the scam to Scamwatch and the police, and reach out to ID Care at 1800 595 160 for guidance on minimising damage.
While the thought of falling victim to a scam is unsettling, knowledge is a powerful defense. Share this information with your loved ones and community to collectively stay vigilant and secure in the face of evolving scam tactics.
For assistance at home, don't hesitate to reach out to us at More Than Support. We are dedicated to helping individuals lead engaged and successful lives in the comfort of their homes. Give us a call – we're here to support you.
