Types of scams
A quick guide to the most common scams
You’ve probably been warned to watch out from scams – maybe even by us! But it can be hard to spot a scam, and it’s okay if you’re a bit confused.
Scams are basically a way of tricking people into handing over their money or personal information. Often, scammers pretend to be trusted people or legitimate businesses, and they make it their job to be very persuasive. And, to make things even harder, scams are constantly changing – using new technology, products, services and events to contact and persuade their victims.
While scams can take many forms, we’ve put together a list of the most common scams for you to look out for. Remember, it’s easier than you think to fall for a scam. If you do, there’s nothing to be embarrassed about. Just get in touch with us as quickly as possible so we can help.
Need some help?
If you’re worried that you may have been scammed, it’s important to act quickly.
Make sure to change all your important passwords, and get in touch with us as soon as you can to figure out how we can help.
Phishing and smishing scams
Phishing scams involve fraudulent emails or messages that appear to be from trusted sources, aiming to steal personal information like passwords or banking details. Smishing is similar but uses text messages.
Example: You receive an email that looks like it’s from a known company, asking you to verify your account details by clicking a link. The email uses the logo and branding to appear legitimate.
Protection tips:
- Verify the sender’s email address
- Avoid clicking on links in unsolicited emails or texts
- Do not provide SMS security codes
Investment and crypto currency scams
Investment scams promise high returns with little risk, often involving fake stockbrokers or financial advisers. Crypto scams are common, with scammers using fake exchanges or investment opportunities to steal money.
Example: A scammer posing as a financial adviser contacts you with a “guaranteed” high-return investment opportunity in cryptocurrency. They pressure you to invest quickly.
Protection tips:
- Research the investment and the adviser
- Be wary of high-return promises with low risk
- Check with regulatory authorities like ASIC
Online shopping scams
These scams involve fake online stores or ads that offer products at unrealistically low prices. Victims may receive counterfeit goods or nothing at all.
Example: You find an online store offering designer clothes at unbelievably low prices. After purchasing, you either receive counterfeit items or nothing at all.
Protection tips:
- Shop from reputable websites
- Look for secure payment methods (e.g. PayPal, credit cards)
- Check reviews and ratings of the seller
Phone porting scams
Phone porting scams occur when scammers transfer your phone number to another provider without your consent, gaining access to your accounts that use your phone number for verification.
Example: Your phone suddenly loses service, and you receive a notification that your number has been ported to another provider without your consent.
Protection tips:
- Set up a unique PIN with your phone provider
- Monitor your phone for unusual activity
- Contact your provider immediately if you lose service unexpectedly
Remote access scams
Scammers pretend to be from reputable companies, convincing you to grant them remote access to your computer. They then steal personal information or install malware.
Example: You get a call from someone claiming to be from tech support, saying your computer has a virus. They ask you to install remote access software so they can “fix” the issue.
Protection tips:
- Never grant remote access to unsolicited callers
- Verify the caller’s identity by contacting the company directly and always use contact information from a trustworthy source e.g. official company website
- Keep your antivirus software up to date
Bank impersonation scams
Scammers pose as bank representatives, using phone calls or messages that appear legitimate to trick you into providing personal information or transferring money.
Example: You receive a call from someone claiming to be from your bank, saying there’s suspicious activity on your account and asking for your account details to verify.
Protection tips:
- Hang up and call your bank using the number on their official website
- Never share personal information over the phone unless you initiated the call
- Never grant remote access to unsolicited callers
Employment scams
These scams offer fake job opportunities, often requiring upfront payments for training or equipment. They aim to steal money and personal information from job seekers.
Example: You find a job listing that promises high pay for minimal work. The “employer” asks for an upfront payment for training materials or equipment.
Protection tips:
- Research the company and job offer
- Be cautious of jobs that require upfront payments
- Verify the legitimacy of the job through official channels
For sale: Marketplace scams
These scams occur when scammers post fake listings for items they don’t own or never intend to deliver. These scams are very common on online marketplaces like Facebook and Gumtree.
Red flags:
- Low prices: Items listed at prices significantly lower than market value
- Items in demand: Concert tickets and hard to source items
- Pressure to act quickly: Urgent requests to make a purchase or payment
- Unverified sellers: Sellers with no reviews or a newly created profile
- Lack of details: Vague descriptions and limited photos of the item
- Poor communication: Sellers who avoid answering questions or provide inconsistent information
Protection tips:
- Research the seller: Check reviews and ratings and verify the seller’s profile
- Meet in person: If possible, inspect the item before purchasing
- Ask for detailed information: Request additional photos and details about the item
- Proceed with caution: Once you authorise a transfer, it may not be possible to get your money back
Worried you may have fallen for a scam?
Try to stay calm – there are still things you can do.
