Staying vigilant against Scams

This is a good article and a timely reminder to stay vigilant against falling prone to scams. A Victorian Police officer has revealed the human face – and full extent – of the enormous problem.

The article has input from a Victorian Crime Investigation Unit Police officer who said “These people are intelligent, and they are just ashamed and embarrassed they’ve been scammed,” Detective Faure said.

The official Scamwatch agency, run by the ACCC, has reported an 89 per cent jump in scams this year compared to the same period last year.

Losses had already surpassed those for the entirety of 2020: $175.6 million.

“I’m hearing so many stories of people losing their life savings, it’s breaking my heart,” Detective Faure told Yahoo Finance.

You’re most at danger from phone scams

Whilst we are always trying to be careful about emails, it is interesting that phone scams have exploded, accounting for 31 per cent of all total losses. That’s more than $63 million.

The Detective’s 5-step scam safety test

Detective Faure said although scams were becoming so sophisticated, there are some key warning signs to look out for.

If you are contacted by anyone, anyway, virtually about anything, apply these five scam safety techniques:

1. Slow it down if they’re talking fast and you feel pressured. Only criminals will try to rush or panic you.
2. Take five and think it through.
3. Run it past a friend, family member or even a colleague. Have they had a similar call recently?
4. Google search any of the scams above and Scamwatch will tell you exactly what is happening and how.
5. Just say, “I’ll call you back”, then search for an official phone number online and never use the number they have provided.

For more information, read the full article:

https://au.finance.yahoo.com/news/breaking-my-heart-police-insider-on-aussies-losing-life-savings-to-scams-000044720.html