In the digital age, scams have become increasingly sophisticated, and unfortunately, the elderly are often the prime targets.

It's crucial to shine a light on the deceptive tactics scammers use to exploit the trust and sometimes the loneliness of our senior community.

One such tactic is a scheme that promises cash windfalls but only delivers heartache and financial loss.


Imagine the thrill of winning a prize. It's a feeling that can send a jolt of excitement through anyone, regardless of age.

However, for our seniors, who may be on fixed incomes or looking for a bit of good news, the allure of unexpected money can be particularly intoxicating.

Scammers prey on this vulnerability, concocting elaborate stories of lottery winnings, unexpected inheritances, or unclaimed prize money from competitions never entered.


The story shared by ANZ during Scams Awareness Week (August 26-30) is a sobering reminder of how close anyone can come to falling victim to these scams.

An elderly customer, lured by the promise of prize money, was on the brink of transferring $30,000 to a scammer.

Thankfully, ANZ's fraud detection systems and the ScamAssist team intervened, preventing a devastating loss.


The ‘prize money’ scam operates on a simple yet effective premise: convince the target that they've won a substantial sum of money, but to claim it, they must first pay a fee or provide sensitive personal information.

Scammers are not picky about their methods of communication. They'll use phone calls, emails, social media messages, and even pop-up ads to reach their potential victims.


How can you or your loved ones avoid falling prey to these scams? Here are some red flags to watch out for:

1. Unexpected contact: If you receive a message out of the blue claiming you've won a prize, be wary. Genuine competitions will not contact winners through such unsolicited means.
2. Pressure tactics: Scammers often create a false sense of urgency, insisting on immediate action. They know that given time to think, you might see through the scam.
3. Requests for personal information: Never give out passwords, PINs, or banking details. Legitimate organizations will not ask for sensitive information in this way.
4. Upfront payments: If you're asked to pay a fee to claim a prize, it's a scam. Real prizes do not come with a cost to the winner.
5. Suspicious links or downloads: Be cautious of messages that include links or ask you to download something. These could lead to phishing sites designed to steal your information.

To protect yourself and your loved ones, always take a moment to verify the legitimacy of any unexpected ‘prize’ claim.

Discuss any suspicious messages with a trusted family member or friend. If something seems too good to be true, it probably is.

Remember, scammers are cunning and relentless. They exploit kindness, trust, and sometimes the less tech-savvy nature of our seniors.

It's our duty to stay informed and vigilant, ensuring that our loved ones are aware of these scams and know how to avoid them.


As scams continue to evolve, Australians must remain vigilant against these cunning schemes.

A recent case shared by ANZ highlighted a significant increase in prize money scams, where unsuspecting individuals are tricked into believing they've won substantial cash rewards, only to be swindled out of their money.

Similarly, there was an alert about new, devious scam emails targeting the elderly, urging everyone to stay informed and cautious.

These scams are becoming increasingly sophisticated, making it crucial for all Australians, particularly seniors, to be aware and prepared to spot these deceptive tactics.
Have you or someone you know encountered a ‘prize money’ scam? How do you protect yourself from falling victim to this kind of trickery? Share your experiences in the comments below to help others recognise and avoid these fraudulent schemes.