In our modern, interconnected world, marked by extensive digitalisation, maintaining a constant state of vigilance is of crucial importance to safeguard against financial fraud and deception.

Regrettably, even individuals who exercise utmost caution can find themselves unexpectedly entangled in a web of deceit, their lives forever changed by a single deceptive phone call, email or SMS.

Scammers often employ deceptive tactics through phone calls, impersonating trusted institutions or individuals to trick unsuspecting victims into divulging sensitive banking information. Image by Tara Winstead from pexels

According to Financial Services Minister Stephen Jones, scammers continuously enhance their tactics, displaying increasing levels of sophistication.

He said, ‘A cyber attack is when somebody breaks into your house and tries to steal your stuff. A scam is when somebody opens the front door and lets that person in.’

He added, ‘You've got to use a different approach and a different set of strategies.’

As a result, the current cyber security strategy implemented by the government requires necessary modifications to effectively address this evolving threat landscape.

In a troubling disclosure, it has come to light that Australians suffered substantial financial losses of over an estimated $3 billion due to fraudulent activities carried out by digital scammers solely within the previous year.

Among these scams, investment-related frauds stood out as the primary culprits, inflicting a devastating blow of $1.5 billion on Australia's economy.

With a deep concern that these figures may escalate at an alarming rate, the government took decisive action by establishing the National Anti-Scam Centre.

The Australian Competition and Consumer Commission (ACCC) announced that representatives from various sectors within both industry and government will be invited to join the task force.

It is crucial to remain vigilant, exercise caution, and never share personal or financial details over the phone unless absolutely certain of the caller's legitimacy. Image from shutterstock

The operation is set to span a six-month period, during which the National Anti-Scam Centre will diligently work towards its objectives. Upon completion, the Centre will provide comprehensive updates regarding its outcomes.

Their participation will enable the sharing of critical information, fostering collaboration in an earnest endeavour to mitigate financial losses caused by scams.

ACCC Deputy Chair Catriona Lowe said, ‘We will have exactly no more and no less than the experts we need around the table to solve the problem.’

The newly established Anti-Scam Centre is dedicated to building bridges and fostering collaboration in order to create a robust defence against scams.

Esteemed organisations such as the ACCC (Australian Competition and Consumer Commission) and ASIC (Australian Securities and Investments Commission) are poised to contribute their expertise and resources to strengthen this collective effort against fraudulent activities.

In a rigorous examination, ASIC has raised concerns and issued a warning to banks, urging them to strengthen their security measures.

ASIC has closely scrutinised the approach of banks in dealing with scams and accused them of leaving victims feeling abandoned.

ASIC Commissioner Danielle Press said ‘Scam victims were not always supported well by the banks. We are calling on the banking sector to do better, to improve their approaches and to deal with scams.’

The federal government is also actively urging the private sector to step forward and actively participate in the battle against these digital outlaws.

It is essential that not only banks but also telecommunication companies and social media platforms uphold a high standard of conduct in this fight against scams.

Collaboration and commitment from all sectors are crucial in order to effectively tackle this pervasive issue.

Key Takeaways

• The Australian government has launched a new National Anti-Scam Centre, focusing initially on investment scams that cost Australians over $1 billion a year.
  
• A collaborative taskforce consisting of experts from public agencies and private industries will work to tackle scamming practices.
  
• The Australian Competition and Consumer Commission (ACCC) and ASIC (Australian Securities and Investments Commission) have called for banks to enhance their efforts to protect customers from scams.

Have you faced these scammers head-on? We’d love to hear about your experiences and tips for staying safe.

Stay smart, vigilant and informed.

 

[fourwb]

There needs to be an elite army unit to hunt down scammers and hackers and kill them. Do not put them before a court for some halfwit judge to give them a slap on the wrist. Simply kill the scum.

 

[Sheenagh]

In our modern, interconnected world, marked by extensive digitalisation, maintaining a constant state of vigilance is of crucial importance to safeguard against financial fraud and deception.

Regrettably, even individuals who exercise utmost caution can find themselves unexpectedly entangled in a web of deceit, their lives forever changed by a single deceptive phone call, email or SMS.

View attachment 24020

Scammers often employ deceptive tactics through phone calls, impersonating trusted institutions or individuals to trick unsuspecting victims into divulging sensitive banking information. Image by Tara Winstead from pexels

According to Financial Services Minister Stephen Jones, scammers continuously enhance their tactics, displaying increasing levels of sophistication.

He said, ‘A cyber attack is when somebody breaks into your house and tries to steal your stuff. A scam is when somebody opens the front door and lets that person in.’

He added, ‘You've got to use a different approach and a different set of strategies.’

As a result, the current cyber security strategy implemented by the government requires necessary modifications to effectively address this evolving threat landscape.

In a troubling disclosure, it has come to light that Australians suffered substantial financial losses of over an estimated $3 billion due to fraudulent activities carried out by digital scammers solely within the previous year.

Among these scams, investment-related frauds stood out as the primary culprits, inflicting a devastating blow of $1.5 billion on Australia's economy.

With a deep concern that these figures may escalate at an alarming rate, the government took decisive action by establishing the National Anti-Scam Centre.

The Australian Competition and Consumer Commission (ACCC) announced that representatives from various sectors within both industry and government will be invited to join the task force.

View attachment 24021

It is crucial to remain vigilant, exercise caution, and never share personal or financial details over the phone unless absolutely certain of the caller's legitimacy. Image from shutterstock

The operation is set to span a six-month period, during which the National Anti-Scam Centre will diligently work towards its objectives. Upon completion, the Centre will provide comprehensive updates regarding its outcomes.

Their participation will enable the sharing of critical information, fostering collaboration in an earnest endeavour to mitigate financial losses caused by scams.

ACCC Deputy Chair Catriona Lowe said, ‘We will have exactly no more and no less than the experts we need around the table to solve the problem.’

The newly established Anti-Scam Centre is dedicated to building bridges and fostering collaboration in order to create a robust defence against scams.

Esteemed organisations such as the ACCC (Australian Competition and Consumer Commission) and ASIC (Australian Securities and Investments Commission) are poised to contribute their expertise and resources to strengthen this collective effort against fraudulent activities.

In a rigorous examination, ASIC has raised concerns and issued a warning to banks, urging them to strengthen their security measures.

ASIC has closely scrutinised the approach of banks in dealing with scams and accused them of leaving victims feeling abandoned.

ASIC Commissioner Danielle Press said ‘Scam victims were not always supported well by the banks. We are calling on the banking sector to do better, to improve their approaches and to deal with scams.’

The federal government is also actively urging the private sector to step forward and actively participate in the battle against these digital outlaws.

It is essential that not only banks but also telecommunication companies and social media platforms uphold a high standard of conduct in this fight against scams.

Collaboration and commitment from all sectors are crucial in order to effectively tackle this pervasive issue.

Key Takeaways

• The Australian government has launched a new National Anti-Scam Centre, focusing initially on investment scams that cost Australians over $1 billion a year.
• A collaborative taskforce consisting of experts from public agencies and private industries will work to tackle scamming practices.
• The Australian Competition and Consumer Commission (ACCC) and ASIC (Australian Securities and Investments Commission) have called for banks to enhance their efforts to protect customers from scams.

Have you faced these scammers head-on? We’d love to hear about your experiences and tips for staying safe.

Stay smart, vigilant and informed.

There needs to be an elite army unit to hunt down scammers and hackers and kill them. Do not put them before a court for some halfwit judge to give them a slap on the wrist. Simply kill the scum.

Yep I am with you.

 

[Sheenagh]

In our modern, interconnected world, marked by extensive digitalisation, maintaining a constant state of vigilance is of crucial importance to safeguard against financial fraud and deception.

Regrettably, even individuals who exercise utmost caution can find themselves unexpectedly entangled in a web of deceit, their lives forever changed by a single deceptive phone call, email or SMS.

View attachment 24020

Scammers often employ deceptive tactics through phone calls, impersonating trusted institutions or individuals to trick unsuspecting victims into divulging sensitive banking information. Image by Tara Winstead from pexels

According to Financial Services Minister Stephen Jones, scammers continuously enhance their tactics, displaying increasing levels of sophistication.

He said, ‘A cyber attack is when somebody breaks into your house and tries to steal your stuff. A scam is when somebody opens the front door and lets that person in.’

He added, ‘You've got to use a different approach and a different set of strategies.’

As a result, the current cyber security strategy implemented by the government requires necessary modifications to effectively address this evolving threat landscape.

In a troubling disclosure, it has come to light that Australians suffered substantial financial losses of over an estimated $3 billion due to fraudulent activities carried out by digital scammers solely within the previous year.

Among these scams, investment-related frauds stood out as the primary culprits, inflicting a devastating blow of $1.5 billion on Australia's economy.

With a deep concern that these figures may escalate at an alarming rate, the government took decisive action by establishing the National Anti-Scam Centre.

The Australian Competition and Consumer Commission (ACCC) announced that representatives from various sectors within both industry and government will be invited to join the task force.

View attachment 24021

It is crucial to remain vigilant, exercise caution, and never share personal or financial details over the phone unless absolutely certain of the caller's legitimacy. Image from shutterstock

The operation is set to span a six-month period, during which the National Anti-Scam Centre will diligently work towards its objectives. Upon completion, the Centre will provide comprehensive updates regarding its outcomes.

Their participation will enable the sharing of critical information, fostering collaboration in an earnest endeavour to mitigate financial losses caused by scams.

ACCC Deputy Chair Catriona Lowe said, ‘We will have exactly no more and no less than the experts we need around the table to solve the problem.’

The newly established Anti-Scam Centre is dedicated to building bridges and fostering collaboration in order to create a robust defence against scams.

Esteemed organisations such as the ACCC (Australian Competition and Consumer Commission) and ASIC (Australian Securities and Investments Commission) are poised to contribute their expertise and resources to strengthen this collective effort against fraudulent activities.

In a rigorous examination, ASIC has raised concerns and issued a warning to banks, urging them to strengthen their security measures.

ASIC has closely scrutinised the approach of banks in dealing with scams and accused them of leaving victims feeling abandoned.

ASIC Commissioner Danielle Press said ‘Scam victims were not always supported well by the banks. We are calling on the banking sector to do better, to improve their approaches and to deal with scams.’

The federal government is also actively urging the private sector to step forward and actively participate in the battle against these digital outlaws.

It is essential that not only banks but also telecommunication companies and social media platforms uphold a high standard of conduct in this fight against scams.

Collaboration and commitment from all sectors are crucial in order to effectively tackle this pervasive issue.

Key Takeaways

• The Australian government has launched a new National Anti-Scam Centre, focusing initially on investment scams that cost Australians over $1 billion a year.
• A collaborative taskforce consisting of experts from public agencies and private industries will work to tackle scamming practices.
• The Australian Competition and Consumer Commission (ACCC) and ASIC (Australian Securities and Investments Commission) have called for banks to enhance their efforts to protect customers from scams.

Have you faced these scammers head-on? We’d love to hear about your experiences and tips for staying safe.

Stay smart, vigilant and informed.

So why the hell are the ATO and ACCC not interested into the goings on of Bartercard. The ACCC says its not cash so its not their problem BUT wait for it, the ATO wants the gst on each Bartercard transaction paid to them, BUT wait didnt you get the last memo, its not cash!!!! Never in my life have I ever dealt with two departments that are totally unable to understand each other so I am not expecting too much out of this.

 

[Rosscoesmiff]

I received a scam text that seemed super legitimate regarding an undeliverable package from Australia Post. It said to input personal details and it supplied a Tracking number. So I went to the local PO and was told that number didn’t exist. I just deleted it and moved on with my life.

 

[Mickbear88]

Scammers are already finding serious dfficulties plying thir trade these days, but they are moving on to more direct methods. A neighour had a caller at our door saying he was an off duty policeman and working for the ATO. He said he had powers of arrest if the guy who answered the door not pay $750 tax to him immediately. He got pushed down the steps, hosed down and kicked out the gate. There is a current warning regarding these criminals, but it is advising us to not hurt them in any way. So it seems they are being protected. Some people have paid up. Woe betide him if he turns up here.

 

[Gsr]

Unfortunately my sister fell victim to a scam last night from someone claiming to be her bank. She clicked the link, gave out her account details and they emptied her account of her job seeker payment, that’s all the money she had, so they didn’t get too much. Now she has no money til her next payment in 10 days. She contacted her bank, closed that account and set up a new one. After realising what she had done she tried to stop the money going out of her account but was too late. The bank isn’t interested in trying to track down the scammers. I have had to give her some money for food, fuel for her generator as she lives in a shed with no power. I would like to get hold of these scum who do this to people, they could all do with a flogging and that would be being lenient with them. My sister is usually a wake up to these types of scams but is on some heavy duty pain medication at the moment so the scammers got her at a vulnerable time.

 

[Mickbear88]

Unfortunately my sister fell victim to a scam last night from someone claiming to be her bank. She clicked the link, gave out her account details and they emptied her account of her job seeker payment, that’s all the money she had, so they didn’t get too much. Now she has no money til her next payment in 10 days. She contacted her bank, closed that account and set up a new one. After realising what she had done she tried to stop the money going out of her account but was too late. The bank isn’t interested in trying to track down the scammers. I have had to give her some money for food, fuel for her generator as she lives in a shed with no power. I would like to get hold of these scum who do this to people, they could all do with a flogging and that would be being lenient with them. My sister is usually a wake up to these types of scams but is on some heavy duty pain medication at the moment so the scammers got her at a vulnerable time.

There is not much effort put into catching these filthy crooks-by the banks or the police. When the Medibank records were obtained by a Russian scam organisation the AFP were given information on the gangs identity and other details. The AFP declined to follow it up, claiming that the Russian authorities did not give due regards to the human rights of these criminals. So it seems our police are protecting them.