How to avoid scams in Australia

How to avoid scams in Australia

Louis: Your account has been suspended. Click the link below to re-verify your account. Okay.

[very dramatic music]

Liana: No, wait, Louis, don't click it. It could be a scam.

Louis: Screaming, crying, throwing up. Did you just say a scam?

Louis Voiceover: ANZ presents How to avoid scams in Australia. It's okay. I didn't know either.

Louis: Liana, what would I do without you? But you have to hand it to me, this looks like a real text message. It even appears under a legit message thread. How do I know it's fake?

Liana: There are over 100,000 SMS scams reported in Australia every year and a lot of them ask you to log into your bank account via text. I know from working at a bank you'll never be sent a link to log into your bank account via text. The minute someone asks you to share any of your personal information via SMS, you should be suspicious, especially when it comes to your financial information.

Louis: Do people fall for it? I mean, I know I almost did.

Liana: Yeah, they do. I mean, around $63 million is lost in Australia every year through phone-based scams.

Louis: Did you say $63 million through phone scams? It's wild out there.

Liana: Yeah, it's wild out there. And they can get more sophisticated, too. There have been a few cases where people have received calls from people pretending to be superannuation funds and they have convinced people to transfer their lifetime retirement savings out of their superannuation funds and into their account. You should always be suspicious of any big organisation or government body who calls about personal stuff or threatens you or tries to gain access to your computer or online banking. But look, there's no need to live in fear. It's just about knowing what red flags to look out for.

Louis: Don't even get me started about red flags Liana, like I can walk into a room full of red flags and be like what shade of red? You know, it's a tough one for me. I'm going to need your help with this one.

Liana: Yep. I can help. I’ll just... Here’s something I prepared earlier.

Louis: Gold star Liana! This is impressive.

Liana: I know, right? So if it's a text or an email, think about if you are expecting the message, And is it from someone that you know and trust? Always keep an eye out for weird fonts, spelling mistakes, web addresses that don't look legit. So, like this comic sans font in, like, pink writing, it’s suss? Yeah. You know, use your common sense. I mean, the AFP is probably not going to text you and say you're under arrest. If it's a phone call, look out for private numbers. Dialling codes that you don't recognise, maybe prerecorded messages. Anything that asks for your personal information, and certainly those magic prizes as well. I mean, if anything sounds too good to be true, it probably is. There is also this really useful rule that I used to try and remember how to avoid scams. It's called PACT. So, Pause before sharing any personal information. A. Activate two layers of security. C. Call-out any suspicious messages. And T. Turn on automatic software updates.

Louis: That's actually really helpful advice. What do I do with the text, though? Like it's just sitting there.

Liana: Well, that one you should report immediately to Scamwatch and consider calling the bank or whoever it's from to report it to them as well. If you can. And, you know. Block that number.

Louis: One thing about me is I love blocking. A lot of DMs. Block, block, block! So I will block. So good riddance. Huh! Well, if you found this video helpful, subscribe to our channel and watch me as I upskill on a whole lot of other financial wellbeing topics. Oh, and don't forget to click the link in the description for some more helpful resources.

Liana: Please don't block me.

Louis: You're sorted.

Liana: Great.

Louis: I could never block you.

Liana: Great.

Louis: I love you.

Liana: Great.