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How to protect yourself from internet scams in 2024

Do you feel like you're bombarded with emails and messages from scammers? If so, you're not alone. According to the latest data from the Australian government, reported cases of scams rose a staggering 25% last year.

Scammers are skilled at tricking you out of your money, and they're getting more sophisticated. Knowing the signs of a scam can help you identify when something doesn't feel right.

Scamwatch, run by the National Anti-Scams Centre (NASC) says:

• Stop - Don't give money or personal information to anyone if unsure
• Think - Ask yourself could the message or call be fake?
• Protect - Act quickly if something feels wrong

Here are some ways to help you to stay safe and reduce your risk of being scammed.

Protect your personal information

• Use strong passwords
• Shred your personal documents.
• Secure your devices with security software and use secure websites.
• Monitor your bank transactions, credit card and online shopping accounts.
• Check your credit report and your superannuation balance regularly.
• Update privacy settings on your social accounts.
  

Do your own research

• Check before you invest — Always check any investment opportunity to make sure it's real, especially if approached through social media.
• Ask questions — Be wary if someone avoids answering questions about the legitimacy of their offer.
• Get advice — Get independent financial advice before you invest.
  

Don't rush into a quick decision

• Don't click — on any links in suspicious text messages or emails.
• Be wary of unexpected contact — particularly if you've been contacted through social media. You don't know who you're dealing with.
• Take your time — Don't be pressured to make a quick decision with your money you may regret later.
• Trust your instincts — If an offer sounds too good to be true, it probably is.
• Ask someone — If you're unsure about something, talk to someone you trust about it. They may see red flags that you don't.
• Check payments — Be suspicious if you're asked to pay for something with gift cards or cryptocurrency.

What are some common scams and how to spot them?

Impersonation scams
Scammers often pose as trusted entities, exploiting the trust we place in familiar institutions. From fake emails claiming to be your bank to fraudulent messages from government agencies, impersonation scams prey on our willingness to comply with seemingly official requests.


Investment scams
The promise of quick and substantial returns attracts many, but investment scams can lead to significant financial losses. From Ponzi schemes to fake cryptocurrency opportunities, it's crucial to thoroughly research before putting your money into any investment.


Buyer-seller scams
In the digital marketplace, buyer-seller scams are on the rise. Whether you're buying or selling goods online, scammers may use fake payment methods, misrepresent products, or disappear after receiving payment. Vigilance is key in navigating the online marketplace safely.

If you'd like to discuss this email or you receive something that might be an investment-related scam and you want a little guidance, please let us know.