Beware of financial scams (August 2009)

Economic times are tough enough without going through the hardship of being caught by a financial scam, but that’s exactly what is happening to some unsuspecting people.

The common ploy with all these scams is to trick people to disclose their personal bank account details, so that accounts can be raided. A scam email that purports to come from the Australian Tax Office (ATO) and promises a tax refund of $568 is currently doing the rounds.

How do you tell real communication from scams?

In general, if you are asked to provide information such as account details and other personal information you should be suspicious. Be particularly wary if the communication is in the form of an unsolicited email from the ATO, banks or other financial institution. If in doubt, phone the institution in question.

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