‘ATO scams’ rose 900% in 2018 according to ACCC


The scam and scammers are clever.  Don’t be complacent and think this can only happen to others.  Unfortunately even some of our clients with robust administrative practices have been caught out.


“Consumers lost $86 million just to investment scams in 2018. Australians lost nearly half a billion dollars to scammers in 2018, but that figure is just “the tip of the iceberg”, the consumer watchdog has warned.


Key points:


– Number of ATO impersonator scams surged 900 per cent last year


– Investment scams resulted in $86m worth of losses to consumers


– Fraudsters earned at least $60.5m from dating and romance scams


– Consumers were cheated out of (at least) $489 million last year — a 44 per cent jump …”


“How to protect yourself from scams:


– If you receive a phone call or email out of the blue from someone claiming to be from the Commonwealth DPP or Australian Taxation Office telling you about an arrest warrant, hang up.


– If you have any doubts about the identity of any caller who claims to represent a government department, contact the body directly.


– Don’t rely on numbers, email addresses or websites provided by the caller — find them through an independent source such as a phone book or online search.


– Never send money via wire transfer to anyone you do not know or trust.


– Never give your personal, credit card or online account details over the phone unless you made the call and the phone number came from a trusted source …”


“If you think you have provided your account details to a scammer, contact your bank or financial institution immediately …”


Read the full article by David Chau here

Article Source: Scamwatch, ACCC



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