Scams Awareness Week 26 – 30 August 2024

We are seeing an ever-increasing number of scams. According to the Australian National Anti-Scam Centre over 21,000 scams were reported in just the month of July 2024, totalling over $25M in losses. Around 80% of reported scams are via e-mail.

We are aware of scammers targeting myGov accounts for ATO scams.

The ATO have provided some hints on what to look out for:

• Do not click on any links in a message asking you to login to a government service such as myGov. The Australian Taxation Office (ATO) recently removed all hyperlinks in unsolicited outbound SMS. So, if you have received such a message containing a link claiming to be from the ATO, it is a scam.
• Be careful of requests for personal or financial information, especially if they claim to be urgent or time sensitive. The ATO will never ask for passwords, account numbers, or other sensitive data via email, SMS or by phone.
• Avoid downloading or opening attachments in suspicious emails. They can infect your computer and compromise the security of sensitive business information that can be stolen and later used to commit fraud.
• Look out for unusual transactions or interactions on your accounts. If you are ever unsure if the contact is legitimately from the ATO, do not engage with it and contact the ATO to verify it on 1800 008 540. You can also look at the ATO scam alerts.

There are also resources available at the Australian Government National Anti-Scam Centre and ScamWatch including The Little Book of Scams.

SW Accountants and Advisors encourages all clients to be alert for potential scams and to reach out to your advisor at SW should you have concerns.

“At SW we are dedicated to safeguarding our systems and client data. In an era where scams are becoming more sophisticated and frequent, protecting your personal information is paramount. If you receive any suspicious communications, always verify their authenticity before taking any action.”
– SW’s Chief Information Officer, Michael Fugaro