Insight

Three potential scams to be aware of as we head into tax time

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As we head towards June 30 and the end of yet another financial year, it’s time for the annual reminder – avoid getting scammed.
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Scammers will be increasing their activities – perhaps even more so given the tightening fiscal position for many people of late. 

So, with that in mind, here are some scams to be aware of:

Tax refunds

Scammers may send emails, text messages or call you directly claiming to be from the Australian Taxation Office (ATO) and offering a tax refund. These emails, text messages and calls are often poorly written, may contain grammatical errors or from someone overseas. If you receive an email or text message from someone claiming to be from the ATO, do not click on any links or provide any personal information. 

Impersonation

Scammers may contact you pretending to be an employee of the Government with purpose of ‘fixing’ your myGov account because it has been placed ‘on hold’. They will direct you to a scam website to obtain your username and password, change your personal details (like your bank account) on the real myGov site and submit fraudulent tax returns or attempt to steal superannuation.

Charity donations

Scammers often set up fake websites or social media accounts masquerading as legitimate charities asking for donations to help people in need. However, the money you donate goes to the scammers instead of the charity. In addition, they often collect significant personal identity information and your credit card details making you a target for future scams or near-term credit card fraud.

You can protect yourself from these scams by being aware of them and taking steps to avoid them. Here are a few tips:

  • Be suspicious of any unsolicited emails or text messages from people you don't know – the ATO will never send you a link or ask for personal details via social media, SMS or email. It’s likely the same for your bank too.
  • Never click on links in unsolicited emails or text messages. Contact the ATO or your accountant directly to verify the authenticity of the message.
  • Never provide personal information, such as your credit card number, Tax File number, username or password to anyone you don't know or trust.
  • Use a strong password and two-factor authentication.
  • Never give someone your two-factor code. This will help protect your accounts from unauthorised access.
  • Never process a payment or transaction on the phone with someone where you did not initiate contact.
  • Only donate to reputable and legitimate charities. Check the Australian Charities and Not-for-profits Commission register if you’re unsure of the legitimacy.

By following these tips, you can help protect yourself from end of financial year scams. Learn more about our Cyber Resilience services today.

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