The Queensland Police Service (QPS), Financial and Cyber Crime Group (FCCG) is reminding the community to be vigilant and aware of financial scams, amid the current global financial climate.
With the recent market volatility, superannuation accounts have been particularly vulnerable, causing many Australians to see a decline in their retirement savings, and then look for opportunities to improve their situation.
Fraudsters use sophisticated practices to deceive victims, including impersonating financial institutions and creating fake investment opportunities.
FCCG Commander, Detective Superintendent Craig McGrath said scammers are likely to exploit the economic instability to target individuals, which often leads to further significant financial losses and emotional distress. Queenslanders need to remain cautious, seek independent financial advice, verify the identity of anyone requesting personal or financial information, and report any suspicious activities to authorities.
Tips to protect yourself:
- Be wary of the guarantee of high returns - If it sounds too good to be true, then it probably is.
- Get face-to-face financial advice from someone who has an Australian Financial Services licence, which you can check via the ASIC's website https://asic.gov.au/online-services/search-asic-registers/professional-registers/.
- If you're a victim of an investment scam, report it to your bank then to police via www.cyber.gov.au/report.
If you think you have lost money, immediately report the transaction/s to your bank or financial institution and change your online banking passwords to secure your online accounts.
Learn more about scams at www.scamwatch.gov.au and R U In Control
If you were contacted via social media, report it to the social media platform.
If you are concerned that your identity has been compromised, contact the national identity and cyber support service IDCARE at www.idcare.org
For online safety material, visit https://www.esafety.gov.au
To build your confidence and stay safe online, visit https://www.beconnected.esafety.gov.au
If you have information for police, contact Policelink by providing information using the online suspicious activity form 24hrs per day at www.police.qld.gov.au/reporting.
Report crime information anonymously via Crime Stoppers. Call 1800 333 000 or report online at www.crimestoppersqld.com.au.
