Money tips

Scams Awareness Week is a chance for all of us to talk more openly about scams and how to stay safe. Have you got a scam to share?

Now with generative AI, scammers are getting even more sophisticated with their fake websites and social media ads. In the last financial year, ASIC removed more than 19,400 online scams.

We can no longer rely on spelling mistakes, unknown phone numbers or email addresses to spot a scam.

Many scams look almost identical to communication from a real organisation, including the same logo and contact details.

Scammers will try to make it sound urgent to pressure you to act quickly. If you feel pressured to act quickly, this is the biggest warning sign. Stop and check.

The first thing you should do

If you think you’ve been scammed, contact your bank. Go to your local branch and make sure you’re phoning the correct number. Don’t click on the link or the numbers provided.

After ensuring your accounts are secure, you can report the scam to ScamWatch. ScamWatch also has lots of helpful information on scams.

If a scam is causing you money stress, you can speak to a financial counsellor. This is a free and confidential service to help you get your finances back on track.

Being scammed can take a toll on your emotional wellbeing. If you need someone to talk to (24 hours a day, 7 days a week), contact:

• Lifeline 13 11 14 or the online Crisis Support Chat
• Beyond Blue 1300 22 4636 or Beyond Blue website