Yahoo Finance Commonwealth Bank issues urgent warning over $2,540 tax ‘refund’
Scammers will often impersonate myGov and the ATO to try to steal your personal information, including your bank details.
Commonwealth Bank (CBA) is urging Aussies to “stay vigilant” this tax time. As millions of Aussies prepare to lodge their tax returns, scammers are looking to take advantage and will often trick people by claiming they are entitled to a refund.
New research from the major bank found nearly one in three Aussies failed to spot a tax scam. That’s despite the vast majority being confident they could spot a fake SMS or email.
Scammers will often impersonate myGov and the Australian Taxation Office (ATO) to “phish” for personal information, including your bank card details.
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In one example shared by CBA, the scammers claimed you were entitled to a $2,540 refund, while another claimed you received an "ATO reimbursement". Another email used myGov's branding to claim you had an “outstanding refund”.
However, when you clicked these links, you were taken to a fake website. You’d often be prompted to enter your card details and this ultimately allowed fraudsters to access your money.
Have you fallen victim to a scam? Contact tamika.seeto@yahooinc.com to share your story
CBA’s general manager of group fraud James Roberts said scammers were “opportunistic” and would actively try to capitalise on tax season.
“Everyone should keep an eye out for text messages and emails impersonating myGov and the ATO,” Roberts said.
“They may appear in a thread of legitimate messages from these organisations. The major red flag for this type of scam is the link, which differs considerably from the official myGov and ATO website addresses.
“If you’re unsure, contact the organisation on a verified phone number or via their official website or app, otherwise delete the text.”
Fake ATO, myGov scams rife
CBA’s research found around one in four Aussies had been exposed to a tax-related scam. The ATO said it is continuing to receive a high number of phishing scam reports that impersonate government agencies, with fake myGov emails the most commonly flagged.
The ATO and myGov won’t send you an SMS or email with a link to access online services. Instead, the ATO says these can be accessed directly by typing ato.gov.au or my.gov.au into your browser.
Aussies lost $2.74 billion to scams last year, with phishing scams accounting for $137.4 million in losses. Text messages were the most reported contact method, however, calls resulted in the highest reported losses at $116 million.
CBA recommends Aussies:
Stop to consider whether a call, email or text seems suspicious. Legitimate organisations won’t put pressure on you to act immediately.
Check the legitimacy of the message by asking someone you trust or contacting the organisation on a verified number. Don’t rely on the details provided in the message.
Reject or hang up on the caller, delete the email and block the phone number if you’re unsure.
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