In light of ongoing global financial uncertainty, the Queensland Police Service (QPS) Financial and Cyber Crime Group (FCCG) are urging residents to remain vigilant and protect themselves from a rising tide of financial scams.
Recent market instability has impacted many Australians’ superannuation accounts, prompting some to seek alternative ways to recover their losses. Unfortunately, scammers are taking advantage of this uncertainty by luring unsuspecting victims with fake investment opportunities and fraudulent schemes.
FCCG Commander, Detective Superintendent Craig McGrath, said fraudsters are becoming increasingly sophisticated, often impersonating legitimate financial institutions and offering seemingly lucrative investment deals.
“Scammers thrive during times of economic instability,” Superintendent McGrath said.
“They use pressure tactics and professional-looking material to convince individuals to part with their hard-earned money and the consequences can be devastating – both financially and emotionally.”
Queenslanders are encouraged to take proactive steps to protect themselves:
• Be sceptical of guaranteed high returns – if it sounds too good to be true, it probably is.
• Only seek financial advice face-to-face from someone who holds an Australian Financial Services Licence. You can check licences on the ASIC website at asic.gov.au.
• Report scams immediately – if you’ve fallen victim to a scam, contact your bank, then report it at www.cyber.gov.au/report.
• Secure your accounts – if you suspect you’ve lost money or been scammed, notify your financial institution and update your online banking passwords.
• Know where to get help and visit www.scamwatch.gov.au for more information. If you believe your identity has been compromised, contact IDCARE at www.idcare.org.
If you’ve been contacted by a scammer via social media, be sure to report the account to the platform and for additional tools to improve your online safety and confidence, visit the eSafety Commissioner’s website at www.esafety.gov.au or www.beconnected.esafety.gov.au.
The QPS Financial and Cyber Crime Group are warning Queenslanders to be vigilant online (Photo Source: UnSplash)
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