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In today’s digital world, scammers can quickly change their methods to trick you into handing over your personal information. Here’s what the Australian Taxation Office (ATO) says to watch out for to protect your details this tax time.
In the past, scammers tended to focus on payments and financial transactions.
Now, they’re more likely to want your personal details like your name, address, date of birth, tax file number (TFN) and your myGov login details.
Scammers impersonate trusted organisations, businesses, family, friends and even government organisations, sending messages that look real with official logos and language, all designed to deceive you.
Generally, tax time is when ATO impersonation scams are at their peak.
Scammers take advantage of tax time because people are lodging their tax returns, updating their personal information, expecting to hear from the ATO and anticipating refunds.
They’ll attempt to convince you to click on links, complete online forms or open attachments to obtain your personal information so they can steal your identity and commit fraud in your name.
Currently, email is the main channel scammers use to impersonate the ATO. In the last year, the ATO has seen more than a 300% increase in impersonation scams.
Victims may suffer financial loss through refund fraud, theft of their superannuation or difficulty getting a loan due to damaged credit ratings.
There are also psychological impacts, with many individuals experiencing stress and anxiety.
Remember, the ATO:
This article does not constitute financial product advice or tax advice. You should seek independent financial or taxation advice where appropriate.
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