Search

What ‘psychological warfare’ tactics do scammers use, and how can you protect yourself?

<a href="https://theconversation.com/profiles/mike-johnstone-106590">Mike Johnstone</a>, <a href="https://theconversation.com/institutions/edith-cowan-university-720">Edith Cowan University</a> and <a href="https://theconversation.com/profiles/georgia-psaroulis-1513050">Georgia Psaroulis</a>, <a href="https://theconversation.com/institutions/edith-cowan-university-720">Edith Cowan University</a> Not a day goes by without a headline <a href="https://www.vice.com/en/article/qjvaym/people-share-worst-scam-stories">about a victim being scammed</a> and losing money. We are constantly warned about new scams and staying safe from cybercriminals. Scamwatch has <a href="https://www.scamwatch.gov.au/research-and-resources/tools-resources/online-resources/spot-the-scam-signs">no shortage of resources</a>, too. So why are people still getting scammed, and sometimes spectacularly so? Scammers use sophisticated psychological techniques. They exploit our deepest human vulnerabilities and bypass rational thought to tap into our emotional responses. This “<a href="https://www.thecut.com/article/amazon-scam-call-ftc-arrest-warrants.html">psychological warfare</a>” coerces victims into making impulsive decisions. Sometimes scammers spread their methods around many potential victims to see who is vulnerable. Other times, criminals focus on a specific person. Let’s unpack some of these psychological techniques, and how you can defend against them. <h2>1. Random phone calls</h2> Scammers start with small requests to establish a sense of commitment. After agreeing to these minor requests, we are more likely to comply with larger demands, driven by a desire to act consistently. The call won’t come from a number in your contacts or one you recognise, but the scammer may pretend to be someone you’ve engaged to work on your house, or perhaps one of your children using a friend’s phone to call you. If it is a scammer, maybe keeping you on the phone for a long time gives them an opportunity to find out things about you or people you know. They can use this info either immediately or at a later date. <h2>2. Creating a sense of urgency</h2> Scammers fabricate scenarios that require immediate action, like claiming a bank account is at risk of closure or an offer is about to expire. This tactic aims to prevent victims from assessing the situation logically or seeking advice, pressuring them into rushed decisions. The scammer creates an artificial situation in which you are frightened into doing something you wouldn’t ordinarily do. Scam calls <a href="https://theconversation.com/we-have-filed-a-case-under-your-name-beware-of-tax-scams-theyll-be-everywhere-this-eofy-162171">alleging to be from the Australian Tax Office</a> (ATO) are a great example. You have a debt to pay (apparently) and things will go badly if you don’t pay right now. Scammers play on your emotions to provoke reactions that cloud judgement. They may threaten legal trouble to instil fear, promise high investment returns to exploit greed, or share fabricated distressing stories to elicit sympathy and financial assistance. <h2>3. Building rapport with casual talk</h2> Through extended conversation, scammers build a psychological commitment to their scheme. No one gets very far by just demanding your password, but it’s natural to be friendly with people who are friendly towards us. After staying on the line for long periods of time, the victim also becomes cognitively fatigued. This not only makes the victim more open to suggestions, but also isolates them from friends or family who might recognise and counteract the scam. <h2>4. Help me to help you</h2> In this case, the scammer creates a situation where they help you to solve a real or imaginary problem (that they actually created). They work their “IT magic” and the problem goes away. Later, they ask you for something you wouldn’t normally do, and you do it because of the “social debt”: they helped you first. For example, a hacker might attack a corporate network, causing it to slow down. Then they call you, pretending to be from your organisation, perhaps as a recent hire not yet on the company’s contact list. They “help” you by turning off the attack, leaving you suitably grateful. Perhaps a week later, they call again and ask for sensitive information, such as the CEO’s password. You know company policy is to not divulge it, but the scammer will ask if you remember them (of course you do) and come up with an excuse for why they really need this password. The balance of the social debt says you will help them. <h2>5. Appealing to authority</h2> By posing as line managers, officials from government agencies, banks, or other authoritative bodies, scammers exploit our natural tendency to obey authority. Such scams operate at varying levels of sophistication. The simple version: your manager messages you with an urgent request to purchase some gift cards and send through their numbers. The complex version: your manager calls and asks to urgently transfer a large sum of money to an account you don’t recognise. You do this because <a href="https://www.wsj.com/articles/fraudsters-use-ai-to-mimic-ceos-voice-in-unusual-cybercrime-case-11567157402">it sounds exactly</a> like your manager on the phone – but the scammer <a href="https://www.forbes.com/sites/thomasbrewster/2021/10/14/huge-bank-fraud-uses-deep-fake-voice-tech-to-steal-millions/?sh=1329b80e7559">is using a voice deepfake</a>. In a recent major case in Hong Kong, such a scam even involved a <a href="https://edition.cnn.com/2024/02/04/asia/deepfake-cfo-scam-hong-kong-intl-hnk/index.html">deepfake video call</a>. This is deeply challenging because artificial intelligence tools, such as Microsoft’s VALL-E, can create <a href="https://arstechnica.com/information-technology/2023/01/microsofts-new-ai-can-simulate-anyones-voice-with-3-seconds-of-audio/">a voice deepfake</a> using just three seconds of sampled audio from a real person. <h2>How can you defend against a scam?</h2> First and foremost, verify identity. Find another way to contact the person to verify who they are. For example, you can call a generic number for the business and ask to be connected. In the face of rampant voice deepfakes, it can be helpful to agree on a “safe word” with your family members. If they call from an unrecognised number and you don’t hear the safe word just hang up. Watch out for pressure tactics. If the conversation is moving too fast, remember that someone else’s problem is not yours to solve. Stop and run the problem past a colleague or family member for a sanity check. A legitimate business will have no problem with you doing this. Lastly, if you are not sure about even the slightest detail, the simplest thing is to hang up or not respond. If you really owe a tax debt, the ATO will write to you.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/223959/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/mike-johnstone-106590">Mike Johnstone</a>, Security Researcher, Associate Professor in Resilient Systems, <a href="https://theconversation.com/institutions/edith-cowan-university-720">Edith Cowan University</a> and <a href="https://theconversation.com/profiles/georgia-psaroulis-1513050">Georgia Psaroulis</a>, Postdoctoral research fellow, <a href="https://theconversation.com/institutions/edith-cowan-university-720">Edith Cowan University</a> Image credits: Shutterstock This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/what-psychological-warfare-tactics-do-scammers-use-and-how-can-you-protect-yourself-223959">original article</a>.

Money & Banking

How to protect yourself from cyber-scammers over the festive period

<a href="https://theconversation.com/profiles/rachael-medhurst-1408437">Rachael Medhurst</a>, <a href="https://theconversation.com/institutions/university-of-south-wales-1586">University of South Wales</a> The festive season is a time for joy, family and festive cheer. However, it’s also a prime target for cybercriminals. As online shopping ramps up, so does the risk of falling prey to cyber-attacks. That’s why it’s crucial to be extra vigilant about your <a href="https://blog.tctg.co.uk/12-cyber-security-tips-of-christmas">cybersecurity</a> during this time. Here are some essential tips to safeguard yourself and your data during the festive period: <h2>Phishing</h2> Phishing is when criminals use scam emails, text messages or phone calls to trick their victims. Their <a href="https://www.ncsc.gov.uk/collection/phishing-scams">goal</a> is often to make you visit a certain website, which may download a virus on to your computer, or steal bank details or other personal data. This type of scam tends to <a href="https://www.egress.com/blog/phishing/holiday-phishing-scam-guide">increase</a> at this time due to the amount of people having bought or received new gadgets and technology. Look out for there being no direct reference to your name in any communications, with wording such as “Dear Sir/Madam” or other terms such as “valued customer” being used instead. Grammar and spelling mistakes are also often present. Be wary of any suspicious links or attachments within emails too, and don’t click them. It’s better to contact the company directly to check if the message is genuine. You can also <a href="https://www.ncsc.gov.uk/collection/phishing-scams">report</a> suspicious messages and phishing scams to the government’s National Cyber Security Centre. <h2>Shopping safely online</h2> The convenience of online shopping is undeniable, especially during the festive season. However, it’s crucial to prioritise your security when buying online. Before entering your personal and financial information on any website, ensure it’s legitimate and secure. Look for the “https” in the address bar and a <a href="https://theconversation.com/the-vast-majority-of-us-have-no-idea-what-the-padlock-icon-on-our-internet-browser-is-and-its-putting-us-at-risk-216581">padlock</a> icon, which indicates a secure and encrypted connection. When creating passwords for online shopping accounts, use strong, unique combinations of letters, numbers and symbols. Avoid using the same password for multiple accounts, as a breach on one site could compromise all your others. As with shopping in the real world, be cautious when encountering offers that are significantly below usual prices or which make extravagant promises. Always conduct thorough research on the seller and product before making a purchase. If a deal seems too good to be true, it probably is. And if you are out shopping in towns or city centres, there will often be a large number of public wifi options available to you. However, criminals can intercept the data that is transferred across such open and unsecured wifi. So, avoid using public wifi where possible, especially when conducting any financial transactions. <h2>Social media</h2> While social media platforms provide people with a means to keep in touch with family and friends over the festive period, they are often a goldmine for <a href="https://www.which.co.uk/consumer-rights/advice/how-to-spot-a-social-media-scam-aMtwF3u1XKGt">scams</a> and malware (software designed to disrupt, damage or gain unauthorised access to a computer). In the spirit of the festive season, people often share an abundance of personal information on social media, often without considering the potential consequences. This trove of data can make people vulnerable to cyber-attacks. Scammers can exploit this information to gain unauthorised access to social media accounts, steal personal information, or even commit identity theft. To protect yourself, be mindful of what you share. Be wary when interacting with posts and direct messages, especially if they contain suspicious links or attachments. Before clicking on anything, hover over the link to verify its destination. If it shows a website you don’t recognise or seems unrelated to the message, do not click on it. If you receive a message from someone you know but the content seems strange or out of character, contact them directly through a trusted channel to verify its authenticity. Likewise, be wary of messages containing urgent requests for money or personal information from businesses. Genuine organisations will never solicit sensitive details through social media. There are many buy and sell platforms available on social media. But while such platforms can be a great place to find a unique gift, it is also important to remember that not all sellers may be legitimate. So, it’s vital that you don’t share your bank details. If the seller sends a link to purchase the item, do not use it. When meeting to collect an item, it’s generally safer to use cash rather than transferring funds electronically. <figure><iframe src="https://www.youtube.com/embed/aO858HyFbKI?wmode=transparent&start=0" width="440" height="260" frameborder="0" allowfullscreen="allowfullscreen"></iframe><figcaption>Advice for staying safe online.</figcaption></figure> <h2>Package delivery scams</h2> As well as being a time for giving and receiving gifts, the festive season is also ripe for cybercriminals to exploit the excitement surrounding <a href="https://www.citizensadvice.org.uk/about-us/about-us1/media/press-releases/scams-linked-to-parcel-deliveries-come-top-in-2023/">package deliveries</a>. Scammers often pose as legitimate delivery companies, sending emails or text messages claiming that a delivery attempt was unsuccessful or requiring additional fees for processing, or even customs clearance. Typically, these messages contain links or phone numbers that, when clicked or called, lead to fake websites or automated phone systems designed to collect personal information or payments. To protect yourself, always verify the legitimacy of any delivery notifications you receive. Check the sender’s email address or phone number against the official contact information for the delivery company. If the information doesn’t match or seems suspicious, don’t click any links or provide personal details. Legitimate delivery companies will never ask for upfront payment or sensitive information through unsolicited messages or calls. Remember, cybercriminals are skilled at manipulating the festive spirit to their advantage. Stay vigilant, exercise caution, and don’t let your excitement for gifts and deliveries compromise your cybersecurity.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/218294/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/rachael-medhurst-1408437">Rachael Medhurst</a>, Course Leader and Senior Lecturer in Cyber Security NCSA, <a href="https://theconversation.com/institutions/university-of-south-wales-1586">University of South Wales</a> Image credits: Getty Images This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/how-to-protect-yourself-from-cyber-scammers-over-the-festive-period-218294">original article</a>.

Money & Banking

1 in 6 older adults fall victim to impersonation scams

More older adults are likely to fall victim to scams than are currently recognised according to new US research. The problems are global. <div class="copy"> A research team from Rush University Medical Center in Chicago, US, says older Americans who aren’t cognitively impeded, are also at risk. In their study <a href="https://10.1001/jamanetworkopen.2023.35319" target="_blank" rel="noreferrer noopener">published</a> today in JAMA Network Open, the group reports on a behavioural experiment where they targeted 644 adults aged 64-104 in Rush’s Memory and Aging Project – a local scheme that draws on participants from metropolitan Chicago to participate in research – with a pitch mimicking a real-world impersonation scam. The study’s fictitious ‘US Retirement Protection Task Force’ pitched itself to participants as a government social security initiative. This USRPTF told participants via either post, email or a telephone call there’d been irregular activity on their Medicare or social security file and the inquiry was a routine account security check. As part of this, the fake agency asked participants to call a telephone hotline or login to a provided website to provide their details. Over two-thirds of the study failed to respond to any attempts to obtain information by the phoney scheme. The remainder were evenly split by either responding to requests for contact, but expressing scepticism at the authenticity of the USRPTF, or by responding and engaging with the request for information. Those who were engaged with the request for information, but expressed doubts, were also those with the highest cognitive performance, and lowest proportion of dementia. They were also the most financially literate participants, while those who provided their details had the lowest literacy. Those who provided details were also found to have the lowest scam awareness of all participants. Among this group, 1 in 10 willingly provided personal information and 1 in 5 provided details of their social security number. “If extrapolated to a population level, these numbers are astounding and suggest that a very large number of older adults are at risk of victimisation,” the authors say. They also note that, given the use of a fictitious US government organisation name, the number of people vulnerable to well-organised scams is likely much higher. Last year, the US National Council on Aging reported 92,371 older Americans were defrauded of a total of US$1.7 billion. Most were victims of government department impersonation, sweepstakes and robocall scams. Often such scams will simply demand payment while ‘spoofing’ the phone number of a government agency to add the veil of legitimacy. It’s a similar story around the world. This year, the Australian Competition and Consumer Commission found Australians lost a record $3.1 billion last year, mostly via phone scams. Australians over 65 years of age accounted for a quarter of losses and reports. The UK’s Action Fraud initiative found Britons lost about ₤2.35 billion in the 2020/21 financial year, with those aged 50-69 most susceptible to falling victim. <div> Image credits: Getty Images <a href="https://cosmosmagazine.com/people/society/1-in-6-older-adults-fall-victim-to-impersonation-scams/">This article</a> was originally published on <a href="https://cosmosmagazine.com">Cosmos Magazine</a> and was written by <a href="null">Cosmos</a>. </div> </div>

Legal

Hilarious reason dad couldn't be fooled by online scam

One savvy dad has outwitted a scammer who posed as his daughter, after the scammer made one hilarious error. Ian Whitworth, a dad from Sydney, took to his LinkedIn page to share the message a scammer texted him in a classic phishing scam that targets parents. He shared the photo of what he thought was the "funniest phishing text any parent has ever received". The text read, "Hey dad, dropped my phone in the sink while doing the dishes. Its unresponsive this is my new number for now just text me here x." Despite the terrible grammar and punctuation that would immediately alert anyone to the possibility of a scam, it was something else that caught the dad's attention. Instead, Whitworth said it was the fact his daughter would never do the chore mentioned by the scammers. Still, he thought it was worth sharing a photo of the text in a bid to warn others, which he uploaded along with the comment, "Cybersecurity update. I just got this." "Perhaps the funniest phishing txt any parent has ever received. 'Doing the dishes', yeah, for sure." In a reply to one of the people who commented on his post, Whitworth joked that his daughter "at age four emerged from my parents' kitchen with a shocked look on her face. 'What's pop doing?'. He was washing up in the sink." Another commenter wrote, "Haha! There is NO WAY this is from my son or daughter, that's for sure." Another commenter said the giveaway that it wasn't from his own child was that they didn't immediately ask for money, to which Whitworth replied, "Ha, yeah, the phishers are like the seven step ladder of confidence before the money issue gets raised. Actual kids: MONEY NOW." According to the federal government's Scamwatch website run by the Australian Competition and Consumer Commission (ACCC), the "Friends/Family Hi Mum" impersonation scam was common. "Scammers send messages pretending to be a family member or a friend desperate for money," it said. "They say they have a new phone and they need you to pay money to help them out of a crisis." Scamwatch warns: "Don't assume a person you are dealing with is who they say they are" and offers the following advice. "If someone you know sends a message to say they have a new phone number, try to call them on the existing number you have for them, or message them on the new number with a question only they would know the answer to," it said. "That way you will know if they are who they say they are." Image credits: Getty Images / LinkedIn

Legal

Facebook Messenger scams are on the rise – here’s how to protect yourself

Facebook Messenger scams prey on our vulnerabilities Scams through Facebook’s Messenger platform are being reported at higher rates than ever before, according to AARP, citing its own data as well as that of the government. Since Facebook’s early days, cybercriminals have been mining Facebook’s direct-messaging capabilities to scam unsuspecting victims out of money. One of the earliest Facebook Messenger scams involved a message, purportedly from a friend, claiming they were stuck in a foreign country and in desperate need of immediate financial assistance to get out. It wasn’t really the friend, however, but rather a scammer who had hacked into the friend’s account. Imposter scams such as “the friend in a foreign country” have evolved and proliferated over the years. The common thread is the scammer either creates an account impersonating an actual Facebook account or hacks into an existing Facebook account. In either case, the scammer then uses the fake/hacked account to send private messages to the account holder’s friends that elicit either money or personal information. The messages vary, but all are designed to prey on our human vulnerabilities, including: <ul> <li>the desire to be a “hero”</li> <li>the desire to appear “generous”</li> <li>the desire to win “free money”</li> <li>the desire to be loved and admired</li> <li>the desire to avoid shame or punishment</li> </ul> If a scammer tries to message you, report them, Facebook advises, but that begs the larger question of how does one recognise a Facebook Messenger scam? Current Messenger Facebook scams According to Facebook and our cybersecurity experts, here are the most common Facebook Messenger scams today: Romance scams. Preying on our desire to be loved and admired, romance scammers appear as attractive strangers with sad stories and a desire to love and be loved. The most effective romance scammers will friend a number of mutual friends before reaching out to any of them, in an attempt to make themselves seem less like strangers and more like people in the same social network. Many use photos they’ve stolen off the Internet and many pose as members of the military or as doctors, in an attempt to inspire trust, admiration, and even authority. What they all have in common is they can’t meet you just yet because they’re somewhere far away, and although it may take a bit of time, even as much as several weeks, they will eventually ask you to send money so that they can come to see you. Lottery scams. Preying on our desire for “free money,” lottery scammers appear as friends or organisations who are thrilled to tell you you’ve won money in some lottery or contest. The common thread? It’s a contest you have no recollection of having entered and to get the prize, you’ll have to either pay a fee or “refundable” advance or provide personal information. Inheritance scams. Also preying on our desire for free money, inheritance scammers claim to be lawyers or others who represent someone who has died and supposedly left you their estate or some portion of it – but first, you’ll have to fork over some money or personal information. Loan scams. Another variation on the “free money” theme is the loan scam, whereby the scammer promises low-interest loans with no money down – except for a “refundable” application fee. Facebook points out that loan scammers may send messages via Messenger and also leave posts and comments on Pages and in Groups to legitimise themselves. However, legitimate lenders wouldn’t offer loans via Facebook Messenger, nor would they ask you for money to proceed with a loan application. Donation scams. Facebook specifically warns users to watch out for “famous people” or people claiming to represent a charity hitting them up for a donation. Donation scams, which are easy money for a scammer because they are a direct request for payment, prey on our desire to be perceived, or to perceive ourselves, as generous. “Hey, is this you?” scams. Consumer Affairs warns of this “phishing scam” that uses the threat of shame to goad you into giving up personal information. The scammer hacks into one of your Facebook friend’s Messenger accounts and sends you a video, asking if it’s really you in the video, and implying there’s something in the video that could embarrass you. If you ever get a message like this, Consumer Affairs urges you to ignore and delete it to avoid giving away personal information or introducing a virus onto your computer. Red flags to watch out for Unfortunately, Facebook Messenger scams evolve rapidly (as soon as we suss them out, there are several more to replace them). So, it’s a good idea to be aware of these warning signs that we culled from our experts: Someone is asking you for money. While Facebook warns specifically against strangers asking for money, Rachel Wilson, investigative coordinator for The Smith Investigation Agency, points out to Reader’s Digest that any time anyone asks you for money over Messenger, it’s immediately suspect. “If friends or family ask you to help them in an emergency, always call to speak with them personally to confirm that the message originated with them.” Someone is getting a little too personal. When someone sends you a message requesting personal information, especially financial information, it should be considered suspicious, advises Sean Messier, credit industry analyst for Credit Card Insider. Messier suggests not revealing any such information until you’re certain the message-sender is who they claim to be, but it’s probably also a good idea to never reveal any such information over Messenger at all. Someone is offering something for free. You know how they say there’s no such thing as a free lunch? Well, there’s no such thing as free money on Facebook, points out Robert Siciliano, security expert. This is true for any kind of “free money” Messenger message, including those involving lotteries, loans, contest winnings, inheritances, lost bank accounts, and reimbursements of money owed. Someone who wants to take the conversation off Facebook (to text or email, etc). Facebook warns against taking conversations off Facebook unless you’re absolutely certain, beyond a shadow of a doubt, the message sender is who they say they are. Messages that seem out of character for the sender. If a message seems “out of the norm” for the sender, trust your instincts and ignore it. This is doubly true if the message includes an attachment. Be very wary of opening attachments in general, and particularly if something seems “off” about the message or the sender. Messages rife with spelling and grammatical errors. Facebook points out that when a message is filled with typos and grammatical errors, you should have your guard up. A single typo is one thing, but things like the misspelling of names and places are a big red flag. Messages from new accounts with few friends. Roger Thompson, CEO of Thompson Cybersecurity Labs, points out that new accounts with few friends should always be considered suspicious until confirmed otherwise. Friend requests from such accounts and from duplicate friend accounts should be considered suspect as well. To avoid getting hacked (and used by a cybercriminal in an imposter scam), Wilson recommends updating your social media passwords regularly and always use two-factor authentication. She also notes that with Facebook use increasing among seniors, it would be a good deed to speak to older family members about Messenger scams and how to avoid them. Image credits: Getty Images This article originally appeared on <a href="https://www.readersdigest.co.nz/true-stories-lifestyle/science-technology/facebook-messenger-scams-are-on-the-rise-heres-how-to-protect-yourself" target="_blank" rel="noopener">Reader's Digest</a>.

Technology

Don't get caught out: 6 holiday scams ripping off travellers

If you’re planning to take a trip across the world soon, then be warned, as there is an influx of new holiday scams affecting tourists as they travel to their dream break. Holiday-makers have money to spend and relaxation on their minds, which is why they are seen as easy targets for con artists. UK-based consumer group <a href="https://www.which.co.uk/" target="_blank" rel="noopener">Which?</a> has listed the six most common frauds travellers need to be aware of, along with tips on how to avoid getting scammed, <a href="https://www.thesun.co.uk/" target="_blank" rel="noopener">The Sun</a> reported. So, if you’re planning a trip abroad, here are the things you need to watch out for: 1. Accommodation booking scams While the introduction of the internet has been a blessing in terms of ease, it’s also made it easier for scammers to lure you into their traps. With the growth of online holiday bookings, fraudsters often need nothing more than a few fake pictures to lure their victims. A common scam is one that includes picturesque photographs of holiday rentals that don’t seem to exist, advertised at affordable price points. The deals were often advertised on mainstream websites but asked those who were interested in booking to contact them via email, rather than use the site’s own booking system. Bookers were then sent a link to a convincing payment page, which suggested the payment hadn’t cleared. They then ask for a bank transfer instead. How to protect yourself: Do your research. Google the property to see if it shows up on other reputable websites to check its authenticity. You could use Google Maps and Street View to see if the accommodation actually exists. Also, never pay by bank transfer. 2. Dodgy flight deals Con artists have created fake airline websites that advertise budget deals on long haul flights that leave their victims high and dry. The UK government’s fraud agency has reported a recent surge of scams targeting those who are travelling to Asia, Africa and the Middle East. In many instances, tickets were purchased with stolen credit cards and then sold to unsuspecting victims, complete with a reference number. But tickets were then cancelled after the credit card was reported as stolen, leaving the victims out of pocket and nothing to show for it. How to protect yourself: Book tickets through trusted agencies. 3. Wi-Fi hacks It’s become human instinct to try and find Wi-Fi wherever you go, and the same applies when travellers land at airports. While it’s important to stay connected in order to get in touch with friends and family, there is a risk involved. Fraudsters have set up their own free networks in airports and use them to gain free information about anyone that logs on. Many passengers have been tricked into entering their credit card details before logging on. How to protect yourself: Ask airport staff about the real Wi-Fi connection to make sure it’s the real deal and be on the lookout for connections that don’t ask for passwords straight away. Also, if you are asked for confidential information then provide fake details where possible. 4. “Free” holidays This decade-long scam has been one that con artists have perfected throughout the years. Back in the day, people would be pressured into buying timeshares after accepting a complimentary break. Now, the con is conducted through scratch cards and other fake competitions. In one example of the scam, around 500 British travellers in Spain’s Costa del Sol have been scammed of around $27.5 million in the last year alone. How to protect yourself: Refuse all offers of free holidays because if it’s too good to be true, then it probably is. Do you know of any other travel scams? Let us know in the comments below. 5. Document fraud Over the years, the internet has seen a growth in websites selling fake travel visas and other important documents needed to visit foreign countries. A few cases were found to not be conducting illegal activity but were responsible for reselling documents at a huge premium compared to official channels. Some common examples included websites selling the European Health Insurance Card and US visa (Electronic System for Travel Authorisation, or ESTA) documents. While the sites looked extremely convincing, they had nothing to do with the governments of the countries they claimed to represent. According to Which?, out of the top 20 search results for “ESTA visa” over half were unofficial. How to protect yourself: Follow links to official government websites through the Department of Foreign Affairs website. 6. Fake tickets It’s no secret that music concerts and major sporting events are on top of the list of potential scams, but travellers are now falling victim to fake packages to international events and are only finding out the true worth of their ticket once they arrive in the country. The FIFA World Cup in Russia was one example where countless websites offered travel packages including tickets when the only tickets that were considered valid and authentic were the ones purchased directly from FIFA themselves. Scammers love to lure desperate fans with fake tickets, as they know the demand is high and it’s easy to trap people who are willing to go the extra mile for a ticket to their chosen event. How to protect yourself: Make sure the tickets you are purchasing are from legitimate websites and web pages that start with “https” and have the padlock symbol in the URL bar. And if you’re on the hunt for second-hand tickets, then do a quick check if whether or not resale is allowed, as some tickets are only valid for the original buyer. “Criminals are finding ever more sophisticated ways to dupe holiday-makers, both in the booking process and when they’re on the holiday itself,” Which? Travel editor Rory Boland said. “If something seems too good to be true, it almost certainly is. Don’t hand your money over until you can be sure it’s the real deal.” Images: Getty

Travel Trouble

Get-rich-quick schemes, pyramids and ponzis: five signs you’re being scammed

<a href="https://theconversation.com/profiles/bomikazi-zeka-680577">Bomikazi Zeka</a>, <a href="https://theconversation.com/institutions/university-of-canberra-865">University of Canberra</a> and <a href="https://theconversation.com/profiles/abdul-latif-alhassan-1390159">Abdul Latif Alhassan</a>, <a href="https://theconversation.com/institutions/university-of-cape-town-691">University of Cape Town</a> Consumers are under a lot of financial strain. The <a href="https://www.weforum.org/agenda/2022/09/cost-of-living-crisis-global-impact/">World Economic Forum</a> reports that the cost-of-living crisis is affecting people across the globe. With food and fuel prices rising, it’s becoming increasingly difficult to keep financially afloat. On top of that, salaries <a href="https://www.wsj.com/articles/workers-pay-globally-hasnt-kept-up-with-inflation-e6df92d">aren’t keeping up with inflation</a>, making it more difficult to save and build wealth. It’s during such times of economic difficulty and uncertainty that fraudsters lure unsuspecting consumers into “<a href="https://www.sabric.co.za/">get-rich-quick</a>” schemes, offering <a href="https://www.sabric.co.za/stay-safe/ponzi-pyramid-schemes/">an avenue to make easy money</a> by investing in a “lucrative” financial opportunity. Nothing beats the prospect of making easy money, and every now and again there seems to be a “get-rich-quick” scheme circulating on WhatsApp or on social media that seems legitimate. But it’s not. Our research interests centre on financial systems in emerging economies, and we advocate for financial inclusion and empowering marginalised communities through financial literacy and financial planning. We use our academic platform to share our expertise on finance, including common financial traps people should steer clear of. “Get-rich-quick” schemes are one such trap. They’re also sometimes called ponzi or pyramid schemes. The schemes are a form of <a href="https://www.lawinsider.com/dictionary/financial-fraud">financial fraud</a>. The people running them take money through deception: the misrepresentation of information and identity. They promise financial benefits that don’t exist. You should avoid them because, more often than not, they are bogus and fraudulent business ventures. There have been some massive fraud schemes over the past 30 years. In the early 1990s, <a href="https://www.independent.co.uk/news/world/africa/mmm-global-russian-ponzi-scheme-from-1990s-reborn-and-now-spreading-like-wildfire-in-africa-a7333366.html">MMM Global</a> - one of the world’s largest and most notorious ponzi schemes - defrauded up to 40 million people, who lost an estimated $10 billion. Ponzi schemes have since resurfaced in different forms in <a href="https://www.iol.co.za/weekend-argus/news/ponzi-scheme-investigated-as-some-victims-lost-as-much-as-r200-000-c3c3633c-2abb-4dd4-b668-a5ea608deb41">South Africa</a>, <a href="https://guardian.ng/business-services/nigerians-lose-over-n911b-to-ponzi-schemes-related-fraud-in-23-years/">Nigeria</a>, <a href="https://www.voazimbabwe.com/a/zimbabwe-money-pyramids-ponzi-schemes/6305100.html">Zimbabwe</a>, <a href="https://allafrica.com/stories/202105170964.html">Kenya</a>, <a href="https://doi.org/10.1108/JFC-09-2020-0177">Ghana</a> and several other African countries. There are five tell-tale signs of a “get-rich-quick” scheme. Watch out for them. <h2>The five tell-tale signs</h2> Firstly, they offer exaggerated and above-market returns within a short period of time, with the promise of little to no risk. There are two golden rules when it comes to investing. The first is that it takes time to make money. Amassing a small fortune within a short space of time should raise questions about the scheme. The second rule is: the higher the risk, the higher the return. In other words, no investment is risk free or can guarantee significant returns. There is always some risk involved. An investment that promises substantial returns tends to be quite risky, which repels most people with a low appetite for risk. Secondly, new members are constantly recruited to join the scheme. Typically, such schemes are sustained by relying on the investments of new members to pay existing members. Once the number of existing members exceeds new members, the scheme goes “belly-up”. At best you lose out on the returns you were promised. At worst you lose all the money you’ve invested. When the scheme collapses, it is almost impossible to recover the money you’ve lost because you’ve technically given it to a stranger (remember, the definition of financial fraud encompasses the misrepresentation of identity). Thirdly, there is urgency to join the scheme and no clarity on how the scheme works. This is a classic characteristic of a “get-rich-quick” scheme. There is usually no clear answer about the nature of the scheme, what it invests in, how it generates its returns or the credentials of the organisation. Legitimate investments are transparent and can provide investors with all the information they need to help them decide whether to invest. Unsurprisingly, a proper check of “get-rich-quick” schemes will unmask their fraudulent nature. This is why there’s always the urgency and coercion to make an immediate financial commitment under the guise of missing a once-in-a-lifetime opportunity to get rich. Fourthly, the scheme is not registered with or regulated by any recognised authority. Regulatory authorities are important because they monitor the conduct of financial service providers and protect consumers by keeping their best interests in mind. The protection provided by financial regulators also instils confidence in financial systems. “Get-rich-quick” schemes are not registered and operate outside the framework of regulatory bodies. This makes investors more vulnerable to loss and makes it more difficult to seek legal recourse when the loss occurs. Legitimate investments in South Africa are offered by authorised financial service providers and regulated by the <a href="https://www.fsca.co.za/Pages/Default.aspx">Financial Sector Conduct Authority</a>. You can search for any authorised financial service provider on the authority’s <a href="https://www.fsca.co.za/Fais/Search_FSP.htm">website</a>. Fifthly, they use the testimonies from existing members who’ve earned big bucks to promote the scheme. At the initial stages, the scheme tends to pay out to those who have invested early, and these members are encouraged to share the news of their wealth (which travels fast and far) to promote the scheme. But this is a tactic used to create the impression that you too can earn returns in the double digits. These schemes are both unsustainable and unethical as one person gets wealthy through someone else being deceived. <h2>Too good to be true</h2> It’s worth repeating that if it sounds too good to be true, then it probably is. Wealth comes from a sound investment strategy and decisions made over time. Any promise to “get rich quick” should be treated with the cynicism it deserves. It will ultimately reveal its fraudulent nature. Recognising the signs of “get-rich-quick” schemes can save you from unnecessary financial distress. It’s always a good idea to do your own investigation before committing your finances into any investment. You can find more information on the various types of scams through the <a href="https://www.sabric.co.za/">South African Banking Risk Information Centre</a>’s website and report them to the <a href="https://www.safps.org.za/Home/Contact">South African Fraud Prevention Service</a>.<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/205798/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <a href="https://theconversation.com/profiles/bomikazi-zeka-680577">Bomikazi Zeka</a>, Assistant Professor in Finance and Financial Planning, <a href="https://theconversation.com/institutions/university-of-canberra-865">University of Canberra</a> and <a href="https://theconversation.com/profiles/abdul-latif-alhassan-1390159">Abdul Latif Alhassan</a>, Associate Professor in Development Finance & Insurance, <a href="https://theconversation.com/institutions/university-of-cape-town-691">University of Cape Town</a> Image credits: Getty Images This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/get-rich-quick-schemes-pyramids-and-ponzis-five-signs-youre-being-scammed-205798">original article</a>.

Money & Banking

Sam Neill's warning to single women

Actor Sam Neill has issued a warning to women everywhere, cautioning them against a devious "online love scam" that is using his name and photo. The 75-year-old shared the warning to his Instagram followers on Thursday, telling people to be wary of scams that use the promise of romance as a means to rob money from victims in search of companionship. The post, written on behalf of Sam by his assistant, Lauren, said that scammers having been posing as Sam and contacting fans over social media. Lauren explained that this was impossible, as the actor does not have a private account and "does not keep secrets" from his social media team. "Sam has asked me to post on here to share with his followers an idea of the number of fake Sam Neill accounts out there on Instagram," it said. "The ONLY real Sam Neill account is this one - with the blue verified tick," the message continued. Included in the post was a screen grab of Sam's Instagram with a red marker circling the star's account and the message, "Warning". <blockquote class="instagram-media" style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" data-instgrm-permalink="https://www.instagram.com/p/CoIsALtyfzw/?utm_source=ig_embed&utm_campaign=loading" data-instgrm-version="14"> <div style="padding: 16px;"> <div style="display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"> </div> </div> </div> <div style="padding: 19% 0;"> </div> <div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"> </div> <div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram</div> </div> <div style="padding: 12.5% 0;"> </div> <div style="display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;"> <div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);"> </div> <div style="background-color: #f4f4f4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;"> </div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);"> </div> </div> <div style="margin-left: 8px;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;"> </div> <div style="width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg);"> </div> </div> <div style="margin-left: auto;"> <div style="width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);"> </div> <div style="background-color: #f4f4f4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);"> </div> <div style="width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);"> </div> </div> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;"> </div> </div> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" href="https://www.instagram.com/p/CoIsALtyfzw/?utm_source=ig_embed&utm_campaign=loading" target="_blank" rel="noopener">A post shared by SamNeillTheProp (@samneilltheprop)</a> </div> </blockquote> "I’m saddened by the stories I hear every day of people who have fallen victim to these disgraceful, despicable scammers. Their sole purpose is exploiting peoples weaknesses and lonely hearts. It’s shameful and disgusting and both Sam and I are committed to bringing this to light," Lauren continued. "Please, please check for the blue tick. If the account doesn’t have it, but has Sam’s name, you know it’s a fake." Lauren explained that the scammers after often pedalling get-rich-quick cryptocurrency schemes, while most of them are offering a romantic relationship. "He definitely isn't having an online romantic relationship with you," Sam's assistant messaged on behalf of the star. "That's the trash bag scammer wasting your time, potentially breaking your heart and disappearing with your money!" Followers were grateful for the warning, with one comment reading, "Please continue to report the fake accounts that contact you. It helps a lot and will continue to make Instagram a safer place for everyone." Others didn't take the warning too seriously, with many of his followers keen to poke fun at the scammers. One person said, "Who the hell have I been sending all those nudes to?" "Wait, you mean the message he sent me asking me to send him bitcoin to be in a Jurassic Park movie wasn't real?" said another, before adding, "Well, this is awkward!" Image credits: Getty Images

Technology

Crypto scams will increase over the holidays – here’s what you need to know to not fall victim

Each year, as the festive season arrives, we must also keep an eye out for potential scammers trying to ruin the fun. This is because scammers become more active <a href="https://www.scamwatch.gov.au/scam-statistics?scamid=all&date=2021" target="_blank" rel="noopener">during the holidays</a>, targeting us while we have our guard down. So far in 2022, Australians have lost around <a href="https://www.scamwatch.gov.au/scam-statistics?scamid=all&date=2022" target="_blank" rel="noopener">half a billion dollars to scams</a>, which is already significantly more than had been lost by this time last year. The majority of these losses – <a href="https://www.scamwatch.gov.au/scam-statistics?scamid=26&date=2022" target="_blank" rel="noopener">around $300 million</a> – have involved investment or cryptocurrency scams. <figure class="align-center zoomable"><a href="https://images.theconversation.com/files/494108/original/file-20221108-14-vbvqlj.png?ixlib=rb-1.1.0&q=45&auto=format&w=1000&fit=clip"><img src="https://images.theconversation.com/files/494108/original/file-20221108-14-vbvqlj.png?ixlib=rb-1.1.0&q=45&auto=format&w=754&fit=clip" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" srcset="https://images.theconversation.com/files/494108/original/file-20221108-14-vbvqlj.png?ixlib=rb-1.1.0&q=45&auto=format&w=600&h=370&fit=crop&dpr=1 600w, https://images.theconversation.com/files/494108/original/file-20221108-14-vbvqlj.png?ixlib=rb-1.1.0&q=30&auto=format&w=600&h=370&fit=crop&dpr=2 1200w, https://images.theconversation.com/files/494108/original/file-20221108-14-vbvqlj.png?ixlib=rb-1.1.0&q=15&auto=format&w=600&h=370&fit=crop&dpr=3 1800w, https://images.theconversation.com/files/494108/original/file-20221108-14-vbvqlj.png?ixlib=rb-1.1.0&q=45&auto=format&w=754&h=465&fit=crop&dpr=1 754w, https://images.theconversation.com/files/494108/original/file-20221108-14-vbvqlj.png?ixlib=rb-1.1.0&q=30&auto=format&w=754&h=465&fit=crop&dpr=2 1508w, https://images.theconversation.com/files/494108/original/file-20221108-14-vbvqlj.png?ixlib=rb-1.1.0&q=15&auto=format&w=754&h=465&fit=crop&dpr=3 2262w" alt="A chart showing a steady rise of crypto scams, with a spike in April 2022" /></a><figcaption>Investment scams 2019-2022. scamwatch.gov.au</figcaption></figure> Researchers from <a href="https://cybercentre.org.au/" target="_blank" rel="noopener">Deakin University’s Centre for Cyber Security Research and Innovation</a> had a opportunity to interview recent victims of these scams. Here is what we found. Anyone can fall for a scam <blockquote> I was shocked and could not accept that this happened to me although I was very careful […] I was numb for a couple of minutes as it was a large amount of money. – (26-year-old female office manager from South Australia) </blockquote> These scams have become highly sophisticated and criminals have become less discriminating about whom they target. This is reflected in recent victim demographics, showing a wide variety of backgrounds, a more even distribution across several age groups, and an almost even split on gender. <figure class="align-center zoomable"><a href="https://images.theconversation.com/files/494408/original/file-20221109-21-4mauh4.png?ixlib=rb-1.1.0&q=45&auto=format&w=1000&fit=clip"><img src="https://images.theconversation.com/files/494408/original/file-20221109-21-4mauh4.png?ixlib=rb-1.1.0&q=45&auto=format&w=754&fit=clip" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" srcset="https://images.theconversation.com/files/494408/original/file-20221109-21-4mauh4.png?ixlib=rb-1.1.0&q=45&auto=format&w=600&h=343&fit=crop&dpr=1 600w, https://images.theconversation.com/files/494408/original/file-20221109-21-4mauh4.png?ixlib=rb-1.1.0&q=30&auto=format&w=600&h=343&fit=crop&dpr=2 1200w, https://images.theconversation.com/files/494408/original/file-20221109-21-4mauh4.png?ixlib=rb-1.1.0&q=15&auto=format&w=600&h=343&fit=crop&dpr=3 1800w, https://images.theconversation.com/files/494408/original/file-20221109-21-4mauh4.png?ixlib=rb-1.1.0&q=45&auto=format&w=754&h=431&fit=crop&dpr=1 754w, https://images.theconversation.com/files/494408/original/file-20221109-21-4mauh4.png?ixlib=rb-1.1.0&q=30&auto=format&w=754&h=431&fit=crop&dpr=2 1508w, https://images.theconversation.com/files/494408/original/file-20221109-21-4mauh4.png?ixlib=rb-1.1.0&q=15&auto=format&w=754&h=431&fit=crop&dpr=3 2262w" alt="A bar chart showing most age groups are almost equally targeted" /></a><figcaption>Age groups of scam victims. scamwatch.gov.au</figcaption></figure> <figure class="align-center "><img src="https://images.theconversation.com/files/494409/original/file-20221109-24-24ku3v.png?ixlib=rb-1.1.0&q=45&auto=format&w=754&fit=clip" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" srcset="https://images.theconversation.com/files/494409/original/file-20221109-24-24ku3v.png?ixlib=rb-1.1.0&q=45&auto=format&w=600&h=367&fit=crop&dpr=1 600w, https://images.theconversation.com/files/494409/original/file-20221109-24-24ku3v.png?ixlib=rb-1.1.0&q=30&auto=format&w=600&h=367&fit=crop&dpr=2 1200w, https://images.theconversation.com/files/494409/original/file-20221109-24-24ku3v.png?ixlib=rb-1.1.0&q=15&auto=format&w=600&h=367&fit=crop&dpr=3 1800w, https://images.theconversation.com/files/494409/original/file-20221109-24-24ku3v.png?ixlib=rb-1.1.0&q=45&auto=format&w=754&h=461&fit=crop&dpr=1 754w, https://images.theconversation.com/files/494409/original/file-20221109-24-24ku3v.png?ixlib=rb-1.1.0&q=30&auto=format&w=754&h=461&fit=crop&dpr=2 1508w, https://images.theconversation.com/files/494409/original/file-20221109-24-24ku3v.png?ixlib=rb-1.1.0&q=15&auto=format&w=754&h=461&fit=crop&dpr=3 2262w" alt="A radial chart showing female scam victims comprise 49%, male 48% and gender X the rest" /><figcaption>Gender distribution for reported scams. scamwatch.gov.au</figcaption></figure> So, how can you spot these scams and where can you get help if you have fallen victim? If it sounds too good to be true, it might just be a scam <blockquote> I was dumbfounded, to say that ground shattered under my feet would be an understatement, it will take me a very long time to recover from it, financially and mentally. – (36-year-old female, legal practitioner from Victoria) </blockquote> Most crypto scams involve getting the victim to buy and send cryptocurrency to the perpetrator’s account for what appears to be a legitimate investment opportunity. Cryptocurrency is the currency of choice for this type of crime, because it’s unregulated, untraceable and transactions cannot be reversed. Victims of such scams are targeted using a number of different methods, which include: Investment scams: scammers pretend to be investment managers claiming high returns on crypto investments. They get the victim to transfer over funds and escape with them. “Pump and dump”: scammers usually hype up a new cryptocurrency or an <a href="https://www.kaspersky.com/resource-center/preemptive-safety/how-to-avoid-nft-scams" target="_blank" rel="noopener">NFT project</a> and artificially increase its value. Once enough victims invest, the scammers sell their stake, leaving the victims with worthless cryptocurrency or NFT. Romance scams: involves scammers using dating platforms, social media or direct messaging to engage with you, gain your trust and pitch an amazing investment opportunity promising high returns, or ask for cryptocurrency to cover medical or travel expenses. Phishing scams: an old but still effective scam involving malicious emails or messages with links to fake websites promising huge returns on investment or just outright stealing credentials to access users’ digital currency wallets. Ponzi schemes: a type of investment scam where the scammers use cryptocurrency gathered from multiple victims to repay high interest to some of them; when victims invest more funds, the scammers escape with all the investments. Mining scams: scammers try and convince victims to buy cryptocurrency to use in mining more of it, while in reality there is no mining happening – the scammers just make transfers that look like returns on the investment. Over time, the victim invests more, and the scammers keep taking it all. Although methods evolve and change, the telltale signs of a potential scam remain relatively similar: <ul> <li>very high returns with promises of little or no risk</li> <li>proprietary or secretive strategies to gain an advantage</li> <li>lack of liquidity, requiring a minimum accumulation amount before funds are released.</li> </ul> Where to seek help if you’ve been scammed <blockquote> I felt helpless, I didn’t know what to do, who to reach out to, I was too embarrassed and just kept blaming myself. – (72-year-old male, accountant from Victoria) </blockquote> If you think you have fallen victim to one of these scams, here is what you need to do next: <ul> <li> inform the Australian Competition and Consumer Commission (ACCC) <a href="https://www.scamwatch.gov.au/report-a-scam" target="_blank" rel="noopener">here</a> or reach out to relevant authorities <a href="https://www.scamwatch.gov.au/get-help/where-to-get-help" target="_blank" rel="noopener">as per advice on the ScamWatch website</a> </li> <li> reach out to your friends and family members and inform them of the scam; they can also be a source of help and support during such times </li> <li> as these events can have a psychological impact, it’s recommended you talk to your GP, a health professional, or someone you trust </li> <li> you can also reach out to counselling services such as <a href="http://www.lifeline.org.au/" target="_blank" rel="noopener">LifeLine</a>, <a href="https://www.beyondblue.org.au/" target="_blank" rel="noopener">beyond blue</a>, <a href="http://www.suicidecallbackservice.org.au/" target="_blank" rel="noopener">Sucide Call Back Service</a>, <a href="http://www.mensline.org.au/" target="_blank" rel="noopener">Mens Line</a>, and <a href="https://www.scamwatch.gov.au/get-help/where-to-get-help" target="_blank" rel="noopener">more</a> for help and support. </li> </ul> If you ever find yourself in a difficult situation, please remember help and support is available. Finally, to prevent yourself becoming the next statistic over the holiday period, keep in mind the following advice:<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/194064/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /> <ul> <li>don’t share your personal details with people online or over a call</li> <li>don’t invest in something you don’t understand</li> <li>if in doubt, talk to an expert or search online for resources yourself (don’t believe any links the scammers send you).</li> </ul> Writen by Ashish Nanda, Jeb Webb, Jongkil Jay Jeong, Mohammed Reza Nosouhi, and Syed Wajid Ali Shah. Republished with permission from <a href="https://theconversation.com/crypto-scams-will-increase-over-the-holidays-heres-what-you-need-to-know-to-not-fall-victim-194064" target="_blank" rel="noopener">The Conversation</a>. <p style="font-size: 16px; box-sizing: border-box; margin-top: 0px; margin-bottom: 0px; color: #212529; font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, 'Helvetica Neue', Arial, sans-serif, 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol', 'Noto Color Emoji'; background-color: #ffffff;">Image: Getty Images

Money & Banking

Right royal nonsense: online scam roasted for being most pathetic ever

It hasn’t taken long for scammers to swoop in and take advantage of the Queen’s death, only two short weeks after her funeral was watched by literally billions of people. Pretty audacious then for this particular scammer to think that pretending the Queen is actually still alive would fool anyone for even a moment. Twitter account UberFacts shared a screenshot of just such an attempt that has been circulating on Instagram. An account pretending to be the Queen herself is behind these ludicrous messages, with the handle @queenelizabet._3 ... and the messages claim the Queen isn't dead, that she's simply been shipped off to a desert island by King Charles so that he could ascend to the throne. <blockquote class="twitter-tweet"> I have some news <a href="https://t.co/f1QbInTJNl">pic.twitter.com/f1QbInTJNl</a> — UberFacts (@UberFacts) <a href="https://twitter.com/UberFacts/status/1572279949201117186?ref_src=twsrc%5Etfw">September 20, 2022</a></blockquote> According to the message, "the Queen" "can't get hold of her royal money" - and needs people to send her some cash so she can return to the UK. The absurd message concludes with "Tea and biscuits" and a Union Jack flag emoji. As expected, the scam was thoroughly mocked online for its outrageous attempt at conning people out of money. Scammers come up with new ways to target social media users every day, but there are a few ways to help protect yourself and your information including: treating contact from unfamiliar accounts with caution - particularly if it claims to be an official account. Even if it is familiar, legitimate users often get hacked, so it still pays to watch out. Don't click on suspicious links or attachments - these are often the most dangerous parts of a scam message. As always, if you're unsure, better to be safe than sorry and avoid the links and messages altogether. Image: Twitter

Money & Banking

"They weren't real tears": Damning testimony at Melissa Caddick inquest

One of the first police officers to interview Melissa Caddick’s husband has said he was acting extremely strangely and, when seen crying, wasn’t shedding “real tears”. Sergeant Trent Riley told the inquest into Caddick’s death of Anthony Koletti’s behaviour after he reported her missing 28 hours after he says she left their <a href="https://www.oversixty.co.nz/property/real-estate/melissa-caddick-s-husband-ordered-to-vacate-15-million-mansion" target="_blank" rel="noopener">Dover Heights home</a>. Louise Coleman, the junior counsel assisting, asked whether Sergeant Riley believed Koletti’s behaviour “was extremely strange and unusual”, to which he said, “Yes”. “I thought it was strange a husband would ring the police station, report his wife missing two days later and wasn't prepared to come to the police station,” Sergeant Riley said. “Or didn't really want police to go around and see him (because) he had too much work on that day.” Since the inquest began on Monday, it has been heard that Koletti impersonated Caddick the day after she went missing and falsely told friends he was with her at home. Koletti cancelled an appointment with their cleaner via text using his wife’s phone and lied to Caddick’s brother Adam Grimley and friend Scott Little in text messages, telling them he was home with her when he hadn’t actually seen her that day. Coleman asked Sergeant Riley about the text message sent to the cleaner, which he described as strange. “I did think it was strange,” he said. “(He) contacted her closest friends but hadn’t let them know she was missing?” Coleman asked. “He did. Very strange,” Sergeant Riley said. The part-time hairdresser and DJ reported that his wife was missing on November 30, just over a day after he said she left the house to go for a walk or a run. The inquest heard on Wednesday that Sergeant Riley’s suspicions prompted him to visit Koletti at the couple’s home in the eastern suburbs, with his body-cam footage played before the court. “You can’t be too careful these days,” Koletti can be heard saying while unlocking one of the doors. In the cellar, Koletti points out that Caddick “hasn’t even taken any grog”. On the upstairs deck, where the Harbour Bridge could be seen in the background, Sergeant Riley mentioned that it was a good spot for New Year’s Eve. “I was looking forward to New Year's Eve, but I don't know now. It doesn't mean anything when you don't have the love of your life,” Koletti responds. “Did you go anywhere last night?” Sergeant Riley asks again. “Not that I know of,” Mr Koletti says. Sergeant Riley repeatedly says he doesn’t believe Koletti is telling him the complete truth. “Like I said before I think there's something you're not telling me,” Sergeant Riley says. “I told you if something comes up I will tell you ... I've been on this for a long time now,” Koletti responds. Solicitor Judy Swan, who is representing Koletti, pointed out to the sergeant that her client began to cry at the end of the search and interview. “They weren't real tears in my opinion ... I'm very confident they weren't real tears,” Sergeant Riley said. He noted that Koletti gave him two different versions of the last time he saw Caddick, first telling police that he wasn’t worried about his wife and hadn’t left home at all and later saying he had spent the day searching above the ocean near The Gap. “(He says) he didn't think she was missing but he was checking the cliffs around Rodney Reserve all day,” Coleman said. “Extremely strange,” Sergeant Riley responded. The officer, who was unaware that the couple’s home had been raided by the Australian Federal Police and Australian Securities and Investments Commission on November 11, added that he was bewildered by Koletti’s ability to describe the clothes his wife was wearing when she left the house, despite not seeing her leave. The inquest before Deputy State Coroner Elizabeth Ryan continues. Image: Getty Images

Legal

Dream home turns into nightmare for scam victims

A Queensland couple who thought they had snapped up the home of their dreams have been left devastated after they lost almost $40,000 to a “cunning” email scammer instead. When Mitch Wilson and Penny Davies received an email from what appeared to be their real estate agent’s email address, they believed they were following their agent’s advice to then transfer the deposit for their house into a bank account. “It plays over and over in my head all of the time,” Ms Davies said. “We got an email from the real estate agent we had been dealing with, from their email account, saying in light of the contract please pay money to this account,” Mr Wilson told 9News. <img src="https://oversixtydev.blob.core.windows.net/media/2022/08/receipts.jpg" alt="" width="1280" height="720" /> The couple lost nearly $40,000 after receiving the fraudulent email (left), realising their costly mistake while messaging the actual real estate agent (right). Images: 9News After transferring the $39,000 sum, they thought nothing of it until the agent contacted them several days later asking where the funds were. “We went back and forth, we exchanged screenshots and emails from their side and ours, and what was obvious is the money didn’t go where it was supposed to go which was their account,” Mr Wilson said. “(It) ended up in some fraudster‘s account and then offshore to a crypto account.” But, the couple aren’t the only victims of this kind of scam, which police refer to as an email compromise scam. The scammers infiltrate an email account and use it to send emails to victims - making it difficult to identify that they are being scammed. Constance Hall, a mummy blogger, told news.com.au she felt “stupid” after losing thousands of dollars to the scam after she transferred money via a link sent from the real estate agency that managed the rental property she believed she was paying a deposit for. When she contacted the bank, she was told that the chance of recovering the funds was minimal as she had authorised the transaction, and that she should report it to the police. In the end, only $7.57 was recovered. “To have it all stolen in an instant … felt unbelievably unfair,” she said. Ian Wells, of Queensland Police’s Cyber Crime Group, told 9News: “These people with these skills, they‘re very cunning, they’re very calculated.” Police are advising home buyers to contact the business before paying invoices online to confirm bank account numbers, as the hackers change the bank accounts in invoices sent by business owners before forwarding the altered invoices to unsuspecting customers. Victims are also urged to contact their bank as soon as possible to report the fraudulent transaction. As for businesses impacted by the scams, the Australian Cyber Security Centre advises that they report the incident at <a href="https://www.cyber.gov.au/acsc/report" target="_blank" rel="noopener">https://www.cyber.gov.au/acsc/report</a>, alert other employees and clients, and report the breach to their email service provider. Image: 9News

Real Estate

Top tips for avoiding scams

Falling victim to a clever scam artist is something we all fear! With these top tips we show you how to avoid getting ripped off. Statistics show that unfortunately older Australians are often the target of scam artists looking to make a quick buck off someone else’s hard-earned cash. They’ve had help. With technology evolving and more people going online to pay bills, communicate with friends and family, and to find love, there have been a number of reported cases of people sending money overseas or elsewhere never to see it again. However, there are ways to outsmart those who would try to trick you out of your retirement savings. What to look out for Financial fraud can come in any form. It can be an email from a stranger asking for a donation to a charitable cause or a phone call promising a once-in-a-lifetime investment opportunity. However, as the saying goes, if it sounds too good to be true, it’s because it probably is. According to the Australian Competition and Consumer Commission’s (ACCC) SCAMwatch site, a one-stop information shop on how to recognise, avoid and report scams, almost everyone will be approached by a scammer at some stage in their life. That’s a scary pronouncement, but one that’s very much evident in the growing number of stories of people who have fallen victim to a scam. While some scams are easy to spot, others appear to be genuine offers or bargains. There’s a number of different types of scams too, from investment and superannuation scams to ones involving your bank or credit card. It can even look as innocent as a supermarket customer satisfaction survey. At the end of last year, the ACCC spread the news of a fake Woolworths’ customer satisfaction survey, which asked shoppers for their bank account details in exchange for a $150 gift voucher. Scammers sent the survey out mostly via social media or email, and asked people to complete all of the questions before saying they could claim their voucher. However, when people did try and claim the voucher, they found it was fake. “Scammers impersonate well-known businesses to get their hands on your personal details,” ACCC deputy chair Delia Rickard said at the time. “Once you have unknowingly sent your details to a scammer, they can steal your money – and possibly even your identity.” Warning signs Scams can target people of all backgrounds, ages and income levels. The reason many people fall victim to a scam is because they look like the real thing. They could look like a legitimate business email or letter, with logos, contact details and genuine information that could be targeting a specific need or desire. It’s not until you dig a little deeper that you find something is not right. Scammers can also manipulate you by “pushing your buttons”, according to the ACCC, to get an automatic response. This is not based on you personally but on how society works as a whole. It’s not until after you have acted in the way they want that you find something is wrong. The best way to spot a scam is to be vigilant and cautious, especially when it comes to giving out personal details over the internet or the phone. Most scams will need you to do something before they can work. It may ask for your bank or credit card details, or for you to send money based on a promise of significant financial reward that turns out to be false. Some scams also rely on you to agree to deals without getting advice first or to buy a product without properly looking into it. Don’t be a victim The first step in protecting yourself against scams and other forms of financial fraud is to be aware that it can happen. Some people hold certain perceptions that make them more susceptible to being scammed, such as the belief that all companies or organisations are legitimate or that all internet sites are legitimate. Both are myths. Consumer protection agencies try to weed out dodgy operators before they have an impact, but sometimes one can slip through the net. Most of these fake sites will be taken down after a few days, but that is still long enough for someone to have bought into a dodgy deal or to have provided their bank details to a scammer. The second step is to be cautious and protective of your personal details. This includes your contact details and bank or credit card details. Always seek independent advice before agreeing to any sort of money commitment and remember there are no get-rich-quick schemes. Check your bank statements regularly and if you see a transaction that you’re not sure about or cannot explain, contact your bank or credit union. Also, keep your bank cards and personal identity number safe and secure. Be cautious and question everything. It’s the best approach to make sure you don’t become a scam victim. Image: Getty Images

Money & Banking

How to avoid being scammed for your next holiday

It’s almost time to book your next overseas holiday but before you do, you need to be wary of some sneaky scams out there. From fake hotel bookings to literally unbelievable deals, these tricks are sure to keep holiday seekers thousands of dollars out of pocket. And scammers know when to strike, particularly when almost everyone has barely had a holiday in two years due to the pandemic. "The scammers know that the tsunami of bookings is coming. So they're really trying to make sure they can capitalise on this pent-up demand as well," Australian Traveller's Quentin Long told Today. He explained that one of the best scams out there is when someone books a stunning Airbnb but when the client arrives, the place simply doesn't exist. "You turn up to the address and there's no property there. They have done a lot to clean that up, but it still happens," Mr Long said. He recommends doing a thorough search of the property and to also read Google reviews to see what others have experienced or not. Another red flag to keep an eye out for are places that only have a PO Box as their address or simple spelling errors. "Then there's the more sophisticated ones where you will see a deal on a website. It looks legitimate and they actually do the transaction," Mr Long continued. "They send you a booking confirmation and it has your name on it. It looks absolutely normal, legitimate and trustworthy. The problem is they have used a stolen credit card to book that travel on your behalf." Mr Long suggests booking with a New Zealand company to avoid being scammed and to have travel insurance as well. Image: Shutterstock

Travel Trouble

Woman scammed out of $730,000

A woman has lost an eye-watering $730,000 after opening an email from who she thought was her settlement agent. The victim was in the process of purchasing a property in Western Australia and had clicked on the email which asked for money to be deposited into an account they were in control of. After filling out the “authentic-looking documents”, the scammers were able to take control of $730,000. Consumer Protection WA confirmed that the settlement agent’s email was hacked by the scammers in what is described as payment redirection scams. Payment redirection scams are almost impossible to tell the difference between the real and the fake thing. In this instance, the woman did not think twice that the email would have been a scam after the agent reminded her of the payment. Consumer Protection executive director Trish Blake said the hack is sophisticated and can make it difficult to know when the hacking took place. “These scams usually involve the hacking into someone’s email account or computer system but it can be difficult to determine exactly where the hack has occurred,” she told <a href="https://www.news.com.au/technology/online/hacking/woman-loses-730000-after-one-scam-email-while-buying-property/news-story/0eabd0fcc189dc3a0bd7c472f0034150" target="_blank" rel="noopener">news.com.au</a>. “The hackers may have successfully guessed the password or installed spyware or malware on computers or laptops after recipients open attachments or click on links in scam emails. “The losses from these scams can be extremely devastating to the victims who may have lost their home deposit that they have been saving for many years and may not be able to buy the home of their dreams. Or it may be a business doing it tough that can least afford to lose such a large amount of money.” Image: Shutterstock

Money & Banking

How to stop getting hacked on Facebook

A new scam involving Facebook users is currently surging worldwide. It involves enticing messages, supposedly from a friend reading: “look what I found”. The phishing scam targets people via Facebook Messenger, as scammers are able to send these fake messages to the contacts of people whose Facebook accounts had previously been compromised. Along with the “look what I found” message, which is often followed by one or multiple emojis, comes a link. Once you click on it, you’re taken to a malicious webpage that asks for your Facebook log-in. This is where they will obtain sensitive information and even attempt to install malware onto the device. The scam has been known about for several years but recently appears to be surging out of control. It’s one of a number of scams targeting people via Messenger. Another example is one where people receive a message from a friend saying, “is this you in this video?”, or similar. “Messages seemingly coming from a Facebook friend much more likely result in clicks than messages sent by strangers, because people might only or primarily focus on the sender’s name at first rather than the message content, regardless whether that has red flags,” Leslie Sikos, a cyber security expert from Edith Cowan University says. “There are many scams of this sort, meaning that there is no single appearance or behaviour users could learn to avoid. “Note that if someone is tricked by a message and they click a scam’s link, they still might not be victims in the end if they can realise it’s a scam by keeping an eye on the website loading process, which would reveal the redirection to a malicious website.” Here's what to look out for Dr Sikos says while the scam can be difficult to detect, there could be a number of seemingly obvious clues that give away a phishing message. “(For example) there is no proper greeting and/or signature that would match the style of the sender,” he said. “Scams often have bad grammar or typos that can also indicate their true nature. For example, ‘look what i found’ instead of ‘Look what I’ve found’.” He's also flagged to look out for a “gibberish, obviously machine-generated and fake domain name that, when clicked, would actually redirect you to another domain”. Other clues to indicate a phishing message include: the message came from a Facebook friend who you wouldn’t normally chat with, or the message was sent at a strange hour of the day or night. Image: Getty

Technology

Scammers target flood victims in new low

In the aftermath of the floods that have devastated much of northern NSW and Queensland, those affected have something else to worry about - scammers. As Aussies begin to rebuild their homes and businesses, many are filing insurance claims. But, reports have begun to emerge of scammers trying to take advantage of flood victims by posing as insurance providers. <blockquote class="instagram-media" style="background: #FFF; border: 0; border-radius: 3px; box-shadow: 0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width: 540px; min-width: 326px; padding: 0; width: calc(100% - 2px);" data-instgrm-captioned="" data-instgrm-permalink="https://www.instagram.com/p/CavpKLzhHqI/?utm_source=ig_embed&utm_campaign=loading" data-instgrm-version="14"> <div style="padding: 16px;"> <div style="display: flex; flex-direction: row; align-items: center;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;"> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;"> </div> </div> </div> <div style="padding: 19% 0;"> </div> <div style="display: block; height: 50px; margin: 0 auto 12px; width: 50px;"> </div> <div style="padding-top: 8px;"> <div style="color: #3897f0; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: 550; line-height: 18px;">View this post on Instagram</div> </div> <div style="padding: 12.5% 0;"> </div> <div style="display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;"> <div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);"> </div> <div style="background-color: #f4f4f4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;"> </div> <div style="background-color: #f4f4f4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);"> </div> </div> <div style="margin-left: 8px;"> <div style="background-color: #f4f4f4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;"> </div> <div style="width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg);"> </div> </div> <div style="margin-left: auto;"> <div style="width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);"> </div> <div style="background-color: #f4f4f4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);"> </div> <div style="width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);"> </div> </div> </div> <div style="display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;"> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;"> </div> <div style="background-color: #f4f4f4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;"> </div> </div> <p style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; line-height: 17px; margin-bottom: 0; margin-top: 8px; overflow: hidden; padding: 8px 0 7px; text-align: center; text-overflow: ellipsis; white-space: nowrap;"><a style="color: #c9c8cd; font-family: Arial,sans-serif; font-size: 14px; font-style: normal; font-weight: normal; line-height: 17px; text-decoration: none;" href="https://www.instagram.com/p/CavpKLzhHqI/?utm_source=ig_embed&utm_campaign=loading" target="_blank" rel="noopener">A post shared by Ali King MP (@aliforpumicestone)</a> </div> </blockquote> Ali King, the MP of Pumicestone in Queensland, said she received a text from an alleged scammer who claimed they would help with her insurance claim after the floods. The only problem was that she didn’t make a claim. “I got a text today from someone assigned to help me with my insurance claim. I don’t have an insurance claim,” she said on Instagram. Stephen Jones, the MP for Whitlam, also took to social media, using King’s tweet to warn those who may become victims of scammers on top of the floods. “We’ve seen the best of Australia in the huge outpouring of support for those affected by these devastating floods,” he wrote. <blockquote class="twitter-tweet"> Thanks <a href="https://twitter.com/StephenJonesMP?ref_src=twsrc%5Etfw">@StephenJonesMP</a> - we need better laws to deal with these grubs. <a href="https://twitter.com/hashtag/auspol?src=hash&ref_src=twsrc%5Etfw">#auspol</a> <a href="https://twitter.com/hashtag/QLDFloods2022?src=hash&ref_src=twsrc%5Etfw">#QLDFloods2022</a> <a href="https://t.co/FD2vjI9pxg">https://t.co/FD2vjI9pxg</a> — Ali King MP (@AliKingLabor) <a href="https://twitter.com/AliKingLabor/status/1501017186537975813?ref_src=twsrc%5Etfw">March 8, 2022</a></blockquote> “But scammers posing as insurance agents are looking to exploit people trying to pick up the pieces of their lives. “Look out for suspicious messages and phone calls. Share information with your communities so they know what to watch out for. “Working together we can stop these scammers from taking advantage of yet another tragedy.” A spokesperson for the ACC told <a href="https://7news.com.au/technology/scammers-posing-as-insurance-providers-target-flood-victims--c-5961535" target="_blank" rel="noopener">7News</a> that they were yet to see reports of the scams, but still urged Aussies to remain cautious. According to the ACCC, here are several things people can do to protect themselves from scams: <ul> <li dir="ltr" aria-level="1"> Don’t click on hyperlinks in texts, social media messages or emails, even if it appears to come from a trusted source </li> <li dir="ltr" aria-level="1"> Never reply to unsolicited messages asking for personal or financial details </li> <li dir="ltr" aria-level="1"> To determine if a contact is legitimate, look them up through an independent source such as a phone book or online search </li> <li dir="ltr" aria-level="1"> Never send money or personal information, such as credit card details, to anyone you don’t know or trust </li> </ul> If you believe you have fallen victim to a scam, contact your bank and consider lodging a complaint with the <a href="https://aus01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.afca.org.au%2F&data=04%7C01%7CSuWoolley%40seven.com.au%7Cc6008f2b54f04dd1bfb008d9df928a4c%7Cb359291241554399b790752c894d2935%7C0%7C0%7C637786642752505908%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0&sdata=34rdRdW3WEJ0j6pj0PBqVm4Ixxy91pCjrwwk7LQSoME%3D&reserved=0" target="_blank" rel="noopener">Australian Financial Complaints Authority</a> if you’re not satisfied with the bank’s response. Image: Getty Images

Technology

Andrew “Twiggy” Forrest launches criminal case against Facebook

Billionaire mining magnate Andrew “Twiggy” Forrest has <a href="https://www.bbc.com/news/world-australia-60238985" target="_blank" rel="noopener">launched</a> a criminal case against Facebook over allegations the company failed to prevent scams from using his image, in what he says will be the first criminal case the social media site has faced globally.He claims that Facebook breached Australian anti-money laundering laws in relation to the spread of cryptocurrency scams.Meta, the company that owns Facebook, has not commented on Dr Forrest’s case but said it was “committed to keeping those people [scammers] off our platform”.The scams that use Dr Forrest’s image - and those of other celebrities - promote bogus investments that promise rich returns.<img src="https://oversixtydev.blob.core.windows.net/media/2022/02/d334da2d4f26441a3bb885ecbd284461-e1643840552644.jpeg" alt="" width="468" height="624" />An example of the scams circulating on Facebook using Andrew Forrest's image. Image: <a href="https://www.crikey.com.au/2022/02/03/andrew-forrest-sues-facebook-over-scam-ads-in-world-first-action/" target="_blank" rel="noopener">Crikey</a>Although the platform bans these kinds of ads, many still appear.Dr Forrest, the former CEO of Fortescue Metals who has a PhD in Marine Science, has alleged that Facebook had been “criminally reckless” in not doing more to stop the ads which first began appearing in early 2019.He said he had also written an open letter in November 2019 addressed to Facebook CEO Mark Zuckerberg, urging him to take action.“I’m concerned about innocent Australians being scammed through clickbait advertising on social media,” Forrest said in a statement on Thursday.“I’m acting here for Australians, but this is happening all over the world.”Under Australian law, the consent of the attorney-general is needed in order to privately prosecute foreign corporations for alleged offences under the Commonwealth Criminal Code.“The Attorney-General has given her consent to the private prosecution against Facebook in relation to alleged offences under subsection 400.7(2) of the Criminal Code,” Stephen Lewis, the principal of Mark O’Brien Legal which will be representing Mr Forrest, told <a href="https://www.afr.com/technology/andrew-forrest-sues-facebook-over-scam-ads-20220203-p59tlw" target="_blank" rel="noopener">AFR</a>.Dr Forrest has also filed a civil lawsuit in California, where Facebook’s headquarters are located.According to <a href="https://www.theaustralian.com.au/business/andrew-twiggy-forrest-takes-on-facebook-in-court-lobbing-worldfirst-criminal-charges-at-the-tech-giant/news-story/bf74fe229f470253ffa8d94abbbb5688" target="_blank" rel="noopener">The Australian</a>, he is alleging in that suit that Facebook “knowingly profits from this cycle of illegal ads.Citing court documents, the newspaper reported that one victim had lost $940,000 ($1 million NZD) because of a fake endorsement featuring Dr Forrest.In a statement to media, the social media company said scam ads violated its policies and that it takes a “multifaceted approach” to stopping them.“We work not just to detect and reject the ads themselves but also block advertisers from our services and, in some cases, take court action to enforce our policies,” a Meta representative said.Dr Forrest’s case in Australia will be heard in the Magistrates Court of Western Australia from March 28.If he is successful, the social media platform could face a maximum penalty of $126,000 ($135,000 NZD) on each of three charges.Image: Getty Images

Legal

4 do’s and don’ts to stay scam-safe this year

Experts have warned that scams are on the rise as we spend more of our time online. In 2021, scammers reaped a record $324 million from unsuspecting Aussies, with the Australian Competition and Consumer Commission (ACCC) finding that it was one of the worst years on record for scams. As much as we hope to not come into contact with a scammer, it’s pretty likely to happen. These four do’s and don’ts can help you stay safe and not fall victim to a scam this year. 1. Don’t give in to fear Beware of emails that use fear to make you act, especially if it involves owing money. “What scams tend to use is social engineering so they’re trying to trick you into doing something,” eSafety Commissioner Julie Inman Grant told <a rel="noopener" href="https://7news.com.au/sunrise/on-the-show/how-to-avoid-getting-scammed-in-2022-c-5376842" target="_blank">7News</a>. In ATO and other financial scams, the culprits aim to send victims into <a rel="noopener" href="https://www.oversixty.com.au/finance/retirement-income/psychology-behind-two-common-scams" target="_blank">“amygdala hijack”</a>, resulting in the shutdown of the rational parts of our brain. To keep yourself safe, check the address or phone number of the sender, keeping an eye out for general email addresses or numbers that have nothing to do with the company they claim to be from. 2. Don’t reply, download or click According to experts there is one key difference between real and scam messages: major institutions will never ask you to click on a link. “Telstra and Microsoft aren’t going to contact you to service if you haven’t asked for it,” Inman Grant added. 3. Do download antivirus software On top of avoiding suspicious links, messages and phone calls, installing antivirus software can help prevent scammers from contacting you or getting your details in the first place. There are plenty of options available, but if you’re looking for a free service to start with, Avast is one good option. “It talks to antivirus companies’ research and threat labs to identify what’s bad and what’s good, so having that gives you that baseline protection … not having that is akin to leaving your door wide open,” Stephen Kho, a cybersecurity expert with Avast, explained. 4. Do report everything According to research from Avast, almost half of Aussies who have been scammed haven’t reported it, either because it wasn’t worth the hassle or they didn’t know who to report it to. “The more of us that report the information, the more data they have to work with the enforcement agencies, internet service providers and telcos to be able to block these scammers,” Kho said. If you have been scammed, it’s also important to report the scam to the relevant authorities, such as the <a rel="noopener" href="https://www.scamwatch.gov.au/" target="_blank">ACCC’s Scamwatch website</a> in Australia or <a rel="noopener" href="https://report.netsafe.org.nz/hc/en-au/requests/new?ticket_form_id=360000024755" target="_blank">NetSafe</a> in New Zealand. Image: Getty Images

Money & Banking

How to spot concert ticket scams

Music fans in Singapore are in for a treat with top acts like Maroon 5, Jason Mraz and Mariah Carey coming through in the next few months. However, with high tickets prices and sellout concerts, it’s getting harder than ever to catch a live show without contemplating selling an internal organ. The bargain hunters among us will turn to the next best place for tickets: online marketplaces like Carousell, Craigslist or Gumtree. But as anyone who has ever spent time on these sites will know, you need to exercise a great deal of caution or you could end up poorer with nothing to show for it. Heed these 4 warning signs that you could be dealing with a scammer, and save yourself some disappointment and some money! The tickets are cheaper than retail While there may be genuine cases where a legitimate seller will need to offload his tickets (for example, a work emergency that prevents him from going to the concert), it’s not realistic to expect him to incur a significant loss, especially if the tickets are for sold out concerts. If someone is offering deeply discounted tickets, keep scrolling! You are dealing with a scammer. The seller doesn't want to meet Alarm bells should ring if the seller doesn’t want to have a face-to-face meeting and wants to get the deal done quickly through an online funds transfer, promising to mail the tickets after you’ve paid. We’re willing to bet that you will never receive your tickets or hear from him or her ever again after you’ve transferred the money. If you’re one of the lucky few who has found a genuine seller, always insist on a face-to-face meeting in public to complete the transaction. However, there is still a possibility that the tickets are fake or duplicates so buyer beware. Opt for physical tickets If you’re buying tickets from a seller on an online marketplace, make sure you receive printed physical tickets and not PDF copies or e-tickets. The scammer may have sold the same e-ticket to several buyers, which means you won’t be able to use them. Read the reviews Does the seller have any reviews or is he a new member? Does he have other listings? Sellers who are new and don’t have anything else up for sale may be scammers looking to make a quick buck off the naïve and vulnerable. Stay vigilant! Image credit: Shutterstock This article first appeared on <a rel="noopener" href="https://www.readersdigest.co.nz/true-stories-lifestyle/how-spot-concert-ticket-scams" target="_blank">Reader's Digest</a>.

Music

Over 60

News

Shop

Catalogues

Travel

Health

Lifestyle

Finance

Entertainment

Property

Information

Keep up to date

Search

What ‘psychological warfare’ tactics do scammers use, and how can you protect yourself?

How to protect yourself from cyber-scammers over the festive period

1 in 6 older adults fall victim to impersonation scams

Hilarious reason dad couldn't be fooled by online scam

Facebook Messenger scams are on the rise – here’s how to protect yourself

Don't get caught out: 6 holiday scams ripping off travellers