The global threat of scams

Whether because of study, work, shopping, or socialising, a large proportion of our lives is spent online. But how can we ensure that we’re protected against scammers who might steal our money or identity?

With the holiday season upon us, we’ve handpicked the best hints, tips and resources to help you identify and protect yourself from the ongoing threat of scams.

This article is for general information only. We have not considered your personal situation. You should consider whether the information is appropriate before acting on it. This article was originally published in December 2020 and updated in December 2021.

So, how can you protect yourself?

Before we answer that question, let’s define what a scam is. While fraud is any activity that you have no knowledge of, a scam is when you collaborate with the perpetrators in some way; even if you don’t know that you’re doing so.

According to the Scamwatch website: “Scams succeed because they look like the real thing and catch you off guard when you’re not expecting it. Scammers are getting smarter and taking advantage of new technology, new products or services and major events to create believable stories that will convince you to give them your money or personal details.”

Once scammers have your personal information, they can commit fraudulent activities such as using your credit card to make online purchases or opening a bank account.

For more information on the different types of scams, go to the Scamwatch website.

Prevention is better than a cure

Scams can be very convincing, so knowing how scammers work can significantly reduce your risk of becoming a victim. Scamwatch has comprehensive information on how to spot a scam and protect yourself from the threat, or visit the Health Professionals Bank security hub for our hints and tips.

In general, when it comes to your online safety:

• Never share your pin number or security codes with anyone.
• Never give out your details online. Scam emails ask for personal information such as passwords, access codes, your date of birth or bank details. The scammers can use this information to take your money.
• Choose a hard to crack password of at least 13 characters, containing a mix of letters, symbols, upper and lower case.
• Never click on any unsolicited links, articles or emails.
• Never download software to your computer from a source that isn't reputable.
• Do you know the person or organisation who is contacting you, or is there a valid reason for them to do so? If the answer is no, then do not engage with them.
• Never give anyone you don’t know remote access to your computer or device.
• Does the offer you’ve received appear too good to be true? If so, there is a good chance it is a scam.
• If you’ve been contacted about an investment, check if the company is registered on the ASIC website to make sure they are legitimate.

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If you would like to educate yourself further about how to protect yourself against scams, the Australian Cyber Security Centre (ACSC) provides relevant and timely information on how individuals and businesses can protect themselves from threats such as software vulnerabilities, online scams, malicious activities and risky online behaviours.

What to do if you’ve been scammed

Scammers are becoming increasingly sophisticated in their attempts to steal your money and/or personal details. Even when armed with the best information, it’s still possible to fall victim to a scam.

If this happens, or you are concerned that your account has been compromised in some way, please contact Health Professionals Bank immediately so we can limit any further damage.