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The ATO is encouraging individuals and businesses along with related SMSFs to share tips and experiences with each other as scams continue to be seen across the year.
This Scams Awareness Week (8-12 November), the ATO is encouraging individuals and businesses to start a conversation about scams. Passing on the ATO’s tips, or even sharing a scam experience, could help keep them safe.
“Scammers will often try to ‘phish’ for personal and financial information by impersonating government agencies like the ATO,” the ATO said.
“For example, we recently issued an alert about a new email scam. The email told the recipient they were due to receive a tax refund, but to get it, they needed to fill out a form with personal details like their name, date of birth, address and credit card number.”
The ATO noted it might use SMS or email to ask individuals to contact the ATO but will never ask to provide personal identifying information through these channels.
“We’ll also never threaten you with immediate arrest, cancel your TFN, send unsolicited pre-recorded messages to your phone and keep you on the phone until a payment is made,” the ATO said.
“The ATO will also not request payment via unusual methods, like cryptocurrency, gift cards or cardless cash.”
This comes as the ATO had reported an increase in scam behaviour that targeted SMSFs across the year.
In a recent column, SMSF Association CEO John Maroney also flagged the increased targeting of SMSFs from scammers.
“The scammers will keep on coming; access to SMSFs and other investors is easy,” Mr Maroney said.
“All investors must be on their guard and, where feasible, report anything suspicious to ASIC.”
Mr Maroney, who also spoke to Brendan Facey, ASIC’s senior executive leader for misconduct and breach reporting, warned that two alerts on potential investment bond and SMSF scams had already been issued this year and that SMSFs should be alert to the regulator’s warnings as it might help avoid a scam.
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