5 things you HAVE to do if you’ve been scammed
Australians lost almost $300 million to scams in 2016 with 200,000 incidents reported. 45% of these victims were aged over 55. Here’s what to do if it happens to you.
1. Contact your financial institution
First things first, you need to stop the money. Most scams involve you giving out your bank details or having them stolen, so the scammers will be able to access your funds. Contact all banks, credit unions or credit card providers that you have accounts with and get them to freeze your accounts. You can also ask them to put extra security measures in place (like secondary passwords or voice recognition) in case something like this happens again.
2. Change your passwords
All of them. Even if they are for separate accounts that aren’t linked in any way, it is best to change every password you have. Once a scammer has access to even a small part of your online data, it is frighteningly easy for them to get into everything.
3. Report it to the authorities
Your next call should be to the police. You may need to make a statement at the police station so that you have a record for your insurance company or to make any claims of fraud to the bank. Depending on the type of scam, you may also need to report it to the Australian Tax Office, ASIC or another official body. It’s also a good idea to report it to Scamwatch, a government database that keeps a record of all scams going round.
4. Register with ACORN
The Australian Cybercrime Online Reporting Network is a national database of people who have been targeted by scammers. If someone is using your identity to fraudulently open bank accounts or commit other scams, it will show up once you have registered. This gives you a level of protection against any future crimes they could be committing in your name. You can also apply for a Commonwealth Victim’s Certificate that identifies you as a victim of identity crime and helps reestablish your credentials with government and financial institutions.
5. Alert friends and family
Some scams will use your contact list from a phone, social media or email account to directly target friends and family. Warn people to ignore any strange requests that seem to come from you. You can also post a general notice on your social media page telling people about the scam as many people will often be hit by the same people around the same time.
Have you ever been a victim of a scam?
This article is for general information only. You should seek formal financial advice on your specific circumstances.