Increase in Scams
The ATO are concerned about an increase in scams involving fake superannuation investments.
Scammers are phoning and emailing people, pretending to be financial advisers or super experts. They are encouraging people to invest their super in a supposedly high performing self-managed super fund (SMSF).
These scammers will start by asking you for some information and may ask you to do a super comparison online. They are likely to be persistent and may contact you multiple times.
Sometimes, they will fraudulently use the name and Australian Financial Service Licence (AFSL) of a real business and set up a fake website to appear legitimate.
They will tell you there is no need for you to engage directly with the ATO, ASIC or any other tax or super professional.
If you agree to invest, they will transfer your super into bank accounts they control and disappear with it.
Even if you don’t agree to invest, if you provide them with enough personal information, they may use this to transfer your super from your existing account without you knowing, ultimately stealing your super savings.
Always check who you are dealing with before providing any personal or financial information.
Scammers are also trying to trick people into making payments by pretending to be from the ATO and other agencies, such as the Australian Federal Police.
They might tell you that your TFN has been suspended or compromised due to money laundering or other illegal activity, or that you owe a debt.
They might also tell you that you are entitled to a refund.
Do not provide the information requested, do not click on any links in text messages or emails and delete them straight away.
Remember the ATO will never ask you for personal information by email, text messages or a pre-recorded voice message.
If you’re ever unsure whether an ATO contact is genuine, hang up and phone the ATO on 1800 008 540 to check.
If you have questions in relation to the above, or any other matters, please do not hesitate to contact our office on 1300 620 345.