There are many different scams and below we will touch on some that relate to superannuation.

Early release super: You may be contacted by someone advising they are a financial planner who can give you access to your super early for a small fee. Once you have agreed they will send the forms that you have completed to the super company on your behalf. However, they may have advised you that they will need to receive the payment directly. Once your super has been paid, the fraudster will than take out a large fee or worst give you nothing. Remember that it is against the law to take out super early without meeting conditions set by the ATO.

Investment scams: You receive an unsolicited call or email from someone advising of a great investment opportunity. They will promise low risk and high returns on your investment. This person may have documentation to prove their results and may seem legitimate. They will be persistent this may mean that they will call you multiple times to pressure you to commit to the investment. They may suggest taking money out of your superannuation in order to invest more.
It is important to never make a decision that you feel you are being pressured to make. Keep in mind that a legitimate business is unlikely to call you unsolicited and offer you financial products and will never pressure you into large investments.

What to do to protect yourself

Keep in touch

Keep us up to date with your details. It is sometimes easy to forget to notify your super fund when you have moved house or changed phone number. It is important to do this so that we may be able to contact you should any unusual activity occur on your account.
You can update your details by logging into your member account online or by calling us on 1300 658 776

Password Protection

Change your password regularly and make it secure. Passwords should be difficult to guess this means it should not contain things like your name, date of birth etc. You should use special characters in your password as well as numbers and capital letters. And never use the same password for everything.

Example:  {Tr35uR3_hun2er/} (do not use this example)

Unsolicited Contact

Take care when receiving unsolicited emails, calls and SMS. Criminals will contact you via these methods. Scam’s such as investment scam’s are very sophisticated. Often a victim will be called by a fraudster trying to obtain details about their finances. This may include such things as bank details, where your super is. They may even ask for such things as your date of birth, address and full names. Divulging this type of information gives them a foot in the door to compromise your banking and super accounts.
If you contacted by someone wanting to talk to you about your super, investments or retirement benefits and you are unsure, contact us on 1300 658 776. Remember never click on any links that were sent via email or SMS. 

Sent emails

Delete sent emails containing personal information. Too often, we forget that we may have sent an email to someone that may have personal information such as DOB, driver’s license passport details. This can then be accessed should your email account get hacked. 
And remember to keep all devices up to date with anti-virus protection.

Who should you contact?

If you have been threatened or in danger you should contact the police immediately.

If you have been scammed you can contact Scamwatch which is run by the ACCC and fill out a form to report the fraud on the following link https://www.scamwatch.gov.au/about-scamwatch/contact-us#contact-scamwatch You can also visit the Scamwatch site to keep up to date with the latest scams in Australia or moneysmart at  https://www.moneysmart.gov.au/scams/investment-scams 

If the fraud or scam involves your financial institution you should call them immediately and advise of the details that may have been compromised or if you have lost money. In the event that it involved super related enquires contact us on immediately 1300 658 776. 

If you believe that, your identity was stolen contact iDcare 1300 432 273. iDcare is a free service by the government to help you develop a response plan. You can apply for a Commonwealth Victims’ Certificate to help support your claim of being a victim of identity theft.