General News
10 July, 2023
Be wary of scams during tax time, ATO warns
With tax time approaching, residents are being warned to remain cautious as tax related scams begin to emerge. Tax time can bring stress and confusion for individuals and businesses as they prepare to file their returns with the Australian Taxation...
With tax time approaching, residents are being warned to remain cautious as tax related scams begin to emerge.
Tax time can bring stress and confusion for individuals and businesses as they prepare to file their returns with the Australian Taxation Office (ATO), which unfortunately creates a perfect time for scammers to target unsuspecting victims.
Australians lost over almost $500 million to scammers in 2022, according to the Australian Competition and Consumer Commission’s Scamwatch website, with $248 million lost already this year.
Mark Gorrie, managing director of leading cyber safety brand Norton said it was important people remain vigilant, particularly during tax time.
“There are certain times each year that pique cybercriminals’ interest and tax time is one of them,” he said.
“With the amount of personal and financial information that is being stored and shared at this time, coupled with the stress that comes with filing tax returns, it is the perfect storm for scammers to target Australians.
“Tax time can be difficult to navigate, and it can be easy to fall into the palm of a scammer offering to ease this burden. But it is important to understand that practising online security should never be sacrificed in exchange for convenience.
“In the wake of greater sophistication and a rise in AI that is aiding cybercriminals in evolving and developing their devious tactics, it is more important than ever that Australians are continuing to educate themselves on the warning signs.”
With a high number of ATO impersonation scams reported so far this year, the ATO advises residents to consider the following tips to avoid being scammed:
• Look out for tell-tale signs of a scam. The ATO won’t use urgent threats, such as arrest, payment, or suspension of your tax file number. If contacted via social media by a newly created unverified account with a small follower account, delete the message. The ATO only has official accounts on Facebook, Twitter, and LinkedIn — legitimised with verification ticks and over 10 years of activity.
• If you receive a suspected scam email or SMS, do not click on any links, provide any payments, account log in information, or other personal information.
• Occasionally, the ATO will contact you by phone, email, SMS, and post. If you are not sure about the validity of any communication, the best thing to do is to call the ATO directly. You can obtain a phone number from their official website, or a previous letter you have received, and validate the request.