Cybercriminals are now targeting Australians with superannuation scams, attempting to exploit the most vulnerable people suffering financial hardship during the COVID-19 crisis.
Australians now have access to their super fund from mid-April and can draw down a percentage of cash to keep them afloat. Since the changes permitting fund access were announced in March, the ACCC’s online watchdog, Scamwatch, received 87 reports of fraudulent advances, as scammers attempted to obtain personal information that could give them access to the victim’s super fund.
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How to avoid scammers
“Scammers are offering to check if a person’s super account is eligible for various benefits or claiming the new scheme will lock people out of their accounts.”
If you plan to apply for early super fund release, you should register online using your MyGov account. The Government says they will notify anyone who registers by email or SMS when applications open. More details can be found here.
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This latest criminal enterprise is just one of the hundreds of scammers cashing in on the COVID-19 crisis. Head to the Scamwatch website to find out more known scams or to report a scam.
Kinetic IT’s PROTECT+ Security Operations team continues to monitor and track these malicious behaviours and will warn our customers and the public as we learn of them.
You can find more cyber security information and news on our website.