Scams and Fraud

Common Scams

It’s scary to think about, but over 150,000 scams were reported in 2019. Credit and debit card fraud is one of the fastest growing crimes in Australia. The statistics for 2020 are set to be significantly higher due to COVID. Already there have been over 170,000 scams reported in 2020.

To stay a step ahead of this criminal behaviour, we have put together a resource of common types of scams and how to protect yourself from becoming a victim. However, we encourage our members to contact Scamwatch for the latest information on scams and how to report them to the authorities. You can visit the Scamwatch website here.

However, If our member’s suspect that they have been scammed or would like them to call us immediately to check the authenticity of a message, email or telephone call that you have received particularly if the suspect communication is reported to be from The Mutual Bank, please call us 1300 688 825 for assistance.

Online shopping scams

Becoming more prominent due to the COVID lockdowns and the increase in online shopping activity, online shopping scams can come in many forms.

Romance and Dating Scams

Usually taking place through dating apps and websites, romance and dating scams can be hard to detect due to their play on emotional triggers.

Remote Access Scams

This kind of scam is when you receive a call where the person on the line is claiming to be from a well-known bank, telecom or the government.

Money Muling

It’s commonly thought that money mules are part of a crime syndicate but what usually happens is that scammers will trick people into letting them run money through their account.

Phishing scams

By far the most common type of scam. Usually in the form of a text or email, phishing scams will provide a link and ask you to click on it.

Rental Scams

Another scam which has thrived during the pandemic, rental scams have seen a 76% increase in 2020. Scammers will impersonate a real estate agent and decline the request for an inspection due to COVID restrictions.

Investment Scams

Investment scams aim to get you or your business to hand over money with the promise that there will be a return later.

Scams that target workplaces

Usually in the form of an email that has come from a co-worker, scams can also target workplaces so it’s important that staff are aware of these scams.

Fake Charity

Around the time when a disaster has occurred, such as the 2019/20 bush fires, scammers will call and impersonate a charity asking for donations.

Protect yourself from scams