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Scammers taking advantage of super members

ScamWatch, a division of the Australian Competition and Consumer Commission (ACCC) that helps protect Australians from scams, has reported an increase in scams since the Coronavirus crisis began.

The ACCC has advised that scammers are taking advantage of people financially impacted by the Coronavirus crisis by falsely selling products or services online and using fake emails or text messages to try and obtain personal data.

There are also reports of scammers offering to check if a person’s super account is eligible for various benefits (such as the early release of super) or claiming new schemes will lock people out of their accounts.

In 2019, Australians lost over $6 million to superannuation scams with people aged 45–54 losing the most amount of money.

Please remember, never give any personal information about your super to someone who has contacted you. You should first confirm who has contacted you and make sure they are a legitimate company or government representative. Hang up and call the organisation directly by doing an independent search for their contact details.

If you think you may have provided information about your IOOF super account to a scammer, contact us immediately.

If you have provided personal or banking details in relation to another institution, you should contact them as well.

You can also contact IDCARE, a free Government-supported service which will work with you to develop a specific response plan to your situation and support you through the process.

More information on Coronavirus scams is available on the Scamwatch website, including how to make a report and where to get help.

You can also follow @scamwatch_gov on Twitter and subscribe to Scamwatch radar alerts.