Brilliant Money Solutions | Tax Agent | Accountants | Business Advisors
Brilliant Money Solutions | Tax Agent | Accountants | Business Advisors
Brilliant Money Solutions | Tax Agent | Accountants | Business Advisors

Latest Scam Warning



February 2021 phone scam - suspended TFN
The ATO are receiving increasing reports of people losing money to automated phone scams.

Scammers pretending to be from the ATO tell people their tax file number (TFN) has either been suspended due to illegal activity or compromised by a scammer.

They request the call recipient either pay a fine to release their TFN or transfer all bank funds into a holding account to protect it from future misuse.

The ATO does not suspend TFNs and will never request you pay a fine or transfer money in order to protect your TFN pending legal action.

Phone calls from the ATO do not project a number on caller ID and we will never send unsolicited pre-recorded messages to your phone.

If you receive a phone call like this, hang up and do not provide the information requested.

If you're unsure whether an ATO contact is genuine, phone the ATO on 1800 008 540 to check.

Report
You can report scams to the ACCC via the SCAMwatch
report a scam page or by calling 1300 795 995.



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Payment redirection scams cost Australian businesses $14 million
30 March 2021


Australian businesses reported over $14 million in losses to Scamwatch due to payment redirection scams last year, and average losses so far in 2021 are more than five times higher compared to average losses in the same period last year.

Total losses are much higher as these scams are reported to a range of different organisation's.

In a payment redirection scam, also known as business email compromise scams, scammers impersonate a business or its employees via email and request that money, which usually is owed to the legitimate business, is sent to a fraudulent account.

"Payment redirection scams impact businesses across many industries, including real estate, construction, law, recruitment, and universities." ACCC Deputy Chair Delia Rickard said.

"Scammers tend to target new or junior employees, or even volunteers, as they are less likely to be familiar with their employer's finance processes or the types of requests to expect from their supervisors."

"We recommend organisations ensure their staff are well trained in the companys payment processes and remain aware of payment redirection scams." Ms Rickard said.

For the full story click here.

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