Keeping your money safe online
Financial and investment scams are a real problem, and unfortunately affect a large amount of people every day. There are many different types of scams, including investment scams, ransomware, romance scams, identity theft, and more.
Before you send money to another individual, an investment opportunity, or any local or overseas organisation, it’s important that you understand how your money will be managed by the recipient and exactly who is handling the funds.
If it looks too good to be true, it probably is.
You should always perform your own independent research. You can do your own independent research by:
- searching for the name of the recipient on the web
- checking to see if the recipient is registered, or holds an appropriate regulatory licence in the region they operate from
- reading other people's reviews of the recipient's services
- asking a friend or family member to help review the situation and offer a fresh look at the recipient
- asking for assistance from the team at your bank or financial institution
You can also visit:
- Scamwatch, to check for existing scams or to report a new scam
- The Australian Cyber Security Center providing up-to-date advice on the latest reported cyber security issues, as well as general advice on staying safe online
- MoneySmart offering guides on protecting yourself from banking and credit scams, as well as investment scams and companies you should not deal with.
Digital currency transactions are impossible to reverse and may not be recoverable by your bank, or CoinJar.
Reporting a scam
ReportCyber is an official cyber crime reporting service run by the Australian Government. Your report will be passed to law enforcement agencies for assessment and intelligence purposes.
Although not all reports will be investigated by law enforcement agencies, all reports are important as they provide information on the latest cyber-crime activity and trends. You may be contacted by police if additional information is required.