November 17, 2021
Scam/Fraud

Warning tax time scams surging; how to avoid being fleeced

Australians busily getting their tax affairs in order for the end of the financial year have been issued a warning – scammers are about and tax time is the best time to extract cash from the gullible.

Last year, scams cost Australians $851 million, according to the Australian Competition and Consumer Commission (ACCC).

And very little of that money is ever recovered.

“Unfortunately scammers continue to become more sophisticated and last year used the Covid-19 pandemic to scam and take advantage of people from all walks of life during this crisis,” said ACCC deputy chair Delia Rickard.

But scam watchers have said there are some easy ways to avoid falling foul of a financial faux pas.

Why people are fooled

Tax time is the perfect opportunity for scammers, as taxpayers are often time-poor, working to a deadline and are conscious of the legal consequences of failing to comply,” Associate Professor Paul Haskell-Dowland and Dr…

Read full article here: www.news.com.au