- EOFY scams
- ANZ warning
- Tax time safety
ANZ urges Australians to stay alert during EOFY 2025 as scammers target tax returns and online shoppers with sophisticated tactics.
Australians Warned of Rising Scam Threats During EOFY 2025
As the end of financial year (EOFY) approaches, ANZ is issuing a stern warning to Australians about the increasing risk of scams. From fake tax refund claims to dodgy EOFY sales websites, scammers are ramping up efforts to steal personal and financial information during one of the busiest times of year.
Spike in Scam Attempts During EOFY 2024
ANZ revealed a concerning trend from the 2024 tax season, with rebate scams surging by 50% in July and extortion scams increasing by over 60% in the same period. These scams typically involved cybercriminals impersonating the ATO or other government entities, often requesting urgent payments or personal details under false pretences.
Types of Scams to Watch Out For
ANZ identifies three key scam categories to be cautious of during tax time:
- Rebate Scams: Scammers claim you’re owed a refund or rebate and request a small upfront fee or sensitive information to release the funds.
- Threat and Extortion Scams: Victims receive threatening messages demanding payments or personal information under pressure of legal or immigration consequences.
- Online Shopping Scams: Fake websites or offers appear during EOFY sales, luring customers with prices that seem too good to be true.
Common Red Flags for EOFY Scams
Being able to spot a scam is crucial. Here are some signs to help protect yourself:
- Unexpected contact from someone claiming to be from the ATO, your bank, or another institution.
- Urgent requests for personal information or upfront fees to access rebates or avoid penalties.
- Suspicious links with unusual characters or domains that don't match official organisations.
- Unfamiliar payment methods requested when shopping online, like gift cards or bank transfers.
- Websites with poor grammar, inconsistent domains, or overly positive customer reviews.
What ANZ Will Never Ask You
To help customers stay safe, ANZ reminds you that they will never:
- Request sensitive banking details like passwords or passcodes via phone or email.
- Ask you to click a suspicious link to access your account.
- Instruct you to grant remote access to your devices.
- Direct you to transfer money to another account under pressure.
Staying Safe This Tax Season
ANZ urges Australians to stay vigilant. If you receive a suspicious message or call, take a moment to verify it directly with your bank or the ATO. When in doubt, do not click any links or provide personal information.
By staying informed and cautious, you can help protect your personal and financial data from falling into the wrong hands during this critical time of year.
Comments from our readers
Raising awareness
Great article! It's so important to stay alert during tax season and watch out for these scams.
Scam awareness story
I once almost fell for a rebate scam during EOFY. Thankfully, I double-checked and realised it was dodgy. Always trust your gut and stay cautious, especially this time of year. Great tips in this article!
Scams everywhere
It's ridiculous that we have to deal with all these scam threats during tax time! The banks should do more to protect us instead of just warning about these scams. Why can't they take stronger action instead of just sitting back and letting scammers run rampant?
Stay vigilant, mate!
Great tips here! It’s wild how sneaky these scams can be, especially around EOFY. I always double-check if something seems off, but it’s easy to get caught out. Let’s all keep our eyes peeled and protect our hard-earned cash. Thanks for the heads up, ANZ!
Scam alert nonsense
This is just another fearmongering article to make us paranoid. Are we really expected to believe these figures? Scammers will always exist, and this kind of sensationalism does nothing to help. Where’s the accountability for banks in preventing scams, instead of just pushing the burden onto us?