EOFY Scams Are Back – How to Protect Your Business This Tax Season

• EOFY Scams
• Small Business Security
• Tax Time Awareness

The Australian Banking Association warns small businesses of rising EOFY scams. Learn to spot fake sales, impersonation threats and phishing attacks.

Scam Alert: EOFY Season Is Prime Time for Fraudsters

As receipts pile up and inboxes overflow with end-of-financial-year (EOFY) deals, there’s another wave of activity happening behind the scenes: scammers are sharpening their tools to exploit the chaos.

The Australian Banking Association (ABA) has issued a strong warning to business owners and consumers alike. According to ABA CEO Anna Bligh, EOFY is a key opportunity for scammers to take advantage of the flurry of tax returns, sales events, and financial reconciliations.

3 Common EOFY Scams to Watch Out For

• Fake Shopping Sites: Scammers create websites that mimic legitimate retailers offering massive EOFY discounts. You pay, but the products never arrive.
• Impersonation and Tax Scams: Fraudsters impersonate the ATO, your bank, or your accountant. They send emails, texts or call you, urging you to act on urgent tax matters or offer fake refunds.
• Parcel Delivery Scams: These appear as fake SMS or email notifications, prompting you to click links to ‘confirm’ delivery or pay a fee, tricking you into giving away sensitive data.

The Financial Impact

Scams are no longer just irritating — they’re incredibly costly. The ACCC reports that scams cost Australians over $3.1 billion in 2022, with phishing and business email compromise being top contributors. Small businesses are especially at risk, often overwhelmed during EOFY and less equipped to verify every communication.

Why These Scams Work

Scammers are no longer hiding. They’re embedded in social media ads, emails, and even search results. They use brand logos, professional language, and fake landing pages that mirror trusted institutions. The pressure of EOFY makes their tactics more effective, especially when business owners are short on time and dealing with multiple priorities.

Top Tips to Stay Scam-Safe This EOFY

• Don’t trust unexpected messages: Always verify emails or texts with the company directly.
• Check the website URL: Look for misspellings or incorrect domain names.
• Pause before clicking: If something feels off, trust your instincts.
• Update your systems: Use two-factor authentication and maintain current security software.
• Report scams: If you suspect a scam, report it to Scamwatch or your bank immediately.

Final Word from the ABA

“Banks are doing more to stop scams in their tracks, but customer vigilance is essential,” Bligh says. EOFY should be a time to maximise tax benefits—not lose money to fraud. So, take an extra moment, double-check everything, and remember: if it seems too good to be true, it probably is.