Consumers have been warned to be alert to scams over Christmas as a festive fraud frenzy grips the marketplace.
The NGM Group, which operates the Greater Bank and Newcastle Permanent, said last year Australians experienced $25 million in scam-related losses in December.
The group’s Chief Operating Officer, Stuart Hall, said scammers were particularly active during the festive season.
“They take advantage of the holiday rush, targeting people with increasingly sophisticated tactics that can catch even the most cautious among us off guard,” he said.
“Knowing the warning signs and being aware of common scams can make a huge difference.”
NGM released the following guide on what to watch out for.
Bank-Related Scams: These include fraudulent texts, emails, or calls that claim to be from your bank. Scammers may tell you there’s a problem with your account or that you need to verify a transaction.
Delivery and Postal Message Scams: With the spike in parcel deliveries, scammers are sending fake notifications that claim you owe delivery fees or need to reschedule a package. These messages often include links to malicious websites where scammers attempt to capture your personal and payment information.
Fake Online Stores: These sites can lure holiday shoppers with deals that seem too good to be true.
Facebook Marketplace Scams: Scammers may pose as buyers or sellers on Facebook Marketplace, using fake profiles and deceptive payment methods.
Social Media Shopping Scams: Be cautious of advertisements and sponsored posts on social media offering huge discounts or limited-time offers. Many of these posts link to fraudulent websites designed to steal your payment details.
The following tips were offered to avoid being a fraud victim
Stay Sceptical of Unexpected Messages: If you receive a message that appears to be from your bank or a delivery service requesting urgent action, be cautious.
Monitor Your Bank Accounts Closely: Keep a close eye on your bank statements and set up alerts for unusual activity.
Verify Before You Buy or Donate: Only shop from reputable online retailers and research unknown sellers. Be equally cautious with holiday charity appeals.
Support Vulnerable People: Help protect family members, friends, or neighbours who may be more at risk. Assist them with online shopping and discuss common scams to watch out for.
Use Strong Passwords and Enable Two-Factor Authentication: Ensure your bank and shopping accounts are secured with strong, unique passwords and, if possible, enable two-factor authentication.
“Fraudsters are getting more sophisticated, but there are ways to stay one step ahead,” Mr Hall said.
“Taking a moment to think before you click or make a payment can prevent a lot of headaches.”