On the morning of September 4, Marge was faced with a completely blank computer screen.
A few attempts to turn it on – and a few panicked minutes – later, a message from “IT support” popped up. It offered to help.
Marge had to ring a certain number to connect with a technician. Then: “I was told by someone to do nothing and to wait for someone to call me, which happened after about 30 seconds.
“This, I have found out, was the beginning of many unauthorised transfers of moneys from my two accounts.”
Local scammers have bragged in online chat groups about using the scheme to buy iphones, alcohol and luxury goods as the government warns people to stay alert to cyberthreats.Credit: Aresna Villanueva
Devastatingly, the fraudsters first stole $49,500 from Marge, followed by $50,000, $10,000, $9000, and other amounts of smaller denominations.
“This was all over a period of three days and only stopped when a friend of mine visited and suggested to me that the so-called technicians could be my hackers, which turned out to be the case,” she recounted to me.
She was told not to turn off her computer or phone as they wanted to keep in contact; she was also urged not to answer any other calls “as they might actually be from the hackers”.
This scam is the remote access or Trojan type – with the fraudsters probably gaining access to Marge’s computer via a Facebook link she had used to purchase a new iPad (that never arrived).
By the time Marge realised she was the victim of such a sophisticated scam, only $229.80 could be recovered – though banks are working together to try to reverse fraudulent transactions, the rest of the transferred funds had been immediately cleared out of the recipient account. She wryly says: “Felt like having a huge party!”
This year, for the Money section, I’ve taken a deep dive into the scams perpetrated on our readers, in a bid to recover some of their lost money. And sometimes it has worked.
With a growing legion of criminals now trying to dupe you out of money, particularly over Christmas, Scamwatch has issued a comprehensive list – until fraudsters next evolve their tactics – of the most prevalent scams:
- Online dating and romance scams
- Investment scams
- Product and service scams
- Threats and extortion scams
- Job and employment scams
- Unexpected money scams
- Impersonation scams.
It’s worth keeping these broad categories or themes front of mind. Also be on high alert if you are, or intend, transacting any property. PEXA or settlement scams – where criminals discover your purchase intention and intercede with an authentic-looking mule account – are some of the fastest growing scams.
What should you do if you are scammed? Cut off all contact and immediately contact your bank.
Note well that a further layer of scams now exists too: for which you are targeted if you Google “how to reclaim money” or “How to get back money lost to a scam”. Many of the results that pop up are secondary scam sites, requiring payment up front or worse.
What has all my advocating for scam victims this year shown me?
The key to a bank being held liable, or issuing any refund, is never to hand over passwords, or verification, token or one-time access codes. It’s in the terms and conditions and if you’ve typed or told a fraudster, you are unlikely to ever see your money again.
Instead, never trust anyone who tries to get you to part with vital information. Always hang up and get the official number from your own search of an institution that cold calls you. Find out if the contact is legitimate.
Do not click on links anywhere, from anyone, that you don’t trust (including online shopping “stores”; reputable ones, too, are sometimes duplicated in “shadow websites”).
And remember, most scams lie beneath a convincing cover story: from an authority (a government institution, bank or a telco), a deeply-in-need person (sick or downtrodden), a love prospect (romance or dating scams) or a loved one (“Mum I’ve lost my phone”).
All are designed to get behind your defences … and into your bank accounts. Please stay safe from scams this Christmas. And have a wonderful one.
Nicole Pedersen-McKinnon is author of How to Get Mortgage-Free Like Me, available at www.nicolessmartmoney.com. Follow Nicole on Facebook, X and Instagram.
- Advice given is general in nature and is not intended to influence readers’ decisions about investing or financial products. They should always seek their own professional advice that takes into account their own personal circumstances before making any financial decisions.
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