Scam Awareness Week: ACCC warns of spike in scammers targeting farm businesses

There has been a noticeable spike in scams around buying heavy farm machinery. Here’s what you can do to protect yourself from scammers.

Central Queensland farmers are being warned to be on alert for scammers, with up to $424.8 million lost to scams across Australia already this year and farm businesses alone representing $1.2 million of that figure.

As part of Scam Awareness week 2022, the Australian Competition and Consumer Commission is educating people on how to spot a real communication from a legitimate person and/or organisation and how to report a fake.

The ACCC says the number of Australian people and businesses scammed had risen by 90 per cent from January to September in comparison to last year and shockingly, farm businesses have reported a 20 per cent jump in scam losses.

There has been a noticeable spike in scams around buying heavy machinery, which makes up more than $1 million worth of total scam losses.

Australian Banking Association CEO Anna Bligh agreed with the sentiment that the vast majority of scammers got away with their illegal activities because most people in regional areas didn’t report it.

“These reported figures are likely the tip of the iceberg,” Ms Bligh said

“With the number of scams for farmers and small businesses in regional areas increasing, there are some simple steps that can be taken to help protect people from scams.

“Services in Australia such as PayID, BPAY and e-invoicing will show who you’re paying before you pay, ensuring you pay the correct person, before you make the payment.

“PayID is user friendly, free to register and is offered by more than 100 banks, building societies, credit unions and other organisations. We encourage farmers and small businesses in regional areas to use a PayID as the more payments made with PayID the more protected customers will be.”

Commonwealth Bank of Australia CEO Matt Comyn (fourth from right) is seen alongside Anna Bligh, the CEO of Australian Banking Association (second from right) during a meeting with Australian Federal Treasurer Josh Frydenberg (centre) and other banking executives in Sydney, Wednesday, March 11, 2020. (AAP Image/Fairfax Media Pool, Peter Braig) NO ARCHIVING

Ms Bligh said it was a bank’s job to help clients who had lost money as a result of a scam and that safeguarding not only a client’s money but their personal information was the number one priority for Australian banks.

“Farmers and small businesses are encouraged to speak with their bank about the best way to protect their accounts and if they notice any suspicious activity or think they have been scammed, it’s important to report this to their bank immediately,” Ms Bligh said.

“Unfortunately we’ve previously seen instances of scammers taking advantage of flood-impacted communities and targeting those most vulnerable.

“Sadly, we all need to be on the lookout for those impersonating government, volunteer, insurance and other organisations and report scammers to Scamwatch.”

To safeguard yourself from scammers, follow these easy tips:

• Scammers target anyone, anywhere and at anytime and they also appear to be genuine even though they’re not.
• Never share your personal information or passwords with anyone.
• Anyone who asks for your password to something is most likely trying to defraud you.
• If any email gets sent to you that looks suspicious in any way, play it safe and delete it.
• Make it a habit to look over your bank account history to see if you find any transactions that don’t look like any ones out of the ordinary.
• Use up to date antivirus software on your computer.
• Don’t send money or personal information to people from unusual locations.