Scams - ASAP

Question 1

What is a Scam?

Answer 1

Scams or rip-offs refer to dishonest and often illegal activities designed to take advantage of consumers, tricking them into giving away their personal details, information and money.
- Causes emotional harm
- Scams target people of all backgrounds, ages, and income levels across Australia

Question 2

Scamwatch:

Answer 2

• Run by the Australian Competition and Consumer Commission (ACCC)
• It provides information to consumers and small businesses about how to recognise, avoid and report scams

Question 3

Types of Scams:

Answer 3

= Pyramid Schemes
- Phishing
Managing your Superannuation

Question 4

What are Pyramid Schemes scam?

Answer 4

makes money by recruiting people rather than by selling actual products or services, even if the scheme includes the selling of a product. Participants are usually asked to make a payment to join and are promised payments for recruiting a number of other new participants (who also make payments).

Question 5

What is Phishing scam?

Answer 5

Online scam where criminals send an email that appears to be from a legitimate company asking individuals to provide sensitive information

Question 6

What is Managing your Superannuation scam?

Answer 6

Each employee has their own default superannuation fund provider they will use. People often contact with their super provider they will use. People often lose contact with their super funds when they change jobs, move house or forget to update details. Criminals then are able to access their superannuation from their old details because the individual hasn’t updated their new details.