Top 5 tips to keep yourself safe from scams

The New Year is a great time to review your business security. 

Kothes director Gary Pearce has seen a high number of scams during his accounting career which started with the Australian Tax Office before he started working at Kothes Bega in 1989.

From highly-sophisticated online hacking to the age-old phone call to your home phone requesting immediate payment of a tax debt, Gary gets regular queries from accounting clients who are wondering if they’re the target of a scam.

Scams have become very sophisticated and you can easily fall into a trap without knowing it.

Gary says the most targeted age group is over 65, although nobody is immune.

If you are online and have an email address then you are a target. Some of the more common scam emails we come across are phone bills and renewal notices for business registrations, accounting programs and company details.

Gary says it is also critical to protect your business from scams.

“It’s very easy to get caught out and you need to put things in place within your business to protect your own business information plus any confidential information you hold for your clients and customers.

“Employee identities can be stolen, giving scammers everything they need to set up new bank accounts and create new loans. I know of people buying and selling real estate who have been scammed when they’ve paid money into what they think are legitimate real estate or solicitor trust accounts.”

GARY’S TOP 5 TIPS TO KEEP YOURSELF SAFE FROM SCAMS

1. Have a two-factor authorisation for anything that requires a password and don’t use the same password for different software. For example, ensure you have different passwords for your bank accounts and your accounting program.
2. Be wary of emails asking you to click on links. If you receive a suspicious email from your accounting software program, ASIC or the ATO that you’re not sure about, please contact your accountant who will be able to verify whether it’s a scam.
3. Use the latest software programs in your business and install all updates as soon as they become available.
4. If someone leaves a message on your phone regarding a tax debt and leaves a phone number for you to call, please ignore it and don’t call back. Similarly, if you answer a call saying you owe money to the tax office and need to pay immediately, hang up the phone.
5. Make sure your business files and employee information are secure. The ATO has a good checklist which links to a questionnaire where you can self-assess how secure your business is. Click HERE to get started.

If you are the target of any scams you can report them to Scamwatch. You can also find out the latest scams on their site: https://www.scamwatch.gov.au/