What to Do if You Have Been Scammed Online in Australia

Australian citizens are one of the most targeted groups of traders by internet scams. Whatever the reason for that, be it their economic status or buying potential, the problem persists and requires special attention.

In the following article, we’ll be dealing with the sole concept of online scams and their variations, as well as the aftermath and concrete steps to take in order to ensure protection. Stay safe down under: learn to recognize and counter scams in order to protect both your personal and financial integrity.

What is an Online Scam?

Defrauding unsuspecting victims happens for many reasons – the main one being the financial gain of the masterminds leading the fraudulent campaign. It comes in many forms, sometimes from the sources and places you least expect them to appear in.

Due to technological development and better and more subtle communication channels, scammers can contact you in various ways: via email, phone, or any of the social networks. Therefore, the most common place where scamming occurs is the internet, whether on social platforms like dating sites, online trading portals, marketplaces or other sites.

The reason for that is that everyone is connected for one reason or the other. Countless Australians perform their professional tasks online, communicate with loved ones, and do many leisure activities. Ever since the COVID outbreak, many have been forced to move their work and education online.

As much as it helped us all stay connected better and still participate in social activities, it has brought numerous dangers. The internet became a breeding ground for cons of all types.

The way fraudsters act is so sophisticated and well-trained that you’ll not be able to figure out their intentions immediately. That’s why it’s of huge importance to educate yourself enough to always be cautious and able to spot the swindling attempt before it’s realized.

Types of Online Fraud in Australia

Over the years, the persuasion experts behind many of these cybercriminal groups have developed different approaches to their misbegotten business. Some of the most efficient strategies that have been used to rob Australian citizens are:

• Online dating scams – Swindlers are masters of deception, in many cases even better than professional actors. They act in such a way that manipulates you into thinking they’ve developed an emotional attachment towards you. Once the victim is convinced and emotionally engaged, their trust is abused for the purpose of financial gain. Romance scams online can damage the individual, not just economically, but in the psychological aspects of their functioning, as well. Therefore, the Australian Government’s Department of Health and Aged Care has a free online service for those in need of this type of support.
• Online phishing – Almost every single Australian has had the chance to encounter a phishing attempt. These can usually be recognized as a part of email spam that usually ends up in your junk folder. Phishing emails contain malicious links that lead to websites that are faithful copies of popular and highly frequented platforms and then demand you to share your personal information or sensitive data. Another way for the swindlers to force you into that is via flashy online ads. WhatsApp scams are usually centered around phishing, so beware of unsolicited messages you receive there.
• Investment scams – If you ever get a random call from a complete stranger who claims to be an investment expert, know that you’re targeted. These alleged investment managers and professional traders are trying to convince you to invest in their scheme or business proposal owned by a fraud website. With that, you’ll always hear promises about huge returns. Do not believe them for a second – your money will disappear as soon as you deposit it.

For a more detailed insight into the most commonly detected fraudulent attempts, feel free to visit the Australian Signals Directorate’s internet page dedicated to explaining types of fraud.

What is a Follow-Up Scam?

Unfortunately, the world is full of unscrupulous individuals who look only to kick you when you’re down. A follow-up scam exploits the fraud victims while they are in an especially vulnerable state.

The operation functions nearly identically to a boiler room, with only minute differences. Agents of these follow-up schemes may already have client information, such as personal ID and bank statements. They usually acquire this data from other con circles that work as phishing scams.

There are a few ways how these follow-up con artists get a hold of their victims:

• The same boiler room may pose as a primary fraud and then offer recovery to their victims to steal additional funds
• Boiler rooms sell relevant victim data to other fraudulent entities specialized in a follow-up operation
• Viral marketing through various social network comments, usually on rating sites such as TrustPilot or SiteJabber
• Shot-in-the-dark approach, where agents indiscriminately dial phone numbers and try to push a “You’ve been defrauded” scenario to random people

For additional information on this matter, feel free to refer to the Australian Securities & Investment Commission website.

Steps to Take After Being Scammed Online

Nearly all con artists rely solely on the victims’ emotional response to do further damage. Exploiting this exact state of emotional distress is the follow up scammers’ specialty.

Remain composed, and try to follow these steps:

• Do not accept any help from unknown individuals, as these are the exact people trying to pitch you a follow-up operation.
• Gather any financial transaction data such as bank wire slips, credit card transaction number, crypto wallet address, amounts, dates, times, et cetera.
• Try to recall any additional detail about your interaction with the fraudsters, and put it in pen and paper as you go. Gather digital data as well – screenshots, recordings, or any documents shared by the swindlers.
• Get in touch with the transaction service provider, be it your bank, e-wallet, wire transfer service, or a crypto wallet provider. Inform them about the fraudulent transaction and seek their advice in the matter.
• Depending on your federated territory of residence, a different government agency has legal precedent in New South Wales, Queensland, South Australia, Victoria, Tasmania and Western Australia. Further information is available on the Commonwealth Fraud Protection Centre website.
• Make sure to check ASIC Moneysmart guidelines for additional information on online fraud reporting.
• Report the experience to the IDCARE website to get help.
• Report the fraudulent action to ScamWatch, the main scam reporting website Australia.
• Visit the cyber fraud reporting website, ASD / ACSC.

How Can We Help?

Our company specializes in debunking fraudulent operations and assisting in the recovery of lost funds. Should you feel that getting involved in all the complexities of government inquiry, investigation, and research would be too time-consuming or detrimental to your health, feel free to contact our legal experts.

We offer a complete solution and are at your disposal as legal representatives in your recovery case. Our professionals have ample experience in the matter, with proven methods and strategies.

We are available around the clock for your convenience, and you may book your first consultation absolutely free using the live chat on our website.