How to Protect Yourself From Scams

At Hewison Private Wealth we’re committed to raising awareness about scams and helping clients spot and avoid them.  This article is intended to bring to light what you should know and to share practical tips you can use to protect your money and personal information. 

The threat: scams are getting more sophisticated 

Scams are getting more sophisticated and anyone can be targeted. Scammers increasingly impersonate trusted organisations, pressure people to act quickly, and use convincing messages to steal money or personal information. The good news is there are simple, practical steps you can take to reduce your risk and protect your finances. 

How common are scams? 

Scamwatch – the ACCC’s national antiscam hub – receives thousands of reports and uses that intelligence to warn the public and disrupt scams. Importantly, Scamwatch data shows many victims are targeted again: around one in three people who have been scammed report being retargeted. Early action and prevention therefore really matter. 

Common types of scams to watch for 

• Impersonation scams: Scammers pose as banks, government agencies, couriers or even family members to trick you into sending money or revealing personal details. 

• Investment scams: Promises of high returns with little risk (including cryptocurrency schemes) that pressure you to invest quickly. 

• Job and employment scams: Fake offers that request upfront payments or personal information. 

• Product and services scams: Fake online stores, phishing merchant sites or altered invoices that redirect your payment. 

• Romance and relationship scams: Scammers build trust online, then request money for emergencies. 

• Threats and extortion: Blackmail or threats to release private images unless paid. 

• Unexpected money/prize scams: Claims you are owed money but must pay a fee or provide bank details to collect it. 

Frequent red flags: what scammers often ask for 

Scammers often request onetime codes, passwords, payments via gift cards or cryptocurrency, or transfers to new PayIDs or bank accounts. These methods are difficult to reverse and are frequent red flags. 

Stop – Check – Protect: simple steps that work 

• Stop: If you’re unsure, don’t click links, don’t install software and don’t transfer money. Pause and take a breath. 

• Check: Independently verify the contact details using the organisation’s official website or app (not a link in a text or email). If someone claims to be from your bank or the government, hang up and call the phone number on their official site. Check with family members or your adviser before making significant financial moves. 

• Protect:  Enable multifactor authentication (MFA) for accounts, use strong unique passwords (consider a password manager), keep devices and apps updated, and set account alerts for unusual transactions. 

If you think you have been scammed 

1. Contact your bank or card provider straight away and tell them it may be a scam. 

1. Report the incident to Scamwatch: www.scamwatch.gov.au (report form). 

1. Report online crime to ReportCyber: www.cyber.gov.au/report-and-recover/report. 

1. For identity recovery support contact IDCARE: 1800 595 160 | www.idcare.org. 

1. If you need emotional support call Lifeline: 13 11 14. If you’re in financial hardship call the National Debt Helpline: 1800 007 007. 

How we protect you (our verification process) 

At Hewison Private Wealth, if we receive any request to withdraw funds, roll over your super, open new accounts or any transaction request that may seem out of the ordinary, our standard process is to contact you using the verified phone number on your file before we take any action. We may delay processing until we have spoken with you and completed verification to ensure the instruction is genuine. Please tell us if you’d like to add or update a verified contact method on your file. 

Scammers rely on speed and surprise.  The best defence is a pause: stop, check and protect. When in doubt, contact your adviser.  

We have included a link to the ACCC’s handy “Little Book of Scams” – a short, practical guide.  Please take a few minutes to read it and keep it for quick reference here.