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Protect Your SMSF: How to Identify and Report ATO Impersonation Scams

 

The rise in sophisticated scams targeting Australians has made it crucial for SMSF trustees and auditors to stay vigilant. As part of Scams Awareness Week, running from August 26 to 30, we're sharing vital information on how to protect yourself and your SMSF from ATO impersonation scams. The theme this year, "Share a story, stop a scam," (#ShareAScamStory) emphasizes the importance of community awareness and collaboration. 

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The Growing Threat of ATO Impersonation Scams​

 

With nearly 80% of scams reported this year being delivered via email, scammers are becoming increasingly sophisticated in their methods. They often pose as government agencies, like the ATO, to trick individuals into revealing sensitive information. However, there are simple steps you can take to protect yourself and your SMSF from falling victim to these scams.

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Key Tips to Protect Yourself​

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1. Avoid Clicking on Links in Unsolicited Messages

   • If you receive a message asking you to log in to a government service, such as myGov, and it contains a link, do not click on it. The ATO has removed all hyperlinks from unsolicited SMS messages to prevent these scams. Any message claiming to be from the ATO with a link is likely a scam.

2. Be Wary of Requests for Personal Information

   • Scammers often create a sense of urgency to pressure you into providing personal or financial details. Remember, the ATO will never ask for sensitive information like passwords, account numbers, or personal details via email, SMS, or phone.

3. Avoid Downloading Attachments from Unknown Senders

   • Suspicious emails may contain attachments that can infect your computer with malware, compromising your business's security and leading to fraud. Always verify the source before opening any attachments.

4. Monitor Unusual Activity on Your Accounts

   • Keep an eye out for any unusual transactions or interactions on your accounts. If you receive communication from the ATO that seems off, don't engage with it—verify its legitimacy first.

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Share Your Experience to Help Others​

 

During Scams Awareness Week, it's important to share your stories and experiences with scams. By reporting any suspicious emails or messages, you can help protect others in the SMSF community. Reporting scams to the ATO enables them to alert the public and take action against fraudulent websites.

 

If you encounter a suspicious email claiming to be from the ATO, forward it to reportscams@ato.gov.au or visit ato.gov.au/scams for more information. By staying informed and vigilant, we can work together to safeguard our SMSFs and protect the broader community from these evolving threats.

About Superannuation Audit Services

 

Superannuation Audit Services is a leading SMSF auditing company based in Melbourne, with a broad reach servicing clients Australia wide. Our experienced team is dedicated to delivering reliable and thorough audit services to ensure compliance with regulatory requirements, offering peace of mind to our clients.