It seems these days we have to be more aware than ever to guard against those who wish to take our hard-earned money.
From banks and online shopping to emails, stolen parcels and everything in between, we are constantly reminded to stay alert to fraudulent schemes that threaten not only our finances, but also our peace of mind.
In recent times, banks have introduced further layers of security to what was already a fairly robust system.
The call-back verification or one-time access code may feel cumbersome at first, but with a little reflection, that extra step – and the extra time it takes – could save you thousands of dollars.
Other organisations are doing much the same. Energy companies like Origin, government departments, and even those holding your shares or other vital personal information are tightening their safeguards. These measures are not about inconvenience; they are about protection.
Even something as significant as selling your home is now vulnerable. With so much information exchanged online, buyer and seller details can be exposed to sophisticated scams.
Sadly, it is not uncommon to hear of people being fleeced of their life savings simply because one vital detail was not checked.
In previous columns, I have mentioned the “Little Black Book of Scams”, a free publication from the National Anti-Scam Centre, an arm of the Australian Government.
It is a practical guide to spotting, avoiding and protecting yourself against scams, and it is available at no cost through your local member.
Every day, countless people fall victim to scams, and I acknowledge how difficult it can be – particularly for elderly Australians – to grasp the scale and seriousness of online threats.
Children of ageing parents also have a role to play. Watching over financial behaviour can be sensitive, especially when families want their parents to live full, independent lives. However, it is important to remember that scammers do not discriminate. They do not care if their target is a grandmother, a widow or widower. They want one thing only: your money.
This is also a wake-up call for our children to think about the future. Unless younger generations understand the implications of a fruitful life and a purposeful ending, they too may find themselves vulnerable in a future that is not always kind.
