Protecting Your Data: How to Avoid Scams

Cyber and data security continue to be an important part of our everyday lives and an ever-present threat to all Australians. At Collective Wealth Advisers, we prioritise the safety of your data and continuously strive to educate our clients on how to identify and avoid scams.

Secure Client Portal

For clients using our Collective Wealth Advisers Client Portal, rest assured that it employs the same 256-bit encryption banks use to protect your private details. Our portal also features a layered security infrastructure with multiple “checkpoints” to minimise risks, similar to banking systems.

Don’t Fall Victim to Scams!

Scams can take various forms, including threats, extortion, unexpected winnings, fake charities, bogus investments, romance scams, and get-rich-quick schemes. When dealing with unsolicited contacts from people or businesses, always consider the possibility that it might be a scam. Remember, if it looks too good to be true, it probably is.

We aim to empower you to recognise scams and encourage you to verify the authenticity of any communication or offer you receive.

Tips to Spot Potential Scams

– Urgent or Unexpected Requests: Be wary of messages urging you to act quickly or out of the blue.

– Threatening Calls: A caller demanding immediate payment or asking to access your computer remotely.

– Suspicious Links or Attachments: Emails or messages asking you to click on links or open attachments.

– Requests for Personal Information: Someone asking for your passwords or personal and financial details.

– Unusual Payment Methods: Requests for payment via cryptocurrency, gift cards, or bank transfer.

– New Bank Account Requests: Being asked to transfer money to a new bank account.

– Unsolicited Financial Offers: Unrequested offers of financial or investment advice and products.

– Too-Good-to-Be-True Offers: Promises of fast or guaranteed money with little to no risk.

Be Careful with Links and Attachments

Avoid clicking on or downloading anything you don’t trust, especially from unexpected or suspicious texts or emails. Instead of clicking on provided links, navigate to login pages or websites yourself.

Protect Your Personal Information

Never give personal information to a stranger. Scammers often pose as legitimate contacts to obtain your details, hack your accounts, or steal your identity.

Be Cautious with Payments

Use secure payment methods, such as a credit card, for transactions.

Verify Before You Buy

If you’re buying something from a site or seller you haven’t used before, research first to ensure it’s a trusted source.

Remember, scammers can impersonate anyone online, including government agencies or your bank, so you can never be entirely sure who you’re dealing with when contacted unexpectedly.

We’re Here to Help

For more information on protecting your personal information, visit the Office of the Australian Information Commissioner (OAIC).

To learn more about how to protect yourself from scams, visit Scamwatch. You can also contact your adviser to discuss this in more detail.