Wednesday 26 July 2023

ACCC warns scammers targeting Australia’s largest loyalty reward programs

 

Scammers are more than just annoying people who persistently phone at inconvenient times or send begging emails from exotic locations. These days the ploys they use are often more sophisticated and mean their victims can lose money from bank accounts or find themselves with an unexpected debt within minutes of one click of a link or press of a button.


This is the most recent warning of scammer activity.....


The Guardian, 25 July 2023:


The ACCC has issued an urgent warning to customers of some of Australia’s largest loyalty reward programs, including Qantas frequent flyer, after detecting a new scam that targets valuable points.


The National Anti-Scam Centre has received 209 reports to Scamwatch in the past four months, of the scam targeting Qantas frequent flyer, Telstra and Coles loyalty programs customers.


It comes as new research from Choice shows the majority of Australians think banks should reimburse scam victims, as the consumer association joins calls for financial institutions to provide some form of compensation.


Australians lost a record amount of more than $3.1bn to scams in 2022, up from the $2bn lost in 2021, according to ACCC figures.


New data from Commbank released on Tuesday showed Australians are becoming more cautious of answering the phone because of the increase, with three in four (76%) people only picking up if they recognise the number.


With the new scam, consumers receive a text message or email stating their loyalty points are expiring. It includes a link to a fake website, which prompts customers to log in. Customers may also be prompted to provide credit card details to use loyalty points.


Scammers then steal customers’ points, their login details and personal information to use on other platforms and commit identity fraud.


Scammers then steal customers’ points, their login details and personal information to use on other platforms and commit identity fraud.


The vast majority of reports to Scamwatch received so far are in relation to Qantas frequent flyer, Telstra and Coles loyalty programs, but Australians should be aware that any loyalty program could be targeted, ACCC deputy chair Catriona Lowe said.


The National Anti-Scam Centre has contacted the companies that have been impersonated by scammers and is working with web host providers to have the fake websites taken down, to minimise harm to the community,” Lowe said.


We are very concerned that Australians experiencing cost-of-living pressures may be more susceptible to these scams. Scammers are deliberately panicking consumers by claiming their points are expiring soon. We urge people to immediately delete or ignore any message regarding a loyalty program that contains a link.”.....


Three golden rules when answering the phone, reading an email or scrolling a text message, according to the Australian Government National Anti-Scam Centre:


STOP – Don’t give money or personal information to anyone if unsure

Scammers will offer to help you or ask you to verify who you are. They will pretend to be from organisations you know and trust like, Services Australia, police, a bank, government or a fraud service.


THINK – Ask yourself could the message or call be fake?

Never click a link in a message. Only contact businesses or government using contact information from their official website or through their secure apps. If you’re not sure say no, hang up or delete.


PROTECT – Act quickly if something feels wrong.

Contact your bank if you notice some unusual activity or if a scammer gets your money or information. Seek help from IDCARE and report to ReportCyber and Scamwatch.


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