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In this episode of The nestegg Podcast, host Maja checks in with our three experts to discuss this week’s biggest conversations about super, property and investment.

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Steve Waters, director of Right Property Group, talks about the current market and its growth prospects, hinting at a “revenge spend” period post-lockdown. Could property prices really inflate by a further 20 per cent?

Meanwhile, RMIT’s senior lecturer of finance, Dr Angel Zhong, talks about the earning season and dividends, delving into how companies decide distribution policy. Find out what is happening in the recent dividend announcements.

Last but not least, tax and super guru Timothy Munro talks us through the results of APRA’s inaugural super test and how engaged members should really be with their super. Timothy also touches on the super splitting law and what it means for relationship breakdowns.

Have a question for our experts? Get in touch at [email protected] and you might get featured in the next episode.

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Scammers posing as Telstra cost Aussies millions

By Reporter

August 27 2018
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Invest

Scammers posing as Telstra cost Aussies millions

By Reporter
August 27 2018

Scammers posing as several well-known companies, including Telstra, have cost Aussies more than $4 million in 2018 so far, the consumer watchdog warned this morning.

Scammers posing as Telstra cost Aussies millions

By Reporter

August 27 2018
Share

Scammers posing as several well-known companies, including Telstra, have cost Aussies more than $4 million in 2018 so far, the consumer watchdog warned this morning.

Telstra, the NBN, Microsoft and even the police have been used as fronts by scammers looking to steal banking details, the Australian Competition and Consumer Commission (ACCC) has warned.

The ACCC said it has seen a “significant spike” in these scams in 2018, with $4.4 million in losses already.

“The spike in remote access scams is very concerning; losses so far in 2018 have already surpassed those for the whole of 2017, and sadly it is older Australians that are losing the most money,” ACCC deputy chair Delia Rickard said.

“The scammers are becoming more sophisticated. The old trick scammers used to use was to call people and say there was a virus on their computer that needed fixing but, in a new twist, scammers are now telling people they need their help to catch hackers.”

She explained that scammers will tell their target that their computer has been compromised by hackers, and that they need to use the target’s computer to catch the fake scammer.

They will then pretend to deposit money into the target’s account by swapping money between the target’s accounts to give the appearance of a deposit. However, money is then sent out of the target’s account and into the scammer’s pocket.

“Unfortunately there are many stories from people who give a scammer access to their computer and are then conned into giving access to online banking,” Ms Rickard said.

“It’s vital that people remember they should never, ever, give an unsolicited caller access to your computer, and under no circumstances offer your personal, credit card or online account details over the phone.

“If you receive a phone call out of the blue about your computer and remote access is requested, it’s a scam 100 per cent of the time. Just hang up.”

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