Retirement
$320k in losses reported from charity scams
Fake charity scams are on the rise, with more in reported losses so far this year than the whole of 2017.
$320k in losses reported from charity scams
Fake charity scams are on the rise, with more in reported losses so far this year than the whole of 2017.
The consumer watchdog’s Scamwatch has already received 689 reports of fake charity scams in 2018, with losses totalling more than $320,000. This is a jump up from 2017, during which $313,563 worth of losses were reported.
In a statement issued for Charity Fraud Awareness Week last week, ACCC deputy chair Delia Rickard said scammers often target individuals at times of disaster or emergencies, such as the current drought. She said these scams could take the form of fake charities or be impersonations of legitimate ones.
“It’s important people are aware of these scams and take precautions to ensure their money is going to a genuine charity,” Ms Rickard said.
Fake charities can target people in a number of ways, including on the street, at their front door, through fake websites or via email or phone.
Adam Murchie, director at property investment firm Forza Capital, said the best means of avoiding such scams was by calling the charity directly.
“Anything involving the transfer of significant sums of money, make sure you make a phone call to verify,” the director said.
“We (Forza Capital) now do it that you have to have verbal confirmation from someone at the organisation regarding the transfer of money or the exchange of bank account details to avoid that risk.”
This echoes the advice given by the ACCC, which says individuals should also check the legitimacy of a charity by checking its credentials on the Australian Charities and Non-for-Profits Commission (ACNC) website.
This warning comes a month after the ACCC released figures showing a 3,800 per cent increase in false celebrity endorsement scams. Such scams typically appeared as an online advertisement of a product via social media and could possibly extend to the use of a celebrity’s image to endorse a fake charity.
Retirement Planning
Empowering your future: Financial literacy and retirement planning in Australia
In today’s complex financial landscape, achieving a secure and comfortable retirement requires more than just saving money. It demands a deep understanding of financial concepts and the ability to ...Read more
Retirement Planning
How much do you need to retire comfortably in Australia?
Retiring comfortably in Australia is a goal shared by many, but achieving this requires careful financial planning and a clear understanding of the cost of living. Read more
Retirement Planning
Retirement planning advice for Australians: Avoiding common pitfalls
Retirement planning is a critical step in securing your financial future, but it's fraught with potential pitfalls that can derail even the best-laid plans. Read more
Retirement Planning
Mastering financial planning for retirement in Australia
Financial planning for retirement is a nuanced journey that requires careful consideration and strategic planning, particularly in Australia's unique financial landscape. Read more
Retirement Planning
Crafting your retirement planning spreadsheet in Australia
Retirement planning is a crucial aspect of financial management, especially in Australia where the landscape of superannuation and investments offers unique opportunities and challenges. Read more
Retirement Planning
Maximising your pension plan in Australia: Strategies for a comfortable retirement
In the ever-evolving landscape of retirement planning in Australia, securing a comfortable retirement through your pension plan has become increasingly important. Read more
Retirement Planning
Supporting our veterans: A guide to financial resources and benefits
Military veterans have made invaluable contributions to their country, and in recognition of their service, there are numerous financial resources and benefits available to support them in civilian ...Read more
Retirement Planning
The ultimate retirement planning checklist for Australians
Retirement planning is a multifaceted process that demands careful attention to financial, legal, and personal considerations. Read more
Retirement Planning
Empowering your future: Financial literacy and retirement planning in Australia
In today’s complex financial landscape, achieving a secure and comfortable retirement requires more than just saving money. It demands a deep understanding of financial concepts and the ability to ...Read more
Retirement Planning
How much do you need to retire comfortably in Australia?
Retiring comfortably in Australia is a goal shared by many, but achieving this requires careful financial planning and a clear understanding of the cost of living. Read more
Retirement Planning
Retirement planning advice for Australians: Avoiding common pitfalls
Retirement planning is a critical step in securing your financial future, but it's fraught with potential pitfalls that can derail even the best-laid plans. Read more
Retirement Planning
Mastering financial planning for retirement in Australia
Financial planning for retirement is a nuanced journey that requires careful consideration and strategic planning, particularly in Australia's unique financial landscape. Read more
Retirement Planning
Crafting your retirement planning spreadsheet in Australia
Retirement planning is a crucial aspect of financial management, especially in Australia where the landscape of superannuation and investments offers unique opportunities and challenges. Read more
Retirement Planning
Maximising your pension plan in Australia: Strategies for a comfortable retirement
In the ever-evolving landscape of retirement planning in Australia, securing a comfortable retirement through your pension plan has become increasingly important. Read more
Retirement Planning
Supporting our veterans: A guide to financial resources and benefits
Military veterans have made invaluable contributions to their country, and in recognition of their service, there are numerous financial resources and benefits available to support them in civilian ...Read more
Retirement Planning
The ultimate retirement planning checklist for Australians
Retirement planning is a multifaceted process that demands careful attention to financial, legal, and personal considerations. Read more