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On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss the ups and downs of online auctions, the power of activist short-sellers, and tax time 2021.

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Steve Waters, director of Right Property Group, chats about online auctions and why they resemble “a bad Zoom meeting”, the growing resilience of the property market, and how Sydney’s lengthy lockdown could shake things up.

RMIT’s senior lecturer of finance, Dr Angel Zhong, delves into short selling – the original trade that sent GameStop stock soaring – and how activist short-sellers are impacting markets.

And lastly, tax and super guru Timothy Munro talks about those early tax lodgers and possible ramifications, as well as detailing the temporary shortcut method, which you may be able to use this tax time.

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

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7 signs it’s a scammer

By Grace Ormsby

January 29 2020
Share

Save

7 signs it’s a scammer

By Grace Ormsby
January 29 2020

Did you know that scammers usually operate like a business would? Instead of acting alone, most sophisticated scammers actually work in teams to extricate money from unsuspecting Australians.

7 signs it’s a scammer

By Grace Ormsby

January 29 2020
Share

Did you know that scammers usually operate like a business would? Instead of acting alone, most sophisticated scammers actually work in teams to extricate money from unsuspecting Australians.

Bank Australia has highlighted seven things that Australians should look out for to avoid being scammed.

Here’s what they said:

1. Scammers rarely work alone. That is, they are organised. Often, they actually operate like a business.

2. They’ll ask plenty of questions.

3. They use isolation tactics. It’s highly likely that if you are dealing with a scammer, they’ll ask you not to tell anyone.

4. They’ll create a sense of urgency. Whether it’s by telling you that you have been hacked or that you could be arrested, they’ll spur you on in a way that makes you feel like the matter needs to be dealt with immediately.

5. They’ll prey on the fear they create.

6. They know how to switch their story. If something doesn’t work on you, a scammer will change tact. For example, if you do not have internet banking, they’ll ask you for gift cards.

7. They will be overwhelming. A scammer will throw lots of information and numbers at you in an attempt to appear legitimate. This might include codes, reference numbers, complex-sounding language, fake screens on your computer or items to download.

The Australian Competition and Consumer Commission has previously issued a number of warnings to consumers to be wary, especially on the internet.

It has stated that “it’s best to assume scammers are everywhere, waiting for you to let your guard down”.

Be vigilant on social media, when shopping online and when answering the phone.

Also, never give anyone who has contacted you out of the blue any personal or banking details or remote access to your computer, no matter who they say they are.

Scams made nestegg’s list of 10 things you shouldn’t waste money on in 2020.

Forward this article to a friend. Follow us on Linkedin. Join us on Facebook. Find us on Twitter for the latest updates

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About the author

Grace Ormsby

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

About the author

Grace Ormsby

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