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On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss the property price movements, fintok and finfluencers, and tax time.

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Steve Waters, director of Right Property Group, chats about the resilience of the property market in Victoria, where another lockdown is currently in place, as well as Westpac’s latest surprising predictions for property price movements.

RMIT’s senior lecturer of finance, Dr Angel Zhong, reveals the rise of fintok and finfluencers and the dangers social media presents to financial markets.

And lastly, tax and super guru Timothy Munro talks about tax time. He reveals what Aussies need to be mindful of as we head towards 30 June, and why some should look at engaging a professional 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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COVID-19 not the only virus going around

By Grace Ormsby

April 08 2020
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COVID-19 not the only virus going around

By Grace Ormsby
April 08 2020

With a large number of Australians now confined mostly to their homes, a lawyer is warning that predatory cyber scammers are very active right now.

COVID-19 not the only virus going around

By Grace Ormsby

April 08 2020
Share

With a large number of Australians now confined mostly to their homes, a lawyer is warning that predatory cyber scammers are very active right now.

EAGLEGATE Lawyers’ principal Nicole Murdoch has flagged scammers are targeting common vulnerabilities at this time: From job seekers with fake job advertisements to bogus links to official coronavirus information websites, or even accessing superannuation.

The lawyer is warning that cyber criminals “thrive” on disorder and panic.

“They regard the upheavals caused by the coronavirus shutdowns as a magic time for them to strike as people adjust to working from home, or trawl the net looking for entertainment or distractions,” she outlined.

She is warning people not to let down their guard, despite it being “very strange times”.

She has cited a report from the Australian Cyber Security Centre (ACSC), which is alerting Australians to the rise in cyber criminals based across the world who are launching COVID-19-themed malicious cyber activity.

A key concern for the agency is cyber criminals who are looking to prey on businesses attempting to transition to a remote workforce, according to the ACSC’s acting head, Karl Hanmore.

Fake job advertisements are asking job seekers to provide licence details for identity theft, or SMS and email messages are being used to “fleece” unsuspecting people.

Mr Hanmore said the ACSC is seeing “a whole bunch of” requests that ask people to “click a link”.

“Their day job is to steal money and they do that with sending SMSs or email messages that will look fairly official and asking you to click a link.”

“Click a link to learn more about the coronavirus, click a link and then download a file so that you can update a form to get free money from the government - also a scam,” he has highlighted.

From Ms Murdoch’s perspective, it’s crucial Australians are suspicious of any SMS or email messages that you receive from people you don’t know.

“It’s all about stealing your banking details to hack into your account and drain your money,” she said.

“Clicking on unknown links, could redirect your phone or computer to a website where nasty predators will download malware, or a computer virus, onto your phone or PC.”

The lawyer said cyber criminals are also targeting superannuation, by offering to “assist” you to access the funds.

“In reality, they are only assisting themselves,” she added.

“Do not simply open or download apps or files that may be unfamiliar to you. If there’s any doubt at all, go to the official website for the organisation and see if you can verify the authenticity of a message,” she urged.

“We are all going through a lot at present and we don’t need the added stress of having to deal with theft,” Ms Murdoch concluded.

The lawyer’s warning comes after a recent warning was sounded by the ACCC as to the rising number of cold calls offering to facilitate the early access to super.
https://www.nestegg.com.au/save-money/scams/super-scammers-get-latest-kick-from-cold-calls

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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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