The latest research shows that in Australia in 2023, over 301,000 scam reports were filed, marking a 26 percent increase from the previous year, with financial losses surpassing $477 million.
Retail and social media scams are the most common. Mal Siriwardhane, the founder and CEO of B dynamic, a leader in retail and logistics, provides important tips on how to reduce the likelihood of being scammed online.
Can you spot a scam? Follow the GWS rule: Google, website, social media:
- Before making a purchase, remember to Google the business, check the website’s spelling, and verify the retailer’s social media handles
- Flash sales and “limited-time offers” can be enticing, but they’re also tactics scammers use to rush your decision-making
- Online reviews can be a goldmine of information, but not all are genuine
- Look for reviews on reputable platforms like Google and Trustpilot, and be wary of those with excessive punctuation or emojis
- If anything about the retail site raises red flags, it’s better to miss a deal than to lose your money to scammers
- Unsure about a deal? Consult a friend or family member. A fresh perspective can help identify potential scams you might have overlooked
- If you suspect you’ve been scammed, immediately report it to Scamwatch and contact your bank or financial institution
“With the level of sophistication we are now seeing with scammers these days, you really need to be hyper aware and careful otherwise you will get scammed. The scammers are so good, they can copy mainstream retail websites to the point where you can not tell the difference between the scam site and the real retailer’s site,” B dynamic founder and CEO, Mal Siriwardhane said.
