Another month, and unfortunately, it’s another bunch of scams on the loose we need to make you aware of.
It’s been brought to our attention there is talk of a “Centrelink cost of living bonus” going around. Some clients have asked about it, and if someone has asked us about it, there could be many others who have seen it and are wondering.
It’s a scam.
It was previously said to finish at the end of October, but the scammers will likely just change the date to continue trapping people. It’s been pushed on social media suggesting people go to a fake myGov website where they can apply.
Firstly, there are no bonuses available to apply for.
Secondly, and more importantly, always remember: the government, and by extension Centrelink, will not make eligible people apply for a one-off bonus cost of living payment. They already have the details of everyone who is currently receiving a support payment, so they would already know who would be eligible for any potential bonus payment. Meaning, any potential bonus payment will automatically be paid to those eligible for it.
This is for basic logistical reasons. Requiring people to apply would cost additional time and money to administer. For many applicants it would be confusing whether they would be eligible or not, and they wouldn’t know where to apply. For others, they would not be aware of it and would miss out. Lastly, more applications open the system to further scams.
In summary, if you hear about any bonus payment, and if it is real, it will automatically appear in your bank account without requiring any action by you.
The reason for these scams is simple: they are after your myGov login details. The reason why they want your myGov login details forms part of the next story.
Unfortunately, we recently learned of a client being scammed via a myGov phishing attempt.
They received an SMS appearing to be from myGov, prompting them to act. They believed it was legitimate, and it included a link to follow. They followed the link, logged into what they thought was myGov, but ultimately didn’t get through the process they were being prompted to complete.
They left it there and didn’t think about it any further. Unfortunately, the scammers already had what they needed, their login details. A couple of weeks later, the client noticed they’d not received their age pension payment.
The client contacted us. We encouraged them to contact Centrelink immediately.
After contacting Centrelink, the client informed us of the following:
Notifying Centrelink immediately was absolutely the best course of action.
Upon investigation, Centrelink identified the scammers had nominated a new bank account via their Centrelink online record.
Age Pension payments were then made to this account instead of the client’s account.
Centrelink also stated that this is happening on a regular basis.
In response, Centrelink locked the Client’s Centrelink Record and myGov account
They now require a new myGov account.
Existing Person Permitted to Enquire arrangements have been cancelled and new arrangements need to be established.
The worst part, a large amount of confidential and private information has been compromised, including investment platform account numbers, account type, and balances that were recorded in their account.
On the positive, Centrelink will be paying the client their missed pension payments in the coming days.
A very clear reminder on following any links directly from the myGov website:
myGov will never ask you through email, text message, or direct message on social media, to: click on a link to sign in to myGov
myGov may send an email or text message to alert you of a message in your myGov account, but there will never be a link for you to follow. You will be expected to make your own way to the myGov website, to ensure you’re not being directed elsewhere via a fraudulent link.
Stay vigilant.
This represents general information only. Before making any financial or investment decisions, we recommend you consult a financial planner to take into account your personal investment objectives, financial situation and individual needs.
