Sarah Oliver
Melton and Moorabool residents are being urged to protect themselves and their families from financial scams as part of a new Crime Stoppers Victoria campaign.
The ‘Let’s Talk Scams’ campaign launched today as part of national Scams Awareness Week, running from today till Friday, November 12.
The campaign is designed to prevent the public from falling victim to financial scams, also known as investment scams.
These scams promise victims big payouts, fast money or guaranteed returns only to trick them into handing over their money.
Financial scams have cost Australians $114 million just this year of which Victorian losses represent $30 million.
It’s predicted that by the end of 2021, losses to financial scams Australia-wide will have more than doubled last year’s figure.
People aged over 65 are most likely to fall victim to financial scams.
Crime Stoppers Victoria chief executive Stella Smith said: “Scammers will target older people because they are less likely to tell anyone. That’s why talking with your parents and grandparents is an important step in scam prevention.
“We don’t want people to feel embarrassed about being scammed. Talking about scams helps raise awareness among friends and family — it’s about shaming the scammer, not the victim.”
Chinese, Vietnamese, Burmese, and Sri Lankan communities have also been disproportionately affected with scammers going after people whose English is their second language, Crime Stoppers said.
Scammers use a series of methods to target victims, including unsolicited phone calls, text messages, emails and social media messages
Financial scams are often disguised within financial trends like cryptocurrency, celebrity endorsements and superannuation.
Chief Information Officer at BankVic, Scott Wall, said it was important potential investors do their own research and consider seeking professional advice before handing over any money.
“The idea that you can make a lot of money with very little risk seems extremely appealing.
“But people need to remember, if an investment opportunity or offer seems too good to be true, it probably is.”
Crime Stoppers Victoria has teamed up with Victoria Police and BankVic to produce a podcast titled ‘Let’s Talk Scams’ to raise awareness and give information about scams.
Residents are urged to contact their bank immediately and make a report to Scamwatch at scamwatch.gov.au if they have been scammed or suspect they may have been targeted by scammers.
