Scams and how to avoid them

HomeInsights

Scams and how to avoid them.


I got a text the other day “Hi Mum, I have broken my phone and I am using this number.” The “Hi Mum” scam has exploded with more than 1,150 Australians falling victim to the ploy in the first seven months of 2022, with total reported losses of $2.6 million.

Once the scammer establishes contact, they start requesting money for an urgent bill or a replacement phone etc. For those with children or dependant family members, it is not that hard to believe. According to the Australian Consumer and Competition Commission (ACCC), two-thirds of family impersonation scams were reported by women over 55 years of age.

Another common scam is the lost or unable to deliver package texts and voicemail. With Christmas just around the corner, we can expect to see another escalation of this scam where tracking links purportedly from Australia Post, Toll, or Amazon etc., are used to instal malware.

Once accessed, the malware will access your contacts and spread the malware and potentially access your personal information and bank details.

In July, the Australian Taxation Office (ATO) reported a new wave of ‘Tax refund SMSF scams’. The texts purported to be from the ATO stating that the individual had a tax refund and to click on the link and complete the form.

Another scam purporting to be from the ATO advised that the recipient was suspected of being involved in cryptocurrency tax evasion and requested that they connect their wallet. At which point the wallet was accessed and any assets stolen.




The ACCC’s Targeting Scams report states that in 2021, nearly $1.8bn in losses were reported but the real figure is likely to be well over $2bn. The largest combined losses in 2021 were:

  • $701 million lost to investment scams with 2021 figures significantly increased by cryptocurrency scams - more scammers are seeking payment with cryptocurrency and losses to this payment method increased 216% to $84 million.
  • $227 million lost to payment redirection scams.
  • $142 million lost to romance scams.


GET IN TOUCH GET IN TOUCH



4 Sep

The Critical-5 Financial Metrics That Drive Business Performance

Lunch & Learn Workshop // 4 September, 2026 - 12:00 - 1:30pm
$35pp includes lunch

Many business owners believe growth comes from more sales. But in reality, the strongest and most profitable businesses grow by improving how the business works, not just by selling more. This session is designed to change that. The 5-Critical Financial Metrics is a practical workshop that shows you where small, targeted changes can create disproportionately big improvements in profit, cashflow and sustainability.


READ MORE READ MORE
26 Jun

Pricing, Profit and Your Ideal Client: Why Being Busy Is Different To Being Profitable

Lunch & Learn Workshop // 26 June, 2026 - 12:00 - 1:30pm
$35pp includes lunch

This session is designed to change that. Pricing, Profit & Your Ideal Client is a practical workshop that helps you understand where your profit really comes from, how pricing decisions affect margins, and why working with clients that align with your business makes a measurable difference to both profit and cashflow. 


READ MORE READ MORE
27 Mar

Cashflow Essentials - Keeping Control of Cash in a Growing Business

Lunch & Learn Workshop // 27 March, 2026 - 12:00 - 1:30pm
$35pp includes lunch

Many business owners are surprised to learn that most businesses don’t fail because they’re unprofitable -  they fail because they run out of cash. This session is designed to change that. Cashflow Essentials is a practical workshop that shows you how cash really moves through your business, why cash pressure happens, and how to stay in control - even while you’re growing.


READ MORE READ MORE
27 Feb

Know Your Numbers - Understanding your Profit & Loss, Balance Sheet and Cash Statements

Lunch & Learn Workshop // 27 Feb, 2026 - 12:00 - 1:30pm
$35pp includes lunch

If you’re like most business owners, you receive financial reports, and you have your accounting software, but you don’t always feel confident interpreting them. This workshop is designed to change that.
Know Your Numbers is a practical, plain-English workshop that teaches you how to properly read and understand your core financial reports - and, more importantly, how they work together to show the real health of your business.


READ MORE READ MORE
18 Dec '25

UNDER THE HOOD: Accessibility and Inclusion with MP Shire Business

Excellence in Inclusivity and Accessibility recognises businesses for their leadership in creating welcoming, inclusive spaces and ensuring accessibility for all. In this episode, the award-winnings share how inclusion isn’t just the right thing to do - it’s a smart business move. 


READ MORE READ MORE
18 Dec '25

UNDER THE HOOD: Connected Communities - The Small Business Advantage

The Local Community Connection Award recognises businesses with a commitment to strengthening the Mornington Peninsula community through networks, partnerships and social contributions. This episode features the award-winners as they share practical strategies, proven approaches, and inspiring stories that show how community connection isn’t just good for people - it’s sound business practice. 


READ MORE READ MORE
15 Dec '25

SKYBOTS: RPA & AI Training Course - Melbourne CBD

LIVE 2-DAY COURSE - MELBOURNE CBD
15 & 16 December 2025

Join SkyBots’ 2-day Workshop with automation expert Daryl Aw to revolutionise your workflow using Power Automate, UiPath, VBA, and cutting-edge AI tools like Copilot and ChatGPT. Tailored for accounting and finance professionals, bookkeepers and small business owners, this hands-on training will teach you to automate repetitive tasks, generate and optimise VBA scripts, and deploy robust automation solutions independently.


READ MORE READ MORE
11 Dec '25

SKYBOTS: RPA & AI Training Course - Sydney CBD

LIVE 2-DAY COURSE - SYDNEY
11 & 12 December 2025

Join SkyBots’ 2-day Workshop with automation expert Daryl Aw to revolutionise your workflow using Power Automate, UiPath, VBA, and cutting-edge AI tools like Copilot and ChatGPT. Tailored for accounting and finance professionals, bookkeepers and small business owners, this hands-on training will teach you to automate repetitive tasks, generate and optimise VBA scripts, and deploy robust automation solutions independently.


READ MORE READ MORE
10 Dec '25

Living Longer: How to future-proof your retirement income

With more Australians living well into their 80s and beyond, managing your longevity risk is more important than ever. Learn how income products like annuities can support your lifestyle for the long haul – no matter how long your retirement lasts.


READ MORE READ MORE
10 Dec '25

Understanding the 3 stages of retirement and what they mean for your money

Retirement isn’t one-size-fits-all. We examine the three stages of retirement – and how each one affects your spending, planning and financial wellbeing.


READ MORE READ MORE
10 Dec '25

SMART Life - Issue 23 - Summer 2026

Understanding the 3 stages of retirement and what they mean for your money, and how to future proof your retirement income.


READ MORE READ MORE
8 Dec '25

SKYBOTS: RPA & AI Training Course - ADELAIDE CBD

LIVE 2-DAY COURSE - ADELAIDE CBD
8 & 9 December 2025

Join SkyBots’ 2-day Workshop with automation expert Daryl Aw to revolutionise your workflow using Power Automate, UiPath, VBA, and cutting-edge AI tools like Copilot and ChatGPT. Tailored for accounting and finance professionals, bookkeepers and small business owners, this hands-on training will teach you to automate repetitive tasks, generate and optimise VBA scripts, and deploy robust automation solutions independently.


READ MORE READ MORE
3 Dec '25

Can I pay out my car loan early; and should I?

In most cases, car loans in Australia can be paid out before the end of the loan term. However, depending on your loan type and lender, early repayment fees may apply.


READ MORE READ MORE
1 Dec '25

Does consolidating debt really save you money?

Debt consolidation involves rolling several existing debts into a new single loan. Instead of managing five different repayments.


READ MORE READ MORE
28 Nov '25

Should you consider principal and interest from day one?

Choosing a principal and interest loan from the outset can lead to long-term savings and financial security.


READ MORE READ MORE
26 Nov '25

Capital city house prices surge at fastest pace in four years

Australia's housing market is heating up with property prices across capital cities rising at their fastest rate in almost four years.


READ MORE READ MORE
26 Nov '25

5 steps to accessing your home’s equity to buy an investment property

This is a great time to explore your mortgage options. You may need to refinance your current loan or take out an investment loan.


READ MORE READ MORE
24 Nov '25

Gold coast unit prices overtake Sydney

Gold Coast unit prices have overtaken Sydney's for the first time, marking a significant milestone for the Queensland coastal market.


READ MORE READ MORE
21 Nov '25

Is equipment finance right for tradesmen and contractors?

Equipment finance makes the most sense when it helps your business grow. If new machinery will increase productivity, open up new contracts, or allow you to expand your services.


READ MORE READ MORE
20 Nov '25

SMART Wins at Mornington Peninsula Shire Awards

SMART Business Solutions is proud to announce its recognition as the winner of Excellence in Local Community Connection (Medium–Large Business) and Excellence in Access and Inclusion at the 2025 Mornington Peninsula Business Excellence Awards.


READ MORE READ MORE
19 Nov '25

5 Mistakes To Avoid When Financing Business Equipment

A good rule of thumb is to match the finance term to the useful life of the asset. This ensures your repayments align with the equipment’s value to your business.


READ MORE READ MORE
19 Nov '25

The Hidden Tax Risks of Using Personal Offset Accounts for Business Funds

It might seem like a clever strategy - moving surplus business cash into your personal mortgage offset account to save on home loan interest, then shifting it back to the company around tax time. But there’s a catch: the ATO sees this, and they’re not fans.


READ MORE READ MORE
17 Nov '25

Foreign investment surges in australian commercial property

Commercial property has rebounded strongly, reaching $15.9 billion year-to-date through the second quarter of 2025.


READ MORE READ MORE
14 Nov '25

Retail emerges as top-performing commercial property sector

Retail has positioned itself as one of the strongest performing sectors in the commercial property market.


READ MORE READ MORE
12 Nov '25

Brisbane commercial property market surges ahead of 2032 Olympics

With $7 billion in Games-related infrastructure investment already underway, demand for office space in engineering, construction and professional services sectors is increasing substantially.


READ MORE READ MORE
11 Nov '25

Why Mental Health and Money Must Be Managed Together

Running a small business has always been personal. Every sale, every setback, every sleepless night - it all comes back to the same person: the owner.


READ MORE READ MORE
11 Nov '25

The State of Small Business in 2025: Pressure, Purpose, and the Path Forward

A staggering 93% of small business owners reported higher costs this year, while 64% saw profits fall. Taxes, wages, and insurance top the list of pressures, with taxes ranked as the number one cost by half of respondents of a recent report.


READ MORE READ MORE
11 Nov '25

Resilience Under Pressure: What the 2025 Small Business Perspectives Report Reveals About Australian Business Owners

Australia’s small business sector has always been defined by its resilience - but the latest Council of Small Business Organisations Australia (COSBOA) and CommBank Small Business Perspectives Report 2025 shows that resilience is being tested like never before.


READ MORE READ MORE
10 Nov '25

7 Steps To Securing A Boat Loan

Online loan calculators can give you a realistic estimate of your potential repayments without affecting your credit score.


READ MORE READ MORE
6 Nov '25

The ATO Is Watching: Why Clean Books & Regular Check-ins Matter More Than Ever

The ATO is tightening the screws. They’ve issued a clear warning to businesses: stop inflating or falsely claiming GST. And they’re not just making noise - thanks to advanced data-matching and technology, they’re more capable than ever of spotting discrepancies.


READ MORE READ MORE


Related News

18 Dec '25

UNDER THE HOOD: Accessibility and Inclusion with MP Shire Business

Excellence in Inclusivity and Accessibility recognises businesses for their leadership in creating welcoming, inclusive spaces and ensuring accessibility for all. In this episode, the award-winnings share how inclusion isn’t just the right thing to do - it’s a smart business move. 


READ MORE READ MORE
18 Dec '25

UNDER THE HOOD: Connected Communities - The Small Business Advantage

The Local Community Connection Award recognises businesses with a commitment to strengthening the Mornington Peninsula community through networks, partnerships and social contributions. This episode features the award-winners as they share practical strategies, proven approaches, and inspiring stories that show how community connection isn’t just good for people - it’s sound business practice. 


READ MORE READ MORE
10 Dec '25

SMART Life - Issue 23 - Summer 2026

Understanding the 3 stages of retirement and what they mean for your money, and how to future proof your retirement income.


READ MORE READ MORE