Are you being scammed?

Buying or selling property involves a certain degree of trust. You need to trust that the buyer is who they say they are, and that the seller is legitimate. You need to trust that the conveyancer is qualified, and that the agent has done their best to get you the best possible price.  

(Of course we always recommend getting a property inspection. Make sure you're getting what you pay for.)

However we live in a world of people out there ready to separate you from your money, and that's what we're going to be talking about today.

Not Everyone Is The Real Deal

South Australian Police are ringing the alarm bells on scammers defrauding people by posing as conveyancers and real estate agents. 

These scammers use fake email addresses to pose as legitimate agents. They will send you an email that will explain that some banking details have changed, and that all future payments or deposits need to be made into the new account. 

Once you've made a payment into the scammers account, they'll quickly move it into another account where it becomes untraceable.

In one instance, police have warned, a victim had deposited a significant amount of money into a scammers bank account.

By the time the victim realised something was wrong, the money had disappeared.

So what can you do to protect yourself from these scams?

First of all, you need to be vigilant. 

Whenever someone emails you to say they have changed or updated their banking details it's best to give your known contact person a call and confirm it. 

Always use the number provided on their website or business card to do so, some scammers may use fake numbers or explain that they aren't contactable by phone to trick you.

It's possible they may have obtained the details of a legitimate contact to scam you. Again it is always better to double check by calling the agency in question. 

Always double check. Don't start paying into an account because an email looks legitimate, or a known contact has asked you to.

What you should do if you're a target of this scam.

If you've been targeted by this - or any other scam - you should immediately report it. 

You can do this by going to http://www.acorn.gov.au. That's the Australian Cybercrime Online Reporting Network (ACORN), where you can lodge and detail the attempted scam. Certain reports are forwarded onto law enforcement to investigate. 

You can get more information on scams by going to www.scamwatch.com.au 

Have Confidence

At Rosie and Rosie we want you to invest with confidence. So read through our blogs, listen to our podcast and get in touch so we can help you make informed, smart investment decisions.

This month we're going to be publishing a few articles on different scams and what to do about them, so keep an eye out as we help you invest with confidence.