Author: DO NOT DELETE OR CHANGE

As banking moves increasingly online, it’s important to stay vigilant in protecting your digital accounts and personal information. Here are some scams to watch out for:

Hi Mum scams

Scamwatch is urging the public to be wary of phone messages from a family member or friend claiming they need help, following a significant rise in “Hi Mum” scams in recent months. Victims are contacted – most often through WhatsApp – by a scammer posing as a family member or friend.

More than 1000 Australians fell victim to the so-called “Hi Mum” scam in the first seven months of this year, with total reported losses of $2.6 million. The vast majority of these scams were reported in June and July 2022.

Investment scams

In the past year, scammers have become far more sophisticated in the tactics they use, with more than $700m lost to investment scams in 2021, data from the ACCC shows.

Scamwatch statistics showing more than $35 million lost to phony cryptocurrency schemes last year, demonstrating the need to double check unregulated investments like crypto are genuine.

Ways to avoid being scammed

• Build a network of reputable sources – including your bank, the ACCC’s Scamwatch, ASIC, your super fund, and your financial adviser, if you have one. Use these sources to check whether opportunities are legitimate.
• Watch for imposters – scammers sometimes try to impersonate reputable sources so look closely at the URL of messages, don’t click links on emails or messages unless you’re certain who it is from, and don’t be afraid to make a phone call to confirm a message is from an authentic source.
• Beware of social media – if you’re using it for financial advice or investment tips, get a second opinion from a trusted source like your bank, ASIC or the ACCC.
• Use extra caution with unregulated investments – when a market isn’t regulated (like cryptocurrency), it can be easier for fraudsters to imitate real investment opportunities.
• Use the “is it too good to be true?” test – is someone is promising a huge return for little risk? It can pay to use extra caution in these instances. If it sounds too good to be true, it usually is.

Identity theft

This year we’ve seen multiple major Australian companies taken down by cyber-attacks, and one way or another you’ve probably been caught up in the fall out. Some steps you can take to protect your personal information include:

• Secure your devices and monitor for unusual activity
• Change your online account passwords and enable multi factor authentication for banking
• Check your accounts for unusual activity such as items you haven’t purchased
• Place limits on your accounts or ask you bank how you can secure your money
• If you suspect fraud, you can request a ban on your credit report.

More information about how to protect yourself is available on the OAIC website.

If you are concerned that your identity has been compromised or you have been a victim of a scam, contact us immediately along with IDCARE on 1800 595 160. IDCARE is Australia’s national identity and cyber support service, to get expert advice from a specialist identity and cyber security service.

You can also report scams to Scamwatch www.scamwatch.gov.au and check cyber.gov.au for more information about cyber security.

So, it is important to identify the vulnerabilities that might mean the holiday period may not be a countdown to a celebration, but could be 25 days of awareness, reflection, preparation and selfcare.

DAY 1 – Family dynamics. The holiday period is often considered a time when families unite for barbeques and games of backyard cricket. Families are complex and complicated. Uniting of the family can mean competing personalities and opinions and can highlight absences or remind us of divide. Be aware of these complexities and manage your expectations going into family events.

DAY 2 – Holiday celebrations can often remind us of the loss of loved ones. It can be hard to find joy and celebration when you are grieving the loss of a loved one, or the memories of holidays past might bring sadness. Don’t push these feelings away, be with them, and be kind to yourself. Honour memories, reflect on joyful memories past.

DAY 3 – Mental health conditions don’t take holidays. In fact, mental health can be challenged by the holiday period. Increase in noisy environments, large group gatherings, less down time or alone time. Be aware of your mental health vulnerabilities and prioritise your mental health.

DAY 4 For those who live away, or find themselves away from family and friends or do not have family, friends to connect with during the holiday period. This can heighten feelings of isolation and loneliness. Try and engage in community-based celebrations.

DAY 5 – In the aftermath of covid, and in the face of growing interest rates many people find themselves facing this holiday season with substantial financial stress and hardship. This can add extra pressure leading up to what is already a very expensive time. Set yourself a budget to manage the expenses associated with the holiday period.

DAY 6 – In a world that is surrounded by so many forms of social media, it is inevitable that people will draw comparisons between their real and messy everyday lives and the constant stream of glamourous Christmas parties, extravagant presents, perfectly dressed children, perfectly wrapped presents and luxury holidays that bombard their feeds. Remind yourself that these images represent a second in time, they cannot and do not show the reality, complexity, unpredictability, emotion or struggle of the other 23 hours, fifty-nine minutes and fifty-nine seconds of that person’s day.

DAY 7 – The holiday period can signal a time of excess for many people, and provide the perfect excuse to justify their indulgences. Excessive food, alcohol and gifts become the focus of the holiday period. The holiday period is no different from any other time and moderation is always key.

DAY 8 – The gift of giving seems to have been lost in recent years. The fear of buying an inadequate or unwanted gift is rectified by grabbing a hand full of gift vouchers from Westfield and allowing the recipient to shop for their perfect gift themselves. The power of giving, and the perfect gift can be found in the thought, the reflection of a conversation and the relationship with the recipient and the joy of knowing your words are heard.

DAY 9 – There are many ways to give. One way is to use this holiday to give your time making the holiday period one of joy for others. Volunteering your time to give to Communities or people less fortunate. Spend time at Wesley Mission, preparing lunch for the homeless, or if it isn’t time you can give, organise some donated gifts and take them to your local Children’s Hospital for those spending the holiday period in hospital.

DAY 10 – We can get so caught up in the things at Christmas, we forget about the people. Use the opportunity to reach out to others who are find themselves alone and offer them a seat at your holiday table.

DAY 11 – If you don’t have the time or money to support others, there is still a great way to give to those less fortunate. Ask for a charity donation instead of a gift this year. The gift that keeps on giving

DAY 12 – Contemplate the difference between loneliness and being alone. During this holiday period we may be surrounded by people but still feel incredible loneliness.

DAY 13 – In thinking about what gift to give others, think about what you could gift yourself during the holiday season. Consider your personal needs and ensure they are balanced with those of others.

DAY 14 – Holidays do not equal automatic happiness, nor should they. Allow whatever emotions that come up for you to be present.

DAY 15 – Time out, down time, you time, alone time. Take it when you need it.

DAY 16 – When you are sweating the small stuff. Comparisons might help. When you are focused on insisting the prawns are served on ice, or that all the glassware matches, use the opportunity to compare your holiday worries to those who are homeless, or those who are fighting a war.

DAY 17 – Quality not quantity. It has almost become a sport, the night before Christmas semi-final of whose kid’s present pile is bigger and the grand final, who got the most expensive present battle between teenage friends. Try this as an alternative, buy your child 4 small things   – something to read, something they need, something they want and something to wear.

DAY 18 – There is no time like the present (the pun is intentional). Use this time to mend or heal broken or strained relationships.

DAY 19 – Find the silver lining, every cloud has one and with all this rain, there are plenty to be found.

DAY 20 – Gratitude. We can get caught up on the holiday stress. In the lead up to the holidays use each day to practice gratitude. Use these prompts to get you started.

My favourite song

Something I find comfort in

My favourite thing in nature

DAY 21 – Create traditions. This is a great time of year to create traditions, A night before Christmas movie. Carols in the Domain and a walk around the harbour, Christmas morning with the neighbours. Find a new tradition this year.

DAY 22 – Get involved in the community holiday spirit. Visit local streets that have Christmas lights displayed, go the local Christmas carols, see Santa at your local shops.

DAY 23 – Make gifts that also second as a great family activity. Craft a gift, bake cookies, or craft a cookie box for the baked cookies and gift both.

DAY 24 – Set realistic expectations for the holiday period. Ever expected to wake up on Christmas morning in a perfectly matching pyjamas and have children wake you up after a fully rested 10-hour sleep, have a freshly brewed coffee waiting downstairs and the perfect present you always wanted and didn’t even have to hint for? Be realistic that Christmas Day is like any other day, only more pressure.

DAY 25 – What is the real meaning of the holiday period? This answer will be different depending on who is reading this. Make sure at its core, that the holidays encompass the true value to you.