Fraud and scams

Anyone can be the target of a scam, regardless of age, experience, or education level. Some scams, such as investment scams, can be highly sophisticated and convincing, using legitimate-looking websites, fake documentation, and multiple referrals that can mislead even experienced professionals. Superannuation accounts are attractive targets because their account balances can be high. Staying engaged with your super can help you detect warning signs of scams.

Vulnerable people, such as those experiencing financial difficulties, the elderly, or individuals with lower digital or financial literacy are at higher risk of being scammed.  

Common examples include investment scams, early release scams, and impersonation scams. Scams may target particular people, specific times in your life, specific times of the year, high value or vulnerable financial products. You can read about these and other fraud and scam types in more detail on our Fraud and scams page, including: 

• Investment scams 
• Romance scams 
• Early release scams 
• SMSF scams 
• Holiday scams 
• Tax scams 
• Impersonation scams 
• DASP fraud 

• If you or someone else is in immediate danger, call 000. 
• If you suspect you have been scammed or suffered fraud in relation to your Care Super services, you should immediately notify CareSuper. If you suspect suspicious activity in relation to your account, contact us on 1800 005 166 or if you are overseas on +61 3 7042 2723. You can also email us at [email protected]. Always use official communication channels to verify and report concerns. If you have any doubts in relation to a request form CareSuper, contact us to verify the request. We can help secure your account, investigate the matter, and advise on next steps. 
• If you've been the victim of a crime (for example someone has stolen your personal information or money, or tried to extort you) you can make a police report at Report Cyber. 
• You may wish to notify other government agencies about any suspected scams or fraudulent communications to help track and address potential threats.
• If you have fallen victim, please reach out to the appropriate reporting bodies depending on the type of scam:
  • ACCC: If you have been affected by a scam that did not result in a loss or harm to you, may wish to instead inform ScamWatch.
  • ATO: Notify the ATO about the tax-related scams or SMSF schemes to help prevent others from becoming victims.
• Secure your accounts: If your information or devices have been compromised, bad actors may target your other financial services and log ins. 
  • Log out of all of your accounts.   
  • Call us on 1800 005 166 or if you are overseas on +61 3 7042 2723 so we can take action. You can also email us at [email protected].
  • Change your passwords and confirm multi-factor authentication has been enabled for additional security.
  • Check for unauthorised activities in your banks accounts, myGov and superannuation accounts. 
  • Stay alert for any changes or unusual activity. Bad actors might use your personal details immediately, so it's important to check for suspicious transactions, emails, or other communications. This can help you detect if your information is being exploited and in what way.
  • Look out for new products and services that may have been created without your consent. If your identity documents and details have been compromised, bad actors may establish credit and other financial products in your name. If this happens you should directly contact the institution that offers that product or service. 
• Review account activity: Regularly monitor your myGov and CareSuper accounts for suspicious transactions or changes, particularly after potential exposure. 
• Consider obtaining a victims’ certificate: A victims’ certificate may help you demonstrate that a fraud or scam has occurred when dealing with CareSuper, other compannies or government agencies. You can apply for a certificate from the Commonwealth or from some states and territories.
• Learn more: Utilise fraud and scam resources from CareSuper and Government organisations to stay updated on current cyber threats and security practices.  

CareSuper is dedicated to protecting your privacy and security with strict measures to keep you and your information safe. Learn more about What we're doing.  

A scam is an illegal trick. It’s usually an attempt to deceive someone into sending money or sharing personal information. Contact can come through phone, email, websites, messaging apps, or even in person. Scams often involve people impersonating legitimate companies or regulated professionals, such as financial advisors, and rely on pressure tactics, false claims, or misleading information to encourage you to act.  

We’ve outlined specific warning signs under each scam type on this page. However, common scam indicators generally include: 

• Pressure to act quickly or secretly: Scammers often create a sense of urgency or secrecy, insisting that you need to ‘act fast or miss out’ or to keep the contact confidential. This tactic is designed to rush and trick you, making it harder for you to step back, think things through with someone you trust and make an informed choice. Always take a moment to stop and think. If you're unsure, cease all contact and contact us.  
• Unsolicited contact from unknown sources: Be sceptical of out-of-the-blue calls, messages or emails, particularly from people presenting themselves as investment specialists or financial advisors. These contacts often seek to appear legitimate while attempting to extract personal information or upfront payments. Legitimate professionals generally won’t contact you out of the blue, as doing so could breach laws that prohibit unsolicited offers of financial products. 
• Pushy offers to help obtain a self-managed super fund (SMSF): Being urged to open an SMSF solely to make a specific investment or being pressured to establish one quickly should raise concerns. Legitimate financial advisers or product issuers will not contact you unexpectedly to promote or arrange an SMSF, as doing so could breach laws that prohibit unsolicited offers of financial products.
• Promises of unusually high or guaranteed returns: Be cautious if someone offers investment opportunities promising unusually high or guaranteed returns. These claims are designed to lure you into what seems like a golden opportunity that you can't afford to miss. 
• Requests for sensitive information: Sharing personal information, myGov login details, your Tax File Number (TFN) or super fund details, can put your superannuation at risk, and any requests for this information should be scrutinised. 
• Requests to repeat one-time passwords (OTP): CareSuper will send you OTPs in order to establish a second factor of authentication (2FA) when you log in and when you request a high-risk transaction, like a withdrawal. Bad actors may attempt to access your account by tricking you into repeating this code. Never repeat your OTP to anyone, including people who claim to be from CareSuper or other reputable companies.
• Unconventional payment methods: Requests for payments via gift cards or cryptocurrency are clear indicators of fraud. No legitimate organisation will request that you purchase gift cards, regardless of whether it be online or instore, to pay off any debt.
• Very high or unnecessary fees: CareSuper will never charge an administration fee to conduct a transaction like transferring your super between funds, withdrawing your super, or establishing a pension. Fraudsters may attempt to trick you into making unnecessary payments under the guise of fees. CareSuper is aware of fraudsters targeting people who need to request financial hardship or Departing Australia Superannuation (DASP) withdrawals. These schemes involve very high ‘assistance fees’ from people presenting themselves as third party advisers.  

• Unexpected changes to account settings: Discovering changes to your contact information or account settings that you didn't consent to could indicate unauthorised access to your personal information and super account. This could include changes to your investment options.  
• Unauthorised withdrawals or transfers: Spotting transactions or withdrawals from your super fund that you did not authorise is a major red flag that your account may have been compromised.  
• Notification of activity on your account when you did not initiate that activity: CareSuper will contact you by SMS and email, if possible, when transactions like withdrawals and transfers between super funds occurs. If this is not you, contact us immediately. See how will we contact you for more information.
• Data breaches: Data breaches occur when your personally identifiable information is obtained by bad actors. This may enable unauthorised access to your accounts (for example, myGov, super, or bank accounts), leading to potential financial loss or breach of your privacy. If a service you use, like a social media account, telco provider, or employer suffers a data breach, you should consider taking active steps to check, prevent and respond to a compromised account. 

• Call us on 1800 005 166 or if you are overseas on +61 3 7042 2723 so we can take action. You can also email us at [email protected].
• Seek identity protection: Contact IDCare for expert support if you believe your identity has been compromised. They can assist in securing your personal information. Additionally, they offer resources to help enhance your identity protection. 
• Cancel your ID with the issuers. Bad actors can use your driver’s license, passport, medicare card, and other identity documents to imperonsate you to access your accounts or establish new financial products. You should cancel any compromised cards with the agency that issued them to prevent their misuse. This will also allow you to obtain a new card. MyGov has a great list of resources that can help you do this. 
• Check your credit file.  Bad actors may use your details to obtain credit products from other financial services providers. You are entitled to a free credit report every three months. You can obtain one to check if it’s accurate if you have conerns. The report will show you if there are any recent credit checks so you can tell them not to authorise accounts in your name. This is a ‘soft credit check’. Obtaining this kind of credit check will not affect your credit score.  
• If you discover you’ve been affected you may consider putting a ban on your credit history check to prevent any unauthorised activity. During a ban period no-one, including you, can access your credit report to open lines of credit for products like credit cards or loans.

Being proactive and informed can help prevent harm and spot early signs of trouble. CareSuper has prepared a number of articles to help: 

• How you can keep your information safe 
• Phishing, password strength and general cyber security behaviours 
• Preventing and responding to a compromised account