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ASIC Cautions People of Scams Masquerading as ATO and ASIC

The Australian Securities and Investments Commission (ASIC) is cautioning everyone not to respond to an e-mail that asserts it is from Chairman Barbara DuFrene of the ATO (Australian Taxation Office) and ASIC. 4-traders.com published this dated September 17, 2012.

It maybe noted that ASIC implements laws related to financial and company provisions for safeguarding investors and consumers within Australia.

Reportedly, the electronic mail that tells receivers that a tax re-imbursement is awaiting them which can be obtained via a click on one given web-link, in reality, is a fake.

Also, alongside this fake e-mail campaign, people are getting telephone calls apparently from ASIC as they've been reporting to the Commission. The calls link up with an automated facility that asks for fees for ASIC. In any case, these calls do neither come from ASIC nor does the Commission resort to automated payment collection systems.

Remarking about the aforementioned frauds, Peter Kell Commissioner for ASIC stated that the fraudsters would make just about any story for enticing people to give away their money for things like fees, compensations, overpaid taxes, bank fees, fines alternatively reimbursements. 4-traders.com published this.

Kell explained that scams could appear extremely persuasive and occasionally mention the potential victim's address, birth date, phone number and/or other personal information for sounding authentic. They could even make utterly attractive offers; however, one mustn't become enticed with the fake pledges. Recipients required protecting themselves via doing some fundamental checks prior to answering a phone call or e-mail from nowhere, the Commissioner added. Wealthpreofessional.com.au published this dated September 18, 2012.

Characteristically, scams become successful with the perpetrators posing as a representative of one trustworthy organization followed with telling the victim he's entitled for 'reclaim money' for which he should make an upfront cash payment for meeting the 'administration fees' that should get wired through one specific money transfer facility. Often there are solicitations for victims' financial or other personal particulars too.

Consequently, clients require being told for erasing suspicious e-mails as well as disconnecting similar telephone calls. Besides, they require being advised not to reveal financial information or wire any money to strangers.

Related article: ACMA Unleashes SpamMATTERS - the New anti-spam Button

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