As Australians prepare for EOFY sales and tax time, NGM Group – the customer-owned bank behind Greater Bank and Newcastle Permanent – is urging people to stay alert as scammers ramp up activity during one of the busiest financial periods of the year.
From fake tax refund texts and impersonation phone calls to scam shopping websites and phishing emails, fraudsters are increasingly targeting Australians who are spending more time online and more time managing their finances.
Jason Veltruski, Fraud Operations Manager at NGM Group, said EOFY creates the perfect environment for scams because people are expecting messages from banks, government agencies, retailers and delivery companies.
“At this time of year, Australians are actively looking for sales, lodging tax returns, checking invoices and responding to more emails and text messages than usual,” Mr Veltruski said.
“That creates an opportunity for scammers to blend in. A fake message about a tax refund, suspicious bank activity or a parcel delivery can easily look legitimate when you’re already expecting similar communications.”
Mr Veltruski said scammers are becoming increasingly sophisticated in how they impersonate trusted organisations, often replicating logos, branding and even phone numbers.
“We’re seeing scam messages and phone calls that look incredibly convincing,” he said. “In some cases, people receive a text that appears in the same message thread as genuine messages from their bank. Others receive phone calls where the caller claims to be from a trusted organisation and pressures them to act immediately.”
“One of the biggest red flags is urgency. Scammers want people to panic, click quickly or hand over information before they’ve had time to stop and think.”
Common scams Australians should watch for this EOFY
Fake ATO scams
Texts, emails or phone calls claiming you’re owed a tax refund or need to urgently pay a debt. Some scams threaten legal action if payment isn’t made immediately.
Bank impersonation scams
Messages claiming there has been suspicious activity on your account and asking you to click a link, transfer money or verify your banking details.
Fake EOFY sales websites
Online stores and social media ads advertising heavily discounted products that either never arrive or are used to steal card details.
Parcel delivery scams
Texts claiming there is an issue with a delivery or a small fee required before a parcel can be released.
Invoice and payment scams
Fraudsters posing as suppliers, tradies or service providers and sending updated bank details for payments.
Mr Veltruski said Australians should avoid interacting directly with unexpected messages or phone calls, even if they appear genuine.
“If you receive an unexpected, suspicious or unsolicited text or email claiming to be from your bank, the ATO or another trusted organisation, don’t click the link,” he said.
“Instead, go directly to the organisation’s official website or app yourself. If you receive a phone call and something doesn’t feel right, hang up and call the official phone number listed on the organisation’s website.”
“That extra step can prevent people from unknowingly handing over passwords, banking details or security codes to scammers.”
NGM Group’s practical tips to stay safe
- Never click links in unexpected text messages or emails claiming to be from your bank, the ATO or delivery companies.
- If you receive a suspicious phone call, hang up and contact the organisation directly using the official phone number from its website.
- Never share passwords, PINs or internet banking security codes with anyone.
- Be cautious of sales or offers that seem unusually cheap or create pressure to act immediately.
- Check website URLs carefully and look for legitimate contact details and reviews before purchasing online.
- Monitor your bank accounts regularly and report suspicious activity immediately.
If you suspect you’ve been targeted by a scam, report it promptly to the ACCC via the Scamwatch website. Additionally, if you’ve made payments to suspicious entities or shared your bank details, contact your bank right away.
“Scammers rely on people being distracted, rushed or caught off-guard,” Mr Veltruski said.
“The best defence is slowing down, independently verifying communications and trusting your instincts if something doesn’t feel right.”
This article is intended to provide general information of an educational nature only. Information in this article is current as at the date of publication.