Scammers often exploit busy periods like the end of financial year (EOFY), using sophisticated tactics to trick shoppers and steal their money.
While June is a great time for bargain hunters to take advantage of mid-year sales, it’s essential to stay vigilant and shop only with trusted retailers.
Take note of these tips from COBA’s Financial Crimes and Cyber Resilience team to protect yourself this EOFY.
How EOFY sale scams work
Scammers create fake websites that mimic legitimate retailers – sometimes even sitting under real sites – making them difficult to identify. These sites may use authentic-looking logos, ABNs, and branding to appear convincing.
If a deal seems too good to be true, it probably is. Always verify a site’s legitimacy before making a purchase.
How to spot and avoid EOFY sale scams
Here are the top tips to protect yourself when shopping online during EOFY:
- Do your research: Look closely at the website URL for unusual spellings or formatting. Check for essential site details like contact info, terms and conditions, and privacy policies -fake sites often lack these.
- Check the domain registry: For Australian websites ending in .com.au, use the Australian Domain Authority’s registry to confirm which company or trademark owns the domain.
- Avoid clicking on links: Don’t follow links in emails or social media posts – these may lead to fake sites. Instead, navigate directly to the retailer’s official website.
- Use secure payment methods: Only pay via secure services such as credit cards or PayPal, which offer fraud protection.
What to do if you suspect a scam
If you believe you’ve spotted a scam, it’s vital to report it to protect yourself and others from falling victim. Report it to Scamwatch and ReportCyber.
If you have been scammed, report the scam via the above channels and contact your bank or card provider immediately to stop further transactions and explore recovery options.