Early super release scams under guise of Govt

WIS women in super sandra buckley ATO australian taxation office ASIC australian securities and investments commission

24 April 2020
| By Jassmyn |
image
image
expand image

Women in Super (WIS) has warned Australians are being targeted by scams relating to the early release of superannuation, for Australians under financial hardship due to the COVID-19 pandemic, and have been sent communications that look to appear from the Government. 

WIS said in a statement that its chief executive, Sandra Buckley, received an email purporting to be from the ‘Services Department of the Australian Government’ and was titled ‘Subsidy Benefit Allocation’. The email requested Buckley provide full identity details including her name, address, and photocopies of documents, and her tax file number (TFN). 

WIS said all contact from the Australian Taxation Office (ATO) would take place through MyGov accounts or by text message notifications to the nominated phone number.  

It noted that the ATO and other Government agencies would never request full identity details or their TFN by emails or by cold callers. 

WIS also said that after the Australian Securities and Investments Commission (ASIC) told real estate agents to refrain from putting pressure on tenants to access their super before requesting a rent reduction, real estate agents were now calling tenants.  

“They ask tenants to confirm that they have applied to access their super before they will consider a rent reduction. Using statements such as ‘accessing super is the Federal Government policy response to the COVID-19 crisis’ are reprehensible in this context,” WIS said. 

“Tenants should not have to defend their super savings. 

“Practices such as the above are despicable as they prey on vulnerable Australians, many of whom will be applying for the early release of their super as a last resort.” 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

3 hours ago

Interesting. Would be good to know the details of the StrategyOne deal....

4 days 8 hours ago

It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...

3 weeks 2 days ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

2 weeks 4 days ago

A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments ...

3 days 6 hours ago

Pinnacle Investment Management has announced it will acquire strategic interests in two international fund managers for $142 million....

2 days 9 hours ago