New Government move to fight back against financial scammers

The Australian Government has announced an $86.5 million package to combat scams and online fraud, headlined by the establishment of a cutting-edge National Anti-Scams Centre (NASC).¹

The initiative, announced in the May Federal Budget, comes off the back of the Australian Competition and Consumer Commission (ACCC) Targeting Scams report, which revealed scammers reportedly stole more than $3 billion from Australians in 2022, with each victim losing an average of $20,000.

How the National Anti-Scams Centre will work

The ACCC will manage the NASC, which will be the Government’s primary weapon to detect, disrupt and deter scammers and tackle online fraud. The NASC will:

• Use cutting-edge technology to share intelligence across Government and with authorised industry participants to interrupt scams in real time;
• Combine the expertise of Government and the private sector to disrupt scams and;
• Raise consumer awareness on the risk of scams and how to avoid them.

How we keep your super safe

Australian Retirement Trust prioritises the security of your super account. We have taken extra steps to safeguard you from identity theft. Here’s what we do to protect you:

• When you reach out to us, we’ll ask you a few questions to make sure it’s you. We'll contact you immediately if we find any suspicious activity in your account.
• Our letters will never contain any unnecessary personal details.
• We keep a close eye on benefit payments and transfers to detect any fraudulent activity.
• Our staff are trained to recognise any unusual activity that might indicate a security breach.
• We have special security measures to prevent unauthorised access to your account.
• We have strict rules that require you to verify your identity before we provide any information.

Most importantly, we’ll never ask you for your login details. If anyone contacts you and asks for your super account or MyGov login details, do not share them.

Keeping you protected

We care about your super safety and have security measures to protect your account. Together, we can prevent fraud and safeguard your super. Learn about passphrase and password security and how to spot scams. If you have any questions or concerns, you can always contact us.

1. Treasury Media Release, 15 May 2023, Fighting back against scammer scourge, Accessed 19 May 2023