Alert Over New TFN Scam

23rd February 2021

The ATO are receiving increasing reports of people losing money to automated phone scams.

The new scam involves a robo-call impersonating the ATO with a pre-recorded message informing a target that their TFN has been suspended following suspected fraudulent activity.

The victim is then persuaded to transfer money from their bank account to a fake ATO holding account to “protect” their funds.

According to the ATO, 638 reports of this scam have been received since the start of the year, with seven victims losing nearly $118,000. Whilst the number of people paying these scammers is low, the large amounts being lost per person is alarming.

Instead of scammers asking for a specific amount of money, they’re requesting victims to transfer every last dollar in their bank account. What’s most malicious is that, these scammers are stealing money under the guide of saving it from other fraudsters trying to access the victims account.

This is a reminder to everyone to keep their guard up when answering any unexpected calls.