RM500,000 Gone: Lecturer Duped by Online Investment Scam
A 39-year-old lecturer in Kuantan has been defrauded of RM493,600 in a sophisticated online investment scam
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Abstract:Australians warned of rising $2,100 Centrelink scams. Fake promises target seniors and low-income families. Learn how to spot and avoid these scams today.

Australians are being warned to exercise caution as false claims about Centrelink benefits flood the internet. According to data from the Australian Competition and Consumer Commission (ACCC), scams involving bogus Centrelink payments have increased by 25% in the previous year. These fraudulent scams target vulnerable people, particularly seniors and low-income families, and promise life-changing sums like $2,100 to help with the rising cost of living.
According to recent statistics, over 10,000 Australians have already fallen victim, losing more than $4 million in total.
Several deceptive websites fraudulently advertise that Australians are eligible for life-changing Centrelink benefits. Many of these sites appear to be hosted outside of Australia and use names that are similar to legitimate government services like Centrelink, myGov, and the Australian Taxation Office (ATO).
The National Anti-Scam Centre warns that these frauds are growing increasingly complex. Scammers sometimes imitate reputable organizations, businesses, or even acquaintances in order to get personal information or money.
These bogus websites make a number of misleading claims, including
These claims are completely bogus and are intended to mislead vulnerable people into submitting personal information or paying money to criminals.

Here are some significant symptoms of a Centrelink scam:
Scammers use a variety of tricks to deceive their targets, including:
As frauds targeting Centrelink benefits become more prevalent, it is critical to remain watchful and careful. Always check the veracity of any payment offer, especially if it promises a substantial quantity of money. Centrelink and other genuine government agencies will never request that you make a rapid judgment or disclose personal information on dubious websites. If you feel you've been the victim of a scam, contact the Australian Cyber Security Centre (ACSC) or Scamwatch right away.
By remaining aware and careful, you may protect yourself and your personal information against scammers.

Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

A 39-year-old lecturer in Kuantan has been defrauded of RM493,600 in a sophisticated online investment scam

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