RACQ Bank reveals top scams in 2024
RACQ Bank has unveiled the key scams members fell victim to in 2024 and how to stay safe online.
Marketplace scams, remote access scams and investment scams were revealed as the most prevalent scams to impact RACQ Bank members in the past year, with investment scams causing the largest financial losses.
According to ScamWatch, Queenslanders were scammed out of more than $51 million across 46,734 reported scams in 2024.
Head of Bank Resilience and Transformation Sarah Richardson said scams are becoming more sophisticated and anyone can fall victim to a scam under the right conditions.
“Scammers often exploit trust and urgency to manipulate individuals into making high-value transfers,” Ms Richardson said.
“We’re urging everyone to remain alert and ‘stop, check and report’ before responding to any message, email or phone call.”
How scammers get in touch
Scammers employed various contact methods known as ‘phishing’, with text, phone calls, popup windows and social media being the most common phishing tactics reported by RACQ Bank members.
“The rise in digital communication and online marketplaces has given scammers more ways to connect with individuals, making vigilance more important than ever,” Ms Richardson said.
“According to our latest survey, one in four Queenslanders have been contacted online by a suspected scammer, yet alarmingly, 86% admit they don’t know where to report such incidents.”
Supporting online safety
RACQ is committed to improving online safety and is supporting the Be Connected program, an Australian Government initiative delivered in partnership by the eSafety Commissioner, the Department of Social Services and Good Things Australia.
“We are thrilled to support the Be Connected program, as it aligns with our mission to protect our members and the broader community,” Ms Richardson said.
The Be Connected website, managed by eSafety, is a one-stop shop with hundreds of free short online courses and learning resources to help improve the online confidence, skills and safety of older Australians.
eSafety Commissioner Julie Inman Grant said RACQ’s announcement came just in time for Safer Internet Day – a global day of action dedicated to raising awareness of online safety issues.
“Safer Internet Day is a powerful reminder of the role we can all play in helping to make the online world a safer, more positive place,” Commissioner Inman Grant said.
“It’s encouraging to see businesses and organisations like RACQ throwing their support behind innovative initiatives like Be Connected, which are designed to foster digital resilience in Australians.
“Particularly as the digital landscape continually evolves, older Australians, who may not feel as comfortable as people who have been online their whole lives, will likely find Be Connected’s vast resources help develop confidence and skills to explore and embrace their online worlds safely.”
RACQ Bank encourages members to access the Be Connected program to remain informed about the latest scams and learn tips to improve online safety.
Visit the Be Connected website for resources and support.
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