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Investment scams often promise guaranteed high returns with little or no risk, while newer AI scams can clone voices, messages or videos to impersonate someone you trust. Never share banking details or personal information after unexpected contact. Pause, verify the request using a trusted source, and speak with someone you trust before taking action. If something seems suspicious, report it to Scamwatch and contact your bank immediately.
Online banking, social media and digital communication help many Australians stay connected and maintain independence in everyday life. Unfortunately, scammers are becoming more sophisticated, using convincing investment offers, fake government messages and artificial intelligence to impersonate trusted people and organisations. Understanding how these scams work is an important first step in protecting your financial and personal information.

For all of us, being online is part of everyday life. It helps people stay in touch with family, manage appointments, shop, bank and access important services. As we explored in Staying Safe Online: Cyber Security Tips, digital tools can support independence and connection when used safely.

However, scammers are becoming more sophisticated. Many scams now involve convincing investment offers, urgent messages or impersonation attempts designed to pressure people into sharing money or personal information. 

In recent years, more Australians have reported falling victim to scammers, resulting in billions of dollars in losses, with investment scams accounting for the largest financial losses.

One of the emerging challenges is the popularity and easy access to Artificial Intelligence (AI) tools. While AI offers many positive benefits, these tools can also be misused by scammers to generate realistic emails, fake websites, automated messages and even cloned voices.

The introduction of AI into the mix allows scams to be created quickly and sent to thousands of people at once, dramatically increasing the scale of fraud attempts. Understanding scam tactics is an important step in staying informed and protecting yourself online.

Learn more about emerging online risks in our article "Stay Safe from AI-Driven Scams," which looks at the rise in scam activity during busy shopping periods like Christmas.

If a message, phone call or offer feels rushed, unusual or too good to be true, it is worth slowing down and checking it carefully. 

In our earlier article, Staying Safe Online: Cyber Security Tips, we shared simple habits to improve online safety. This follow-up article looks more closely at the growing risks of financial fraud, including investment scams and newer AI-enabled scams that can appear very convincing.

Scammers rely on pressure, urgency and confusion. 

Taking a moment to pause can help protect your money, identity and peace of mind.

Why are online scams becoming harder to spot?

Scammers no longer rely only on poorly written emails or obvious fake websites. 

Many scams now look polished and professional. Some imitate banks, government agencies, delivery companies or even family members or trusted companies. Others use AI to create realistic messages, cloned voices or fake images designed to build trust quickly.

This can be especially distressing for people who are already managing health concerns, caring responsibilities or complex support needs. Families may also worry about how to help loved ones stay safe without taking away their independence. The good news is that awareness and a few simple checks can go a long way.

Do you struggle with Technology?
Our article, Tech Tips for Seniors, shares simple ways to build confidence with devices, passwords, and safe online habits.

What are the most common financial scams to watch for?

Investment scams

Investment scams often begin with an attractive promise of high returns, low risk and a limited-time opportunity. You might be contacted by phone, email, text message, social media or through an online advertisement. The person may claim to represent a legitimate investment platform, a cryptocurrency opportunity, or a financial expert.

These scams are designed to create excitement and urgency. You may be told to act quickly, keep the opportunity confidential, or transfer money immediately to avoid missing out. Professional-looking websites, fake testimonials and convincing documents can make these offers appear genuine.

Warning signs of an investment scam:

  • Guaranteed returns or claims of “low risk, high reward”
  • Pressure to act quickly or send money straight away
  • Requests to move money to a new account or platform
  • Unsolicited contact from someone you do not know
  • Difficulty verifying the business independently

Phishing scams

Phishing scams are also common. These occur when scammers impersonate a trusted organisation, such as a bank, myGov, Centrelink, Medicare, or Australia Post. 

Their goal is usually to get you to click a link, download a file, or enter passwords, card details or other personal information.

Romance and relationship scams

Romance and relationship scams can also lead to serious financial loss. In these scams, someone builds trust over time through messages or online conversations before eventually asking for money, gifts or help with an emergency. 

Because these situations can feel very personal, it can be difficult to recognise the warning signs. Speaking with a trusted family member, friend, or support person can help if something does not feel right.

How do AI scams work?

AI-enabled scams can be particularly alarming because they may appear more realistic than older scam tactics. Scammers can use AI tools to write persuasive messages, imitate the tone of a trusted organisation, or create fake audio that sounds like a loved one in distress.

Example of a common scam

You receive a message or call from someone claiming to be a family member who urgently needs money. Pause and verify first. Contact the person using a phone number you already know, or check with another trusted family member before taking any action.

Our Advice: Pause and verify

If a message or call creates panic, do not respond straight away. 

Contact the person or organisation using a phone number or a website that lists a local phone number.

The aim is always the same: to make the situation feel urgent enough that you respond before checking the facts. 

That is why it helps to have a simple rule for yourself and your family: 

Never act on unexpected financial requests without independently verifying them first.

While scam patterns often change over time, the core advice remains the same: slow down, check the source and speak to someone you trust before taking action.

Watch: How to Recognise and Avoid Online Scams

This short video from Moneysmart.gov.au explains how scammers operate, the warning signs to look for, and simple steps you can take to protect your money and personal information. Taking a few minutes to watch this video may help you better understand these risks and help you and your family stay safer online.

Simple ways to protect yourself and your family from financial scams

1. Stop before you click or reply.
If contact is unexpected, urgent or emotional, take a moment. 
Scammers want people to react quickly.

2. Verify using your own contact details.
Do not use the phone number, email or link included in the message. 
Look up the official contact details yourself.

3. Never share passwords or banking codes.
Banks, government agencies and trusted providers will not ask you to share passwords, one-time codes or full card details by email or text.

4. Be careful with investment opportunities.
Do not transfer money to an account or purchase gift cards in lieu of cash based only on a phone call, ad or unsolicited message.

5. Talk to someone you trust.
A family member, friend, carer or supporter may notice warning signs that are easy to miss when a message gets your emotions reeling and feels urgent.

6. Keep devices updated.
Regular updates (checking your apps are all up to date and downloading operating system updates) can improve security and reduce the risk of malicious software or device compromise.

7. Use strong passwords and extra security where possible.
A strong password helps protect your online accounts from being accessed by someone else. Always avoid simple passwords such as your name, birthday, “123456” or “password”. 

Instead, use a longer passphrase that is easy for you to remember but hard for others to guess. 

Password tips: A short phrase made of a few unrelated words can be easier to remember and harder for scammers to guess. For example: BlueChairRiverBook. 

Avoid using the same password for multiple accounts, especially for important services like email or online banking.

You may also see an option called "two-factor authentication" or "Multi-Factor Authentication (MFA)" when signing in to an account. 

This adds an extra layer of protection. After entering your password, the authentication service may send a one-time code to your phone or email, or ask you to confirm the login in an app. This added layer of protection means that even if someone discovers your password, they cannot access your account without it. 

Security tip: When available, turning on Multi-Factor Authentication (MFA) for all your important accounts, such as online banking, email, and government services, can greatly improve your online security. Many reputable websites that store personal or financial information now require this extra step to help keep data safe.

What to do if something doesn't feel right?

  • Stop contact immediately. If you think you may be dealing with a scam, stop replying to messages, emails or phone calls.

  • Do not click links or send money. Avoid clicking any more links, downloading files, sending payments or sharing additional information.

  • Contact your bank straight away. If you have shared financial details or transferred money, call your bank as soon as possible.

  • Secure your accounts. Change passwords for important accounts such as email, banking and online services.

  • Tell someone you trust. Let a family member, friend or support person know what has happened so they can help you take the next steps.

Many people feel embarrassed after a scam attempt, but scams are designed to be persuasive. Speaking up early may help reduce the impact and protect others as well.

Privacy matters: Protecting personal information is an important part of feeling safe and respected. Learn more in our article The Importance of Confidentiality in Support Work.

Where to find trusted information?

For current scam alerts, reporting options and practical guidance, use official Australian government sources:

  • Scamwatch – current scam warnings, examples and reporting information
  • Cyber.gov.au – practical cyber security advice for individuals and families
  • Moneysmart – guidance on financial fraud and investment scams
  • Services Australia – advice about scams and identity theft involving government services

Staying safe while staying independent

Being cautious online does not mean avoiding technology altogether. When used with awareness and simple safety habits, the internet can support connection with others, everyday convenience and greater independence. Understanding how to stay safe online and recognising common risks helps people enjoy these benefits with confidence.

At Just Better Care, we recognise that feeling safe at home also includes feeling safe online.

Whether you are an older Australian, a person living with disability, or a family member supporting someone with technology, understanding common scams and simple safety steps can help protect your finances, personal information and peace of mind.

Need support to stay safe, independent and connected at home?

Answer a few simple questions to be connected with your local Just Better Care team to discuss the support options available.

 Get started with Just Better Care 

Or when the time is right, you can find your nearest Just Better Care office to speak with a local team member.

Frequently Asked Questions

How can I tell if something might be a scam?

Scams often create a sense of urgency, secrecy or pressure. Be cautious of unexpected messages, phone calls or online offers asking for money, passwords or personal details. If something feels unusual, pause and check it carefully before responding.

What should I do if I receive a suspicious message or call?

Stop and verify it independently. Do not click links, download attachments or send money. Contact the person or organisation using the contact details you have found. For more online safety advice, read our article Staying Safe Online: Cyber Security Tips.

What is an AI scam?

An AI scam is when artificial intelligence is used to create convincing fake messages, websites, images or even cloned voices. These scams can make it appear or sound as if the message is coming from someone you trust. You can learn more in our article Stay Safe from AI-Driven Scams.

What are investment scams?

Investment scams usually promise high returns with little or no risk. They may involve fake trading platforms, cryptocurrency offers or urgent requests to transfer money quickly. Always be cautious of offers that seem too good to be true and never feel pressured to act on the spot.

How can I protect my online accounts?

Use strong passwords or passphrases, avoid reusing the same password across accounts, and enable multi-factor authentication where available. If you would like more confidence using devices and online services, see our article Tech Tips for Seniors.

What should I do if I think I have been scammed?

Stop all contact straight away. Do not click any more links, send more money or share more information. Contact your bank immediately if financial details may have been shared, change passwords on important accounts, and let a trusted family member, friend or support person know what has happened.

Where can I report a scam or get trusted advice?

You can report scams and find current warnings through Scamwatch. You can also find practical guidance at Cyber.gov.au, financial scam advice at Moneysmart, and government service scam information at Services Australia.

Why does protecting personal information matter so much?

Protecting personal information is an important part of staying safe, respected and in control. To read more, visit our article The Importance of Confidentiality in Support Work.

Where can I go if I need support at home?

If you or someone you care about would like to explore aged care or disability support, you can get started with Just Better Care by answering a few simple questions, or find your nearest Just Better Care office to connect with your local team.

Related resources and helpful links

If you would like to learn more about online safety, scams and protecting personal information, the following articles and resources may help. 

Remember, if something online does not feel right, pause before taking action, verify the request and talk to someone you trust before sharing personal or financial information.