The email claims that recipients are entitled to a significant compensation payment. This email is a scam, and ASIC urges anyone who receives it or something similar to delete the email.

If you think you or a client has been a victim of this scam or believes an account may have been compromised, you should contact your credit union, building society or bank immediately.

ASIC Commissioner, Peter Kell, said, ‘Scams aim to trick you into providing payments in advance or your personal details. Scammers may use fake websites, links or logos as well as the names of real businesses. They may even pretend to be from a government agency or financial institution to appear genuine.

Consumers are encouraged to conduct some basic checks before acting on an email or phone call out of the blue’. 

Warning signs

• You receive a surprise call or email claiming you are entitled to a compensation payment or funds recovered from an earlier scam
• The caller or sender pretends to be from a real business, government agency or financial organisation
• In order to receive the funds, you are required to pay a fee in advance to cover costs such as ‘administration’ fees, ‘bonds or security deposits’ or ‘outstanding taxes’
• The scammer will request payment via a money transfer service or your personal or banking information.

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