Super scam alerts

As one of your biggest investments, super is often a target for scammers. These scammers may pose as Financial Advisers or claim to be from your super fund. Their goal is usually to get their hands on your money or steal your identity. You can find out more about the latest super scams below.

Scam alerts

Investment scam – February 2024

We’re aware of a scam where you may have received encouragement from a representative purporting to be from an investment firm, brokerage company or other third party. These scammers will encourage you to withdraw funds from your AustralianSuper account to your bank account, to then invest the money with them by transfer to their bank account.

They’ll tell you how to answer questions from the bank to alleviate their concerns. As well as encourage you to invest in other investment platforms promising you bigger returns or early access to your superannuation, including, but not limited to crypto investments.

Never give an unsolicited caller information about yourself or access to your computer or device.

If you think you've been scammed, please report it to us by calling us on 1300 300 273. You can also learn other ways to protect yourself by visiting our online security tips.

The ACCC has also released The Little Black Book of Scams at accc.gov.au with detailed information about protecting yourself against scams.


Phone scam – December 2023

We're aware of a scam where you may receive a call with a pre-recorded message asking for you to authorise a transaction to debit a credit card or bank account by pressing a number. Even though the telephone number may look like a legitimate Australian landline, it's not the real phone number where the scammer is calling from. 

Please don’t call this number to see if it's legitimate. 

Never give an unsolicited caller information about yourself or access to your computer or device. AustralianSuper will never call you to authorise a transaction by listening to a pre-recorded voice and pressing buttons on your phone. 

If you think you've been scammed, please report it to us by calling 1300 300 273.  Also, you can learn other ways to protect yourself by visiting our online security tips.  
 

Phone scam – July 2023

There is a current scam involving phone calls from individuals claiming to represent AustralianSuper. They cold-call from a mobile number and say they’re from the ‘AustralianSuper Centre.’

The caller may begin the conversation with recent investment performance and try to educate you about superannuation options. You may be asked for your personal details like your name or email address so they can send you some more information. In some cases, you may be asked to transfer your funds to another super fund. Do not transfer the funds or give any personal information to the caller.

If possible, don’t answer these calls in the first place, but if you have answered it, disconnect the call immediately.

AustralianSuper may on occasion ask for your personal details to administer your account but will never contact you from a mobile phone number. If you think that you have received this type of phone call, please report it to us on 1300 300 273.


Email phish attempt – December 2022

We’re aware of emails circulating that appear to be from AustralianSuper, advising people that their password expires ‘Today’ and requesting the receiver to click on a link to keep their password.

If you have received an unsolicited email and it looks suspicious, please don’t click any links. AustralianSuper will never ask you to confirm, update or disclose personal or banking information via a link in an email or text message or link you to a login page.

If you would like to update your password please log into your account via the Login button at the top of the website and follow the prompts.


Fake uses of AustralianSuper Brand – September 2022

We’re aware of a small number of attempts by scammers to use the AustralianSuper Brand to mislead members and the public.

A recent example was a fake Facebook page using the AustralianSuper Brand logo promising high returns involving cryptocurrency. We’ve reported the matter to Facebook and the website has been taken down.

If you have come across an unsolicited SMS, email or website and it looks suspicious, please don’t click any links. AustralianSuper will never ask you to confirm, update or disclose personal or banking information via a link in an email or text message or link you to a login page.


Cryptocurrency trading scams – August 2021

These scams usually involve offers on highly profitable trading systems based on individual expertise or through algorithms they’ve developed. The scammers may:

  • promise high returns with low risks
  • use fake celebrity endorsements to try and enhance their legitimacy
  • request the transfer of funds into a trading account, either via a crypto wallet or bank account
  • provide small returns sourced from other victims’ initial deposits.

They will then claim problems with making withdrawals and cut off contact.


Self-Managed Super Fund (SMSF) phishing scam – May 2021

These scams usually involve being cold-called or emailed by random individuals or organisations. They'll usually say they’re Financial Advisers or representatives of a SMSF. The scammers may:

  • promise high returns if you move all or some of your super to a SMSF
  • use email, web and company information that looks real
  • register actual businesses and even bank accounts in your name to appear genuine
  • ask you to provide personal information like identity documents to complete the transfer.

They’ll then access your account and transfer your super to their own bank account.


Superannuation early access scam – May 2020

These scams usually involve offers to help you access your super early. The scammers may: 

  • cold call you and offer help to access your super early, or some other benefit, deal or help with your account
  • email or SMS fake vouchers, financial help offers, or information related to COVID-19
  • appear to be from trustworthy organisations. These include your super fund, bank or a government organisation. They could even appear to be from your employer or someone you know
  • ask you to provide personal information such as identity documents.

They’ll then access your account and transfer your super to their own bank account.

Protect yourself from scams

The costs of scams can be devastating. Don’t become a victim, find out how to protect your super and identity.

Protect yourself

Identifying a super scam

Scammers are always finding new ways to target your assets and identity. Approaches may be sloppy with emails containing obvious errors. Or sophisticated, with legitimate business names, perfect spelling, and official looking addresses. They’ll often: 

  • Say they’re from your super fund, bank or a government agency.
  • Ask for personal information.
  • Offer help with withdrawing your super. This might be as one lump sum to an account that doesn’t belong to you, or as a withdrawal to a SMSF

Look out for promises of early access to super and unrealistic investment returns. And, always make sure operators are licensed. You can verify licensed operators on the Australian Security and Investment Commission’s (ASIC) Connect website.       

We’ll never send a SMS or email asking you to click on a link to update your personal information or linking to your account login page.  If you’re unsure about an email you’ve received from us, don’t click any links. Instead, open your web browser and enter our address australiansuper.com.

You can also check with us through mobile chat, social media or by calling 1300 300 273. 

Visit the below links from Scamwatch to find out more about the latest scams and how to spot a scam.

Scam News & Alerts

Spot the scam signs

The impact of scams

Scams can result in severe financial and mental health impacts. If you provide your personal information, you risk losing your super savings. When the funds are gone, they’re almost impossible to get back. Aside from the immediate financial impact, scams can also:

  • leave you with tax penalties for early withdrawals
  • lead to your identity being stolen
  • result in other financial losses.


Reporting scams

Let us know as soon as possible if you:

  • have provided personal information or your super account details to another person, or
  • notice any unusual activity on your super account.

You can keep track of transactions through your online account and the mobile app.

 

If someone attempts to scam you

step 1

Report it to us

Through the mobile app (the fastest option), email or by calling us on 1300 300 273.

step 2

Tell Scamwatch

You can report scam attempts to ASIC’s Scamwatch.

Tell ReportCyber

ReportCyber look into and advise specifically on cybercrime.

1.‘Australians lose over $70 million to bogus investment opportunities’, Australian Competition & Consumer Commission, 24 August 2021, available at https://www.scamwatch.gov.au/news-alerts/australians-lose-over-70-million-to-bogus-investment-opportunities
2. ‘Scam alert: Self-managed super fund rollover’, Australian Securities & Investments Commission, 13 May 2021, available at https://asic.gov.au/about-asic/news-centre/news-items/scam-alert-self-managed-super-fund-rollover/
3. ‘Superannuation early-access scams’, Australian Competition & Consumer Commission, May 2020, available at https://www.accc.gov.au/system/files/20-06FAC_Superannuation%20early-access%20scams_D02.pdf

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