Australians Lost $1 Million

Australians Lost $1 Million-The people of Australia are falling for traps of fraudsters who are tricking people by saying that they can file their taxes through bitcoin ATMs.

The Australian Taxation Office (ATO)

The Australian Taxation Office (ATO) has warned around 1 Million taxpayers that they have to be careful about such fraudsters.

The assistant commissioner at the ATO, Kath Anderson cautioned that scammers were getting technically more sophisticated. Similarly, they are targeting vulnerable customers and using aggressive techniques to steal their personal data or money.

She further went on to say “November is a prime time for scammers as they know lots of people have tax bills to pay. Be wary if someone contacts you demanding payment of tax debt you didn’t know you owed. Our advice is simple – the ATO will never ask you to make a payment into an ATM or via gift or pre-paid cards. Such as iTunes and Visa cards, or direct credit to be paid to a personal bank account.”

Bitcoin ATM

Australians Lost $1 Million-It all started in July 2018, when 28,000 scams were reported, which accounted for approximately $1 Million. The favorite mode of payment was bitcoin ATMs which led to the scams, according to the ATO. In the current year, Australia has faced scams of Aus $340 Million. Out of which Aus $2.1 Million was because of cryptocurrency scams.

Anderson said: “Since 1 July, we’ve seen almost 6,000 taxpayers give away their personal or financial information to scammers through things like phishing scams. Your identifying information like tax file numbers, bank account numbers or your date of birth are the keys to your identity. Which can be used by scammers to break into your life if they are compromised. Scammers have been known to impersonate tax agents too. It’s recommended that you hang up and call your agent directly on a number you have sourced independently.”

In a report, it was stated that the target population is immigrants. Who did not know how to file taxes according to Australian Laws. Hence, tend to lean towards easy methods of filing taxes.

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