The ATO first warned of a phone scam more than 3 months ago, and the losses just keeping coming. Last month alone losses were reported at $830,000, and reports are that the scam is becoming increasingly sophisticated.

We are cautioning all our clients to be extremely vigilant about screening calls that purport to be from the ATO. One tell-tale sign is the caller ID. When the tax office makes a call there won’t be a number show up on the caller ID. So if you see a number then you know it’s not the ATO calling.

Don’t just be cautious about giving out your credit card details. Sharing your tax file number and address enables scam operators to do many things, including create a new bank account using your details.

The ATO is asking people to report any suspicious calls to help them in combating this criminal activity.

Read more in the Sydney Morning Herald

This article is compiled as a helpful guide for your private information and is subject to copyright. We suggest that you do not act solely on the basis of material contained in this article because items are of general nature only and may be liable to misinterpretation in particular circumstances. We recommend that our advice be sought before acting on any of these crucial areas.

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