How you can help fight fraud on your super account
Recent reports from the media and the police signal that criminals are deliberately targeting superannuation fund members through illegal early access to super benefits and unauthorised withdrawals from member accounts using identity fraud.
Australian Crime Commission Board warns of Investment Scams - Read media release
Steps you can take to better protect your account against fraud
1. Check your First State Super account online regularly (like you would for your bank accounts).
- Check that all the transactions on your account match what you believe should be occurring
- Check the address and other personal details are correct
2. Check the benefit statements First State Super sends you twice each year.
- Check the benefit statements to make sure they show only the transactions you have authorised on your account.
- Call us on 1300 650 873 if you stop receiving your statement packs
- You can elect to receive your statements online rather than receiving a paper statement via the post. You’ll simply get an email telling you what’s available on the member secure website, and how you can access it. To register for online statements visit the MEMBER ESUPER LOGIN via the button on the homepage.
3. Keep in touch with First State Super – update your personal details so that we can keep sending you regular updates.
4. Keep an eye on your letter box and try to keep it secure. Mail theft is a common starting point for identity fraud. In addition to your super statements think about if any other mail has gone missing.
5. Take extra care with the security of all your financial documents and protect your identifying information like passwords and PINs.
6. Be cautious about giving detailed or identifying information about your super accounts to third parties.
7. Be very wary of offers to release superannuation benefits to you before retirement. These offers could be illegal and you may end up getting cheated and having to pay heavy tax and legal penalties.
And once these scammers have your details they can, and do, use your details again to empty out your super account.
You can read the Australian Securities & Investments Commission’s flyer for information about these illegal schemes
8. Think about how you throw away old benefit statements and other documents that contain your personal details. Shredding documents may prevent a fraudster or scammer accessing information about you from your rubbish bin.
9. If something seems odd report it! If you receive an offer to access your super through an illegal scheme, contact ASIC on 1300 300 630 or the ATO on 13 10 20 to report your concerns. If you think an unauthorised withdrawal from your account has occurred call us on 1300 650 873 as soon as possible.
- As the people at MoneySmart* say “learn to love your paper work” and check your statements
- Stay in regular contact with us and your account
- Keep your letter box secure
- Be wary of people promising early access to your super
* MoneySmart is the consumer and retail investors’ website of the Australian Securities & Investments Commission – visit www.moneysmart.gov.au