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In the wake of global tariff confusion impacting the bottom line of Australian nest eggs, CPA Australia has warned Aussies to watch out for scammers and dodgy advice.
The Trump administration’s global tariff-led trade war has turned global economies on their heads, but locally, it’s had a sharp impact on the retirement savings of many Australians.
And, like many times of upheaval, there are those looking to take advantage of the uncertainty – scammers and other fraudsters happy to profit from the downturn despite the impact on ordinary Australians.
In fact, CPA Australia – Australia’s leading accounting body – has revealed it has already received reports of account holders receiving calls out of the blue offering unsolicited financial advice or some form of “super health check”.
“There’s a high chance you’ll be getting unlicensed financial advice, or these calls could be designed to steal your personal information – or even your superannuation savings,” Richard Webb, CPA Australia’s superannuation lead, said in a statement.
“Do not make any decisions about your superannuation without first talking to a licensed financial adviser or your superannuation fund.”
According to Webb, there are telltale signs that a call may not be coming from a legitimate source.
“If you receive a call, an email or SMS like this, do not click on any links and do not hand over any personal details such as your super account number, passwords or any other information,” Webb said.
David Hollingworth has been writing about technology for over 20 years, and has worked for a range of print and online titles in his career. He is enjoying getting to grips with cyber security, especially when it lets him talk about Lego.
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