Aussies have been warned to be alert in the afternoon on Tuesdays, as that’s when scams are most likely to strike. (Source: Getty)
New data has revealed when Australians are most likely to be scammed. Westpac has analysed transaction data points from its customers to discover when these criminals try to pounce on unsuspecting people with their “guards down”.
A poll of more than 6,200 Yahoo Finance readers found 33 per cent have been scammed or were nearly conned out of their money or information in the last 12 months. The Big Four bank’s research has determined Tuesday at 4pm is the most frequent time and day when scams have occurred for Westpac account holders.
“People are multitasking and not paying close attention to the signs that something could be a scam. These scammers are opportunistic and take advantage of people when they can,” Westpac’s head of fraud prevention, Ben Young, said.
“You might receive a suspicious message in the morning, but it’s often in the late afternoon, when your guard is down, that you act on it.
“That’s the window scammers are counting on, and this is why it’s so important for people to stay alert and take a moment to think before clicking links, sharing information or sending money.”
While 4pm on a Tuesday might be the most common time for a scammer’s ploy to strike, Westpac’s data found Thursday was the most frequent day of the week that scams occur.
It also revealed 80 per cent of scam cases occur from lunchtime onwards, and 85 per cent occur during the work week.
Do you have a scam story? Email stew.perrie@yahooinc.com
Remote access scams are the most common type of con job that occurs on Tuesday afternoons, with 29 per cent happening at this time.
This is when a hacker will contact you saying there is an issue with a vital account of yours, like your myGov account, bank account, or even just your computer network.
They will try to convince you that you need to grant them access to your device so they can go in and fix the problem, which they might pretend is a virus.
They might trick you into buying software to allow them to access your computer or phone, but they can also harvest your important personal information or siphon off your money.
The ACCC’s National Anti-Scam Centre discovered victims of this scam lost an average of $17,943 in the first quarter of 2024, which was up 57 per cent from average losses in 2023.
Westpac also discovered that investment scams (20 per cent), and buying and selling scams (13 per cent) were also rife on Tuesday afternoons.
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“These scams are designed to catch people off guard. In particular, remote access scams often involve a sense of urgency or technical confusion, perfectly timed for when people are less focused,” Young said.
“We know scams can have a devastating impact on people’s lives, so we’re constantly monitoring and adapting our protection measures to stay one step ahead and help our customers.
“I would encourage everyone to keep their eyes peeled for scam activity, and if you suspect you’ve been impacted, tell the bank immediately. The earlier we’re notified, the sooner we’re able to try and help.”
If you do receive a call out of the blue, banks like Westpac and Commonwealth Bank have new AI technology that can help detect whether it’s a scam in real-time.
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