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Keeping your super safe

You’re working hard to build your super savings for your retirement, and protecting your savings is important, so the last thing you’d want is to be the victim of a scam or fraud.

Here is some information to let you know what can happen out there, and how to help protect your super.

Super scams and fraud

Organised crime is a reality, and given the value of Australians super savings, you could be a potential target. Common types of fraud and scams that exist include:

‘Phishing’ – this type of scam may involve emails, phone calls or SMS messages to trick people into providing their personal and/or financial information. For example, they may pose as the ATO, a bank or super fund, asking you to provide secure information or ‘log-in’ to a fake website.

Illegal early release – this type of scam involves a person or company promoting early access to your super (possibly through a self managed superannuation fund), which is illegal (you can’t touch your super until you retire except in very limited circumstance). The promotors may then charge you a substantial fee and/or steal all your super money.

Identity theft – By obtaining your super details, a thief could assume your identity and contact your super fund requesting that your super money be rolled into a fraudulent account.

Protecting your super – tips

As well as being aware of the types of fraud and scams that exist, the following tips can help you keep your super safe:

  • Ensure your postal mailbox is secure to avoid personal mail being stolen
  • Keep your documents and statements from us in a safe place. If you throw them away, you should tear them up or shred them first
  • Monitor your Nationwide Super account regularly. Get into the habit of logging on to online MemberAccess and checking your account at least monthly to ensure there are no unusual transactions
  • Don’t give your personal or financial information to a person, company or website that you don’t know or trust
  • Be wary of any person or company offering to help you access your super before retirement age
  • Don’t open suspicious or unsolicited emails. Just ignore them or delete them
  • Don’t click on any links in, or open files attached to, suspicious emails
  • Keep your MemberAccess password secret
  • Always log out of MemberAccess once you are finished looking at your account and be especially cautious if you are using a shared or public computer.

Report suspicious activity

If you notice any unusual or suspicious activity on your Nationwide Super account or you receive a suspicious phone call or email claiming to be from Nationwide Super which you don’t believe is genuine, please contact us on 1800 025 241 to report it.

You should also report suspected fraud to the Australian Securities and Investments Commission (ASIC) by visiting www.moneysmart.gov.au, calling 1300 300 630, or contact your local police. When reporting any unusual or suspicious activity, or suspected fraud, it is helpful if you can provide any details relating to the incident, e.g. the names of any party involved, times, location, and events associated with the activity or fraud.

More information

For more information about keeping your super safe, see:

ASFA Super Guru
www.superguru.com.au
Super Guru is a resource of the Association of Superannuation Funds of Australia (ASFA). Its aim is to provide superannuation fund members with superannuation-related information and tools.

SCAMwatch
www.scamwatch.gov.au
SCAMwatch is a website run by the Australian Competition and Consumer Commission (ACCC) which aims to help consumers and small business recognise, avoid and report scams. Visit the website to find out more about different types of scams, how to protect yourself, and how to report scams.

MoneySmart
www.moneysmart.gov.au
ASIC’s MoneySmart website has useful information about super scams, how they work and who scammers target.

Protect Your Financial Identity
www.protectfinancialid.org.au

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