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Have you ever received a text about a delivery you never ordered? Or maybe you got an email with an investment offer that was too good to be true? Most of us have seen at least one type of scam in our lives. And with how convincing they’ve become over the years, it can be easy to fall for them. In fact, over 108,000 everyday Aussies lost around $174 million to scams in the first half of 2025.1 

In a nutshell, a scam is when a criminal tries to trick you into handing over personal or sensitive information (or both) to steal your money. There are many types of scams, like phishing (a scammer tries deceiving you to get personal information) or investment scams (a scammer promises big returns but tries to take your money). A scammer might contact you in different ways, like calling, texting or emailing, to try and target you.  

Your super is one of the biggest assets that you might have, and cyber criminals are looking for new ways to try and get their hands on it. Scary, yes, but the good news is that spotting a scam isn’t as hard as it sounds. Once you know the warning signs, you can feel more confident about protecting your money, and your personal information.
 

What are the top five scams people over 55s experience? 

According to Scamwatch,2 the top five scams affecting people 55 years and older in the first half of 2025 are: 

  1. Investment scams, which is when a scammer promises big returns with the goal to steal your money. 
  2. Phishing scams, which is when a scammer tries to trick you into sharing personal or financial information. 
  3. Romance scams, which is when a scammer uses romance or friendship to gain your trust and money. 
  4. IT support scams, which is when a scammer contacts you and pretends to be an IT expert to gain access to your devices and steal personal information. 
  5. Rebate scams, which is when a scammer impersonates a bank or government agency with the promise of a rebate, but they are after your personal or financial information. 


What is a superannuation or investment scam? 

Some scams target super specifically. For example, you might be contacted by someone offering to ‘help’ you access your money early. Or they might offer to roll over your balance into a new fund with high, guaranteed returns. Others may promote alternative investments, such as crypto or overseas property schemes, with the claim that you can use your super to make a quick profit.3 

These scammers often use official-sounding language in their communication. Some might even copy real logos or website layouts. That’s why it’s so important to check directly with your fund before you act – a quick phone call can save years of stress. 


What tricks do scammers use?

Scammers have many tricks up their sleeves. But there are a few telltale signs that the person contacting you might be a scammer: 
 

  • There’s a sense of urgency and they pressure you to act without giving you time to think. 
  • They contact you unexpectedly and the same scammer might contact you repeatedly. 
  • They ask for personal or sensitive information, like your super or bank account details. 
  • They offer you something that’s too good to be true or push you to move your money quickly before you ‘miss out’. 
  • They use an unusual email that doesn't match the organisation they're pretending to be. 
  • They send you an unusual link or an attachment in an email or text and encourage you to open it. 
  • They send a message or email that sounds different from other communication you received from the company they're impersonating. 

Remember: State Super or Aware Super will never ask you for your membership or personal details, your password, PIN, date of birth, address and phone number via text or email. If someone does, that’s a clear sign it’s not legitimate.

Everyday habits that can help keep you safe 

There are three simple steps you can follow to protect your super from scammers and have a safe and happy retirement: 

  1. Stop: Don’t give money or personal information to anyone if you’re unsure about a request. You should never feel pressured to do something on the spot. Any legitimate organisation will move at your pace, not theirs. 
  2. Think: Take a moment to ask yourself, ‘Who’s really there?’. If you can, verify the number, email, or website independently, like through your fund’s app. Or consider calling back the company to verify the request with a number you already know is safe. 
  3. Protect: Act quickly if something feels wrong and report the matter to your super fund or financial institution. If you think you may have been the victim of a fraud or scam and you’re concerned about your account security, your fund should be able to help. Be sure to log onto your account and check your details remain the same on a regular basis to protect yourself. 

     

What can you do if you’ve experienced a scam? 

If you’ve experienced a scam, it’s important to remember that you aren’t alone. Even the most cautious person can fall for one. If you think you’ve experienced a scam relating to your super or finances, you can: 

  • Call State Super or your bank so they can secure your account. 
  • Report the scam to Scamwatch to help prevent others being affected. 
     

The faster you act and report your suspicions, the stronger your chance of limiting the impact. 
 

If you need additional support

There are options available if you need extra support:
 

  • You can stay updated with current scams at scamwatch.gov.au.
  • If you’re worried about your SASS account, call State Super Customer Service on 1300 130 095. 
  • You can contact IDCARE if you need support with identify theft.
  • You can contact Beyond Blue or Lifeline if you need support for your mental health.

Where to next?

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When can I withdraw my SASS benefit and what can I do with it?

A simple guide to your SASS statement

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1 https://www.accc.gov.au/media-release/national-anti-scam-centre-calls-for-continued-action-this-scams-awareness-week-as-scam-losses-trend-up-at-174M  

2 Scam Statistics (Jan–June 2025), Scamwatch, 2025

3 Past performance is not an indicator of future performance.

The information contained in this article is given in good faith and has been derived from sources believed to be reliable and accurate. No warranty as to the accuracy or completeness of this information is given and no responsibility is accepted by Aware Super Pty Ltd or its employees for any loss or damage arising from reliance on the information provided.

General advice only. Consider your objectives, financial situation or needs, which have not been accounted for in this information and read the relevant PDS and TMD before deciding to acquire, or continue to hold, any financial product. Advice provided by Aware Financial Services Australia Limited (ABN 86 003 742 756, AFSL 238430), wholly owned by Aware Super. You should read the Financial Services Guide, before deciding about our financial planning services. Issued by Aware Super Pty Ltd (ABN 11 118 202 672, AFSL 293340), trustee of Aware Super (ABN 53 226 460 365).