Protecting your super from scammers

 

The importance of protecting your super against financial scammers was highlighted recently when Cbus learned a member’s super was accessed after it was transferred to a Self Managed Super Fund. 
This has emphasised the importance of ensuring the person giving you financial advice is qualified to do so and acts in your best interests.

Finding a financial adviser you can trust

Do your research when looking for a financial adviser. Check the Money Smart website to learn about an adviser’s qualifications and to see if they’ve been banned or disqualified from giving advice. Check Moneysmart's financial adviser register.

You can also contact the Cbus Advice Team for a second opinion or for a referral to an accredited Certified Financial Planner (CFP®). All CFPs meet strict professional qualification and service criteria as set by Cbus and the Financial Planning Association of Australia.

It is also important to keep track of any authority you have provided for another person or third party to access your account information.

Call 1300 361 784 (option 4) or visit advice services.

Protect yourself from identity theft

Some of the ways you can protect your identity include:

  • not giving your personal details to people you don't know
  • not giving copies of your identification document for an unknown purpose
  • securing your mail and destroying unnecessary personal information before throwing it away
  • check that your contact details on your super account are correct
  • check your bank and super statements for unusual transactions and review your credit report to ensure your name is not being used by someone else to borrow money or run up debts.

Visit Moneysmart for more information on how to protect yourself against financial scammers.