Have you ever spotted an internet scam, know someone who’s been scammed, or maybe even been targeted yourself?
Sometimes it can be a challenge to determine what is real and what isn’t online, and scammers can often pose as people you know and copy visual cues that may lead you to believe they are someone they’re not. This can be frustrating to deal with when you’re going through a settlement, as you may not be sure what is legitimate.
This includes money laundering, and when you think of the term “money laundering”, perhaps you think of offshore accounts, shady organisations, and big banks. Unfortunately, this intricate scheme is more common than you think and can target a range of people.
Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws came into effect from July 1st 2026. Protecting against financial crime is a shared duty, and here at Prestige, we’re committed to keeping you safe.
We want to share some tips that you can use on a day-to-day basis to spot an internet scam, or “phishing”, and how to protect yourself from sharing too much information with the wrong people.
What is “phishing”?
Phishing is a way cybercriminals trick you into giving them personal information. They send you fraudulent emails or text messages often pretending to be from organisations you know or trust. They may try to steal your online banking logins, credit card details, passwords or attempt to gain access to your accounts by requesting you link devices by scanning a Quick Reference (QR) code, or sharing account registration PINs or verification codes. Phishing can result in the loss of information, money or identity theft.
How you can stay safe:
- Triple-check that the email address in the “From” section of the email matches the one on the official website of the organisation or person you are in correspondence with. If you are unsure if something is legitimate, get in touch with the organisation directly to verify.
- Ensure the email signature is high quality and matches the one on the website. Sometimes phishing emails will contain copied signatures that may appear low-quality or grainy.
- Keep a lookout for suspicious or abrupt activity. For example, if you receive an email that appears to match the signature and email address from Prestige that you’ve been corresponding with just before a settlement, claiming the conveyancer’s bank details have changed, this is a fraudulent email.
- Never transfer funds based solely on bank details received by email. We always recommend that clients call us directly on our known office number to verbally confirm our trust account details before transferring any money. Email accounts can be compromised, so this extra step helps protect you from potential fraud. We also recommend keeping confirmation emails and reference numbers for any online verification or documents submitted throughout the settlement process.
- Use trusted document systems associated with your settlement. We use LiveSign to securely complete our clients’ identity and AML verification, which adds extra security instead of sending sensitive documents via email. We also use secure settlement platforms such as PEXA where applicable, along with internal verification procedures for any important changes or financial information. These systems help us protect your personal information and keep the settlement process as secure as possible.
Learn more about recognising phishing activity here.
The Australian Signals Directorate has published a useful quiz to help recognise phishing schemes.