Media releases
Westpac warns of red flags as job scams surge
17 March 2025
Job scams have surged dramatically, with new data from Westpac showing a 155% increase in job scam cases in January alone – an alarming trend highlighting a significant threat to Australians seeking additional income to cope with the ongoing high cost of living or wanting to start a new job this year.
One of the most concerning aspects of this rise is the disproportionate impact on women, who represent nearly three-quarters of the victims. Scammers are exploiting the appeal of flexible job opportunities that require no experience or qualifications, making them highly attractive to those in need of supplementary income and flexibility due to family circumstance.
Types of job scams vary, but some of the most common include:
- Fake job opportunities: Victims are tricked into paying for training or making small cryptocurrency payments to receive earnings or commissions.
- Money laundering or money mule scams: Individuals are deceived into processing payments through their own bank accounts under the guise of administrative roles, receiving a percentage of the commission.
- Pyramid schemes: Participants pay money upfront to join and then recruit others to do the same, often disguised with overpriced or low-quality products.
Ben Young, Westpac's Head of Fraud Prevention, says that while scam losses are at their lowest in five years, scammers continue to take advantage of Australians looking to support their families.
“With many Australians, often women, seeking opportunities to balance work with family responsibilities, the promise of flexible work is highly appealing. This can make people more susceptible to exploitation by scammers who offer seemingly perfect job opportunities that fit around managing a household.
“It is crucial for all Australians to be aware of the red flags to protect themselves, as falling victim to a job scam can cause significant emotional distress and long-term damage to personal and financial wellbeing.
"Job scams may not only result in financial losses but also lead to identity theft when victims hand over identity documents to scammers under the guise of a legitimate job opportunity.
“Do your research and verify the legitimacy of a job offer before proceeding.”
Common job scam red flags include:
- Unsolicited job offers: Be cautious of job offers that come out of the blue, especially if you haven't applied for the position.
- Requests for personal information: Legitimate employers will not ask for sensitive information such as your bank account details or passport upfront.
- Upfront payments: Be wary of job opportunities that require you to pay for training, equipment, or other expenses before you start working.
- High earnings for minimal work: If a job promises high income for little effort, it's likely too good to be true.
More information about the latest scams and how to avoid them is available at westpac.com.au/security.
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