Look out for the Super Villains

With the recent collapse of the First Guardian/ Shield schemes, it is clear that super scams are on the rise. Super villains make their living by targeting your hard-earned retirement dreams, encouraging you to move your money into products that benefit them, not you and could even result in you losing your retirement savings.

This page will provide simple signs to look out for, steps to stay safe and where to find support if you've been hit.

What can you do to keep your super safe?

Your superannuation is one of the biggest assets you will own in your life. Don’t risk years of your hard work. Here are some tips:

• ASIC keeps a list of lead generators and partners. Check this list before engaging with someone you don’t know about your superannuation and exercise extra caution before engaging with any organisations on the list.
• Be cautious if someone you don’t know contacts you to talk about your super.
• Feel free to hang up if you are concerned. You don’t need to be polite or explain why you are hanging up.
• Check ATO for lost super or ask your existing super fund for help instead of trusting random groups you don't know.
• Add your phone number to the Australian Government’s Do Not Call register. You can now add your mobile number as well as your landline.
• Before following any financial advice, ensure it has been provided by a licensed adviser and you are provided with clear, written information and a Statement of Advice (SOA).
• See more tips on how to keep your super safe.

What if you've been hit?

Remember, you're not alone. These tricksters prey on good people but spotting signs early and knowing next steps could help mitigate your losses. Act fast to limit damage:

• Contact your super fund immediately. They may be able to block transfers. (fund dropdown).
• Report to Scamwatch (scamwatch.gov.au), ASIC (asic.gov.au), or police.
• Call 1800 009 624 (IDCARE) for free emotional/tech support.
• Chat with family or a counsellor; free advice from your fund helps reset.