Tax time can be stressful for small businesses, and cyber criminals know it. That’s why scams tend to spike during this period, targeting busy business owners who may be distracted or under pressure.
Key Takeaways:
- Tax time is prime time for scams: cyber criminals exploit busy, distracted business owners with convincing ATO and accountant impersonations.
- Phishing emails and malicious attachments are common during EOFY, designed to steal financial information or install malware.
- Slow down and verify: avoid clicking links, double-check requests, and use tools like MFA to protect your business during this high-risk period.
Why is EOFY a risk?
During tax season, you’re more likely to:
- Receive emails from accountants, the ATO, or financial services
- Share sensitive financial information
- Click links or download attachments quickly
Cyber criminals take advantage of this by sending convincing fake emails and messages that look legitimate.
Common tax-time scams
- Fake ATO emails or texts asking you to click a link or provide details
- Phishing emails posing as your accountant
- Requests for urgent payment or refunds
- Malicious attachments disguised as invoices or tax documents
Verify before you act:
If you receive an unexpected email or message, contact the sender directly using known details, not the ones in the message.
Avoid clicking links in emails:
Instead, go directly to official websites by typing the URL into your browser.
Be cautious with attachments:
Only open files you’re expecting and trust.
MFA adds an extra layer of protection to your accounts.
Updates often include important security fixes.
For business owners and teams
Make sure your staff are aware of tax-time risks too. A quick reminder or checklist can go a long way in preventing mistakes.
Tax time is busy, but rushing can lead to costly errors. Taking a few extra moments to verify emails and protect your information can help keep your business secure during this high-risk period.
For more information on how to keep you and your business cyber safe, enrol in a Cyber Wardens course today, or check out our upcoming webinars.
