Financial Scams and Your Health

Why scams matter for household wellbeing

Financial scams target everyday households using convincing tactics designed to pressure, confuse, or emotionally manipulate. Scams may try to take money directly or gather personal information so someone can impersonate you later. Once personal details are shared, consequences may last beyond the initial event and create ongoing stress, time burden, and financial worry. Awareness is protection — and no one should feel blamed for being targeted.

How scams can affect your health

Financial stress can affect sleep, concentration, mood, confidence, and relationships. Many people feel embarrassed or self-critical, even though scams rely on deception, urgency, and manipulation. A steadier approach helps: focus on safety, practical steps, and support rather than self-blame. Calm routines, reassurance, and informed action restore a sense of control.

Protecting personal information

Personal information includes passwords, bank accounts, Medicare numbers, identity documents, and security question details such as your address or date of birth. A helpful safety rule is this:
You share personal information only when you initiated the contact and you are using trusted, official contact pathways, not links or numbers sent to you unexpectedly.

Older adults and why they are sometimes more affected

Older adults may be targeted more frequently because scammers assume trust, politeness, or reduced familiarity with rapidly changing technology. Visual, cognitive, sensory, and mobility factors may also affect ability to double-check information quickly. Families and carers can support safer environments by encouraging conversations, helping review suspicious messages, and creating a culture where “checking first” is seen as sensible, never embarrassing.

Building safer digital habits at home

Household devices hold important personal information. Helpful steps include:

• using strong, unique passwords for important accounts

• enabling two-factor authentication where available

• regularly updating phones, tablets, computers, and modems

• discussing scams openly in the household so everyone recognises warning signs

These habits reduce risk and protect privacy.

What to do if you’ve been scammed — calm, practical steps

1️⃣ Stop and pause — avoid sending more money or information.
2️⃣ Contact your bank immediately — they may help block transactions or secure your accounts.
3️⃣ Change passwords — especially email, banking, and key services.
4️⃣ Activate two-factor authentication if not already in place.
5️⃣ Report the scam using trusted Australian services (below).
6️⃣ Speak with someone you trust to reduce isolation and worry.
7️⃣ See your GP if stress, anxiety, sleep problems, or health concerns develop.

You have not “failed” — responding quickly and sensibly helps protect your future safety.

Australian scam support and information

• Scamwatch (ACCC) — information, alerts, and reporting
  www.scamwatch.gov.au

• IDCARE — Australia’s national identity and cyber support service
  www.idcare.org

• Banks and financial institutions — fraud and scam support teams

• Australian Cyber Security Centre (ACSC)
  www.cyber.gov.au

Using official websites rather than clicking links in messages is safer.

Reducing stress and supporting your wellbeing

If worry, poor sleep, fear, or ongoing anxiety continue, your GP can support you with health review, stress management strategies, and referral options if helpful. Your wellbeing matters as much as financial safety.

This article provides general health information only and does not replace medical advice. Please speak with your GP for personalised care.