ATO Warning: Crypto Currency Scammers

ATO Issues Crypto Scam Warning to Taxpayers

Posted on 03/04/2018

ATO Issues Crypto Scam Warning to Taxpayers

The Australian Tax Office (ATO) has issued a warning to alert taxpayers about recent reports they have received about fraudsters impersonating ATO employees.

It's a spin off of the typical scam, where the taxpayer receives a phone call or an email demanding payment of a fake "Tax Debt" and requesting they pay immediately. The difference this time is that they are demanding payment in crypto currency.

Surprisingly, the latest statistics from the ATO indicate that over $50,000 AUD has been paid to scammers to date. It is important to note that at present the ATO does not offer crypto currency as one of its payment options.

Unfortunately, once the payment has been made, its virtually impossible to get it back.

Don't become another victim of fraud. If you receive an email, letter or phone call from the ATO demanding payment of a tax debt, check whether it's legitimate by contacting your tax professional or call the ATO on 1300 008 540.

Read more about crypto currency scammers

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