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Spear Phishing: What is it and how to protect yourself.

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Cybercriminals are once again working hard to take advantage of the COVID-19 situation through new phishing campaigns. Most recently, a wide range of political and private-sector organisations in Australia have come under cyber-attack by a “sophisticated state-based cyber actor”. This phishing tactic is called spear phishing.

Read more: Spear Phishing: What is it and how to protect yourself.

 

Two-Factor Authentication, what is it and why you need it.

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With the current technology climate changing and with the advancement of software, keeping your bank accounts secure is becoming more difficult. Two-Factor Authentication (often shortened to 2FA) is not new, but it is gaining momentum as bank accounts are left exposed with weak or poorly secured passwords. Whether it be your bank accounts or social media accounts, the 2FA, also known as Two-Step Verification, provides an extra layer of security to ensure that it's you logging into your accounts.

Read more: Two-Factor Authentication, what is it and why you need it.

 

Important Change to Osko® Daily Limits

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As part of our ongoing commitment to protect our Member’s funds from fraud, from 3 March 2021, we will be reducing the daily limit for payments via Osko® to $1,000 per account per day.

Read more: Important Change to Osko® Daily Limits

   

Slashed stamp duty gives a positive boost for first home buyers

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The new scheme released by the Australian Government for first home buyers is a game-changer and a welcome helping hand during these tough times.

For first home buyers, under the new scheme, the threshold that Stamp Duty will be charged on new homes will increase from the current $650,000 to $800,000, with the concession reducing on higher values before phasing out at $1 million. The stamp duty threshold on vacant land will rise from $350,000 to $400,000 and will phase out at $500,000.

Read more: Slashed stamp duty gives a positive boost for first home buyers

 

CUPID-19: Romance scammers taking advantage of the continuing pandemic

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With the pandemic continuing to affect the daily lives of Australians, romance scammers are targeting the emotionally vulnerable and taking advantage of people wanting to escape the reality of lockdown. 

Coined “romance scammers”, criminals create fake profiles on popular social media platforms such as Facebook and Instagram or dating sites. They then start a conversation with their targets to build their trust, sometimes talking to them multiple times a day and for several months. Once they have built up this trust, they will trick their victims through a false story and ask for money.

Read more: CUPID-19: Romance scammers taking advantage of the continuing pandemic

   

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