Aussies warned of new scam targeting superannuation funds

Australia's scammer watchdog is warning phone-users to be wary of a new scam text message impersonating the Australian Taxation Office (ATO).

The text claims to have notified the user's superannuation provider allowing them to early release of their funds.

"The ATO have notified ... to pay your approved COVID-19 early release of super," the fake text reads.

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"If you did NOT request this payment, reply to this SMS immediately with the word 'NO' so we can stop the payment. We will generally process your payment within five working days."

Scamwatch yesterday released a warning telling people to call the ATO if they have not requested for their super to be released early.

People have been warned to look out for official ATO phone numbers as an indicator of whether a text is a scam.