Reporting a superannuation scam is important — not just for recovering your own funds, but to help prevent other Australians from being targeted. Here’s who to contact and what information to provide.
Step 1 — Contact Your Super Fund Immediately
If you think your super account has been compromised, or if a suspicious rollover has been initiated:
- Call your super fund’s member services line immediately
- Report the suspicious activity and ask them to freeze or flag your account
- Ask if any pending rollovers can be stopped before processing
Super fund customer service contacts are on the back of your member card or on the fund’s website. The ATO SuperMatch system means rollovers can be processed quickly — time matters.
Step 2 — Report to the ATO
The ATO is the primary regulator for superannuation and has investigative powers over super fraud, illegal early access schemes, and SMSF-related fraud.
How to report:
- Online: Use the “Report tax evasion or fraud” form at ato.gov.au
- Phone: 13 28 61 (ATO general enquiries; ask to be directed to the fraud reporting team)
- Anonymous tip: You can report anonymously online
Information to include:
- Name and ABN/TFN of the suspected promoter or fund (if known)
- Nature of the scheme (illegal early access, fake fund, SMSF fraud, etc.)
- Dates and amounts involved
- Any documents you were provided
Step 3 — Report to ASIC
ASIC is responsible for financial services conduct, including unlicensed financial advice and fraudulent investment schemes.
How to report:
- Online at asic.gov.au/report-misconduct
- Phone: 1300 300 630
ASIC can investigate advisers, fund promoters, and companies involved in super fraud, including pursuing criminal charges and banning orders.
Step 4 — Report to Scamwatch
The ACCC’s Scamwatch collects data on scams affecting Australians. Reporting helps the ACCC identify trends and warn the public.
Report at: scamwatch.gov.au
Step 5 — Complain to AFCA (If You Lost Money)
The Australian Financial Complaints Authority (AFCA) handles disputes between consumers and financial services providers — including superannuation funds. If your super fund failed to protect your account or processed a suspicious transaction without adequate checks, AFCA can investigate and potentially order remediation.
AFCA is NOT for:
- Reporting fraud perpetrated by third parties (use ATO/ASIC for that)
- Disputes about investment returns
AFCA IS appropriate for:
- Your super fund failed to flag a suspicious rollover
- Your fund’s insurance claim was wrongly denied
- The fund made an error affecting your balance
Contact AFCA: afca.org.au or call 1800 931 678.
If You’ve Already Lost Money — Practical Steps
- Seek legal advice: A solicitor experienced in superannuation or fraud recovery can advise whether civil recovery is possible
- Keep all documents: Emails, contracts, transaction records — even if you feel embarrassed about the scam
- Voluntary disclosure to ATO: If you participated in an illegal early access scheme, voluntary disclosure through a registered tax agent can sometimes reduce penalties
- Seek mental health support: Financial scams cause significant stress — Beyond Blue (1300 22 4636) and Lifeline (13 11 14) offer support
Frequently Asked Questions
Will I get my super back if I report a scam? Reporting helps the ATO and ASIC investigate and potentially recover funds, but recovery is not guaranteed. If your super was illegally released, the primary practical concern is the tax consequences — seek advice.
Can I report anonymously? Yes — the ATO’s online tipoff form accepts anonymous reports. Providing identifying information helps investigators but is not required.
What if I’m unsure if what I was offered is a scam? You can call the ATO on 13 28 61 and ask anonymously about the legality of a specific offer without revealing personal details. ASIC also has a financial services information line at 1300 300 630.
For more: Super Scams, Illegal Early Release, How to Verify a Super Fund, SMSF Fraud. For advice on your situation, speak with a licensed financial adviser via MoneySmart.