From the desk of Roland Rocchiccioli

CAVEAT Emptor — let the buyer beware! If the financial proposal sounds too-good-to-be-true, it is highly probable it is a scam. You should turn and run a mile!

Technology has changed our lives, irrevocably; conversely, it has at the same time introduced a plethora of hitherto unknown problems. In times past it was nigh-on impossible to steal from a savings bank passbook, or a trading bank cheque account. The world has changed!

In 2024 Australians lost approximately $2.03-billion in electronic scams. Investment swindles — the promise of a quick fortune and the life of Riley — accounted for $945 million.

The Australian Competition and Consumer Commission (ACCC) reveal Australians aged 65-plus are proving the most vulnerable group. More than 46,000 people in the age category reported instances of scamming. Collectively, they lost $82-million ­— more than any other age group. The most common impersonation scams use government departments — MyGov/ATO, and Australia Post as bait.

The Nation’s lovelorn lost an estimated $23.6 million according to the National Anti-Scam Centre. Widows, those lonely-hearts looking for love in all the wrong places, are sitting-ducks for Cupid’s tarnished arrow! The Horn of Africa and Russia are known offenders. Beware — photographs on profile pages are invariably fake. If the object of your desire bears an uncanny resemblance to a Kelvin Klein underwear model who suddenly develops a terminal condition requiring expensive surgery and asks for the medical costs, do not be fooled. Indubitably, it is a scam! You are steps away from being financially fleeced! You should end the association, without hesitation.

Seemingly, men of all ages are vulnerable. The pouting seductress in lacy lingerie, promising a lifetime of connubial bliss to a gentlemen old enough to be her grandfather, is most likely a fake and a scam. However flattering, or irresistible, the encounter, they should be approached with caution. All that glistens is not gold!

Our dependency on electronic communication has exposed us to a battalion of crooks — champing at the bit. It is imperative everyone exercises caution — pause and consider. Cold-calling charities are an obvious trap. As a general rule: never make a telephone donation to an unknown caller. Do not engage in a conversation. Hang-up the phone. Register on-line to stop nuisance calls. The scammers stole $107.2-million in 2024.

Axiomatically, older adults have limited capacity to recover from these losses — many of which are avoidable. It is unfathomable that victims, having wittingly made a catastrophic decision without consultation, have an expectation to be recompensed for their losses. We are responsible for our own lives and actions. If you are tempted by greed — and a portion of losses are directly attributable — or you fail to check the caller’s validity before reacting, then you have no-one to blame but yourself. A willingness to participate in a financial transaction should not be instantaneous.

Always, hesitate and consider before you take the decision to open a suspect email; provide any personal information; respond to an urgent message; or take an unusual action. Unequivocally, always discuss it with someone. Contact your bank or local police station if needs be.

It is no longer possible to trust, absolutely. If in doubt, hesitate. Your lack of attention will see you relieved of your savings with the click of a button. It takes only seconds!

Roland can be heard with Brett Macdonald radio 3BA — Monday 10.40am. Contact: [email protected]