Fraudsters’ tax office crypto con

SCAMMERS are impersonating the Australian Taxation Office and demanding Bitcoin and other cryptocurrency payments for fake tax debts.

The ATO identified fraudsters pioneering the new payment method when ripping off taxpayers in late 2017.

Unsuspecting members of the public have already handed over more than $50,000 in Bitcoin to scammers claiming the fake ATO debts.

In 2017, the ATO received more than 80,000 reports of scams, with taxpayers reporting almost $2.4 million dollars lost to scammers claiming to be from the ATO.

The callers usually target the elderly and socially isolated people.

“Cryptocurrency operates in a virtual world, and once the scammers receive payment, it’s virtually impossible to get it back,” ATO Assistant Commissioner Kath Anderson said.

“The ATO won’t ask people to pay in Bitcoin or with an iTunes card and if you aren’t sure you can call our scams line,” she said.

The ATO remains concerned about scams demanding direct deposits into third-party bank accounts, demanding payment via iTunes cards or with prepaid Visa gift cards.