THE SENIOR
AUSTRALIANS are being warned to take extra care with their retirement savings as increasingly sophisticated artificial intelligence scams make it harder to separate genuine financial communications from fraud.
Superannuation has become an increasingly attractive target for cybercriminals, with Australians losing $22 million to superrelated scams in 2025.
The average reported loss was a staggering $88,736, according to National Anti-Scam Centre data.
AustralianSuper’s Sarah Carney said artificial intelligence had changed the game for scammers, allowing criminals to produce professionallooking websites, messages, reviews and even fake endorsements.
“AI has given criminals the ability to create these incredibly convincing websites and messaging and fake reviews, which makes it just that little bit harder for us to trust what they put in front of us,” Ms Carney said.
Gone are the days when a suspicious email could easily be picked by spelling mistakes, poor grammar or a dodgy-looking company logo.
Modern scams can feature polished websites, realistic branding and videos or endorsements appearing to feature recognisable people.
“So AI is really assisting in creating – well, manufacturing trust, I suppose – at scale,” Ms Carney said.
While scam losses remain significant, there are signs Australians are becoming more alert.
Scamwatch figures show Australians have lost $186.9 million to scams so far in 2026, down from almost $210 million over the corresponding period last year.
Investment scams remain the biggest threat, accounting for almost $96 million in losses between January and August.
Romance scams have cost Australians $17.7 million, while account takeover and identity theft scams have accounted for another $16.5 million.
One of the biggest weapons used by scammers is urgency.
The key message for anyone confronted with an unexpected financial request is simple.
“Just stop, check, verify,” Ms Carney said.
