Fraudsters have attempted to access the superannuation accounts of up to 150 Australians.
Australian Federal Police commissioner Reece Kershaw has on May 7 told a Senate inquiry five search warrants had been executed in relation to the fraud.
Some bank accounts have been frozen, containing about $120,000.
The fraud relates to more than one superannuation provider.
“It is quite sophisticated,” Kershaw said.
Australians are able to access their super early to help them financially during the COVID-19 pandemic.
Australian Tax Office boss Chris Jordan has urged the public to remain vigilant with their information.
“I would really wish to emphasise that people do keep personal information secure and private,” he told the inquiry.
The Senate inquiry is looking into the government’s response to the COVID-19 pandemic.
Thursday’s hearing will also gather evidence from Treasury officials.
By Rebecca Gredley