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Losses to imposter bond investment scams have nearly tripled in the first half of this year with consumers losing over $20 million to these sophisticated scams.
The financial and emotional devastation caused by scams every year in Australia can be reduced if government, consumer groups and the private sector work together.
Australian businesses lost $227 million to payment redirection scams in 2021, a 77 per cent increase compared to 2020, the ACCC’s latest Targeting Scams report reveals.
Scammers stole over $66 million last year from Indigenous Australians, people who identified as culturally and linguistically diverse (CALD), and people with disability
Australians lost a record amount to scams in 2021, despite government, law enforcement, and the private sector disrupting more scam activity than ever before.
Australians lost over $205 million to scams between 1 January and 1 May, a 166 per cent increase compared to the same period last year, according to new data from Scamwatch.
Scamwatch is warning people to be aware of uninvited offers of help to recover money for an up-front payment, following a spike in reports of money recovery scams.
Scamwatch is urging people to watch out for dating and romance scams after Australians reported losing a record $56 million last year, an increase of 44 per cent.
The ACCC is urging consumers to be on the look out for dodgy deals as pre-holiday sales approach.
Investment scams reported to Scamwatch have cost Australians over $70 million in the first half of this year, more than the total losses reported to Scamwatch for all of 2020, and projected losses are set to reach $140 million by the end of the year.