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Criminals are impersonating real businesses and offering fake sustainability investment bonds. They claim these bonds offer high returns and are protected by the government.
People looking for work are being warned to watch out for scam job or 'side hustle' ads on social media.
People looking for work are losing money to scammers who pretend to be real organisations or recruiters offering work.
In May 2023, the government funded the ACCC to set up a new National Anti-Scam Centre.
The centre will bring together experts from government and the private sector to tackle harmful scams.
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.
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.
Police have received reports of scams involving fake Australian Federal Police (AFP) representatives targeting vulnerable members of the community.
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.
Last year scammers stole close to $34 million collectively from people who identified as culturally and linguistically diverse (CALD), people with disability, and Indigenous Australians.
Australians lost over $851 million to scams in 2020, a record amount, as scammers took advantage of the pandemic to con unsuspecting people, according to the ACCC’s latest Targeting Scams report released today.