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Australians under 25 lost over $5 million to scams in 2019 and reports made from this age group are increasing faster than older generations.
Australian businesses reported more than 5800 scams with losses exceeding $7.2 million in 2018, a 53 per cent increase compared to 2017, according to the ACCC’s Targeting scams report.
Scamwatch is warning people to be careful about being caught out by holiday season scams.
Scamwatch is calling on businesses to urgently review how they verify and pay accounts and invoices as reports of business email compromise (BEC) scams to Scamwatch have grown by a third this year.
The ACCC is warning consumers to beware of scammers impersonating energy and telecommunications providers and demanding payments.
The Australian Competition and Consumer Commission is warning the community to be aware of phone calls from scammers pretending to be from the Department of Human Services or Centrelink.