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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.
Scammers are targeting people looking online for love and friendship to trick them into fake investment and cryptocurrency schemes.
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.
The latest Targeting Scams report has revealed Australians lost a record $3.1 billion to scams in 2022, as government, law enforcement and the private sector look to improve collaborative efforts to support the community in the fight against scams.
It can play a vital role in protecting the people you care about from the heartache caused by romance and dating 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.
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.
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.