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![Finance scams icon with pie chart and bar graph](/sites/www.scamwatch.gov.au/files/styles/scamwatch_news/public/2020-04/finance-scams-360x272.png?itok=Lrvz9vUs)
Scammers are now trying to exploit Australians financially impacted by the COVID-19 crisis with new superannuation scams being reported to Scamwatch in recent weeks.
![Scamwatch COVID-19 thumbnail](/sites/www.scamwatch.gov.au/files/styles/scamwatch_news/public/2020-04/SCAMWATCH-COVID-19_360x272.png?itok=hClu9yey)
Australians should be aware scammers are adapting existing technology to play on people’s fears around coronavirus and selling products claiming to prevent or cure the virus.
![Scamwatch COVID-19 thumbnail](/sites/www.scamwatch.gov.au/files/styles/scamwatch_news/public/2020-04/SCAMWATCH-COVID-19_360x272.png?itok=hClu9yey)
Unfortunately, scammers are taking advantage of the spread of coronavirus to exploit and play on the fears of consumers across Australia.
![](/sites/www.scamwatch.gov.au/files/styles/scamwatch_news/public/Scams_Awareness_Week_360x272.png?itok=JRviIdyH)
Australians are set to lose a record amount to scams in 2019, with projections from losses reported to Scamwatch and other government agencies so far expected to exceed $532 million by the end of the year, surpassing half a billion dollars for the first time.
![](/sites/www.scamwatch.gov.au/files/styles/scamwatch_news/public/featured/1531-Scamwatch-Targeting-Scams-Report-THM_1.png?itok=zLnq7f6s)
Australians who are older, Indigenous or have disability reported record losses in 2018 according to the ACCC’s annual Targeting Scams report released this week.
![alt=""](/sites/www.scamwatch.gov.au/files/styles/scamwatch_news/public/type-of-scam-images/online-shopping.png?itok=3HLCmMuX)
People are increasingly being caught out by celebrity endorsement scams, with reports to Scamwatch increasing 400 per cent and losses increasing a staggering 3,800 per cent so far in 2018.
![](/sites/www.scamwatch.gov.au/files/styles/scamwatch_news/public/type-of-scam-images/investment_0.png?itok=rwbsxsDV)
Scamwatch is warning the Australian community to be wary about investment scams, with statistics revealing Australians are collectively losing $4.3 million a month to these scams.
![](/sites/www.scamwatch.gov.au/files/styles/scamwatch_news/public/type-of-scam-images/protect-small-business.png?itok=W1druqQv)
Scammers swindled nearly $4.7 million from Australian businesses in 2017 according to the ACCC’s latest Targeting scams report – a 23 per cent increase compared to 2016.
![](/sites/www.scamwatch.gov.au/files/styles/scamwatch_news/public/related-article/Scam44.jpg?itok=aN7x2JLQ)
The ACCC is warning people to be on the lookout for scammers who are trying to con their victims into paying for scams with Apple iTunes gift cards.
![](/sites/www.scamwatch.gov.au/files/styles/scamwatch_news/public/type-of-scam-images/investment_0.png?itok=rwbsxsDV)
The ACCC is warning the community to watch out for investment scammers who promise the world but leave their victims with broken dreams and empty bank accounts.