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![Image of elderly couple using laptop and phone](/sites/www.scamwatch.gov.au/files/styles/scamwatch_news/public/online-shopping2-800x400.jpg?itok=mH1-nVnI)
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.
![Investment scams thumbnail](/sites/www.scamwatch.gov.au/files/styles/scamwatch_news/public/type-of-scam-images/investment-scams-thumb.jpg?itok=hFNGNdK_)
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.
Australians reported a record $211 million in losses to scams so far this year, an 89 per cent increase compared to the same period last year, according to new data from Scamwatch.
![Investment scams thumbnail](/sites/www.scamwatch.gov.au/files/styles/scamwatch_news/public/type-of-scam-images/investment-scams-thumb.jpg?itok=hFNGNdK_)
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.
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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.
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Payment redirection scams were the most financially damaging scams for Australian businesses in 2020 according to the ACCC’s latest Targeting Scams report.
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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.
Australian businesses reported over $14 million in losses to Scamwatch due to payment redirection scams last year, and average losses so far in 2021 are more than five times higher compared to average losses in the same period last year.
![](/sites/www.scamwatch.gov.au/files/styles/scamwatch_news/public/featured/Dating%20romance%20thm.jpg?itok=dpBm_VS0)
Australians reported a record-breaking $37 million lost to Scamwatch last year for dating and romance scams. Total losses are expected to be much higher and scammers are now using dating apps to lure victims into investment scams.
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The ACCC has launched a podcast series for this year’s National Scams Awareness Week to provide Australians with tips on how to protect their personal and financial details from scammers.