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Australians lost over $634 million to scams in 2019, according to the latest figures in the ACCC’s Targeting Scams report released today.
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.
Scams reported to the ACCC involving identity theft or the loss of personal/banking information have cost Australians at least $16 million this year, and this figure is likely to be just the tip of the iceberg.
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 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.
Nearly 6000 businesses reported being targeted by scams in 2016 according to the Australian Competition and Consumer Commission’s Targeting Scams report, with losses totalling around $3.8 million, an increase of almost 31 per cent.
Scamwatch is warning consumers to beware of fake lotteries or competitions on social networking platforms, with scammers using popular platforms to pedal these empty wins.
SCAMwatch is warning consumers with a disability to be on guard against scams – unfortunately, scammers target people whom they think may be vulnerable to try and take advantage of them.
SCAMwatch and Telstra are warning consumers to hang up the phone if they receive a call out of the blue from someone claiming there is a problem with their internet connection or computer.
SCAMwatch is reminding people to beware of online scams – surveys, emails and social-media posts – offering fake gift vouchers or other bogus inducements in return for disclosing credit card and other personal information.