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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.