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Australians under 25 lost over $5 million to scams in 2019 and reports made from this age group are increasing faster than older generations.
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.
Australians are losing more money to NBN scams, with reported losses in 2019 already higher than the total of last year’s losses.
Scamwatch is warning people to be careful about being caught out by holiday season scams.
Punters are being warned to watch out for betting and sports investment scams which falsely promise high odds and big returns on Cup Day.