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.
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.
… Romance baiting scams on the rise … Australians reported a record-breaking … conversation to an encrypted chat site. After a few weeks of developing a relationship, the scammer will begin asking … you met on an app and never give financial or personal details to someone you’ve only met online,” Ms Rickard said. …
A national campaign has been launched by consumer regulators around Australia to warn potential property investors about property spruikers who claim to be ‘wealth creators’ but are really just in it for themselves.