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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.
Scammers are increasingly using fake charities or impersonating real charities to take advantage of people’s generosity and compassion, with losses reported to the ACCC’s Scamwatch increasing steadily over the past four years.
Australians lost more money to scammers in 2017 than in any other year since the ACCC began reporting on scam activity.
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.
Nearly $82 million was lost to scams in 2014, and many included some form of identity fraud. The theme of National Consumer Fraud Week 2015 is ‘get smarter with your data’.