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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.
Scamwatch is warning people to be cautious of online shopping scams in the lead up to the holiday season.
Stay Smart Online Week is an annual event focused on empowering people, businesses and the community to protect themselves online.
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.
Scammers swindled nearly $4.7 million from Australian businesses in 2017 according to the ACCC’s latest Targeting scams report – a 23 per cent increase compared to 2016.
Australians lost more money to scammers in 2017 than in any other year since the ACCC began reporting on scam activity.
The ACCC is warning consumers to beware of scammers impersonating energy and telecommunications providers and demanding payments.
Scamwatch is warning people to watch out for scammers setting up fake ads pretending to sell adorable puppies, with more than $310,000 lost and 584 reports about this scam in the past 12 months.