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The financial and emotional devastation caused by scams every year in Australia can be reduced if government, consumer groups and the private sector work together.
The ACCC is urging consumers to be on the look out for dodgy deals as pre-holiday sales approach.
Last year scammers stole close to $34 million collectively from people who identified as culturally and linguistically diverse (CALD), people with disability, and Indigenous Australians.
Payment redirection scams were the most financially damaging scams for Australian businesses in 2020 according to the ACCC’s latest Targeting Scams report.
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.
Australians have already lost over $288,000 to vehicle scams in the first quarter of this year, more than all losses reported to Scamwatch in 2019, and scammers have now begun impersonating defence personnel to con their victims.
Australian businesses reported over $14 million in losses to Scamwatch due to payment redirection scams last year, and average losses so far in 2021 are more than five times higher compared to average losses in the same period last year.
Losses to online shopping scams have increased 42 per cent this year, and Scamwatch is warning Australians to be careful when buying gifts this holiday season.
Australians have lost over $8.8 million to threat based scams so far this year, and young people are reporting the highest losses.
Australians have lost over $300,000 to rental and accommodation scams this year, an increase of 76 per cent compared to the same time last year.