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Australians are set to lose a record amount to scams in 2019, with projections from losses reported to Scamwatch and other government agencies so far expected to exceed $532 million by the end of the
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.
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

SCAMwatch is warning consumers to be extremely cautious about getting involved in business opportunity schemes that promise a lot of income for little or no effort.

SCAMwatch is warning Australians to be on the lookout for a new chain letter scam seeking to take advantage of the current economic climate.

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