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![](/sites/www.scamwatch.gov.au/files/styles/scamwatch_news/public/featured/Horse.jpg?itok=l-BCo-2F)
Punters are being warned to watch out for betting and sports investment scams which falsely promise high odds and big returns on Cup Day.
![](/sites/www.scamwatch.gov.au/files/styles/scamwatch_news/public/type-of-scam-images/ransomware.png?itok=JlHLhOHa)
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.