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Scamwatch is warning people to be careful about being caught out by holiday season scams.

Scammers are increasingly catching out people by impersonating well-known businesses or the police so they can get access to computers and steal money or banking information.

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.