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Data from the ACCC’s annual Targeting Scams report, released this week, indicates scammers don’t discriminate and are targeting a range of different communities in Australia.
Australians lost over $634 million to scams in 2019, according to the latest figures in the ACCC’s Targeting Scams report released today.
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 year, surpassing half a billion dollars for the first time.
Punters are being warned to watch out for betting and sports investment scams which falsely promise high odds and big returns on Cup Day.
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.
The Australian Competition and Consumer Commission is warning online shoppers to be wary of scammers masquerading as legitimate online retailers, often selling well-known brands at too-good-to-be-true prices.