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Australians under 25 lost over $5 million to scams in 2019 and reports made from this age group are increasing faster than older generations.
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.
The Australian Competition and Consumer Commission is warning the community to be aware of phone calls from scammers pretending to be from the Department of Human Services or Centrelink.