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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.
Scams reported to the ACCC involving identity theft or the loss of personal/banking information have cost Australians at least $16 million this year, and this figure is likely to be just the tip of the iceberg.
Australians are losing more money to NBN scams, with reported losses in 2019 already higher than the total of last year’s losses.
Scamwatch is warning people to be careful about being caught out by holiday season scams.