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Criminals are impersonating real businesses and offering fake sustainability investment bonds. They claim these bonds offer high returns and are protected by the government.
Criminals are impersonating charities and offering fake financial assistance schemes to target people experiencing financial hardship.
Criminals are calling, emailing or messaging people and pretending to be from their bank so that they can steal your money.
Scammers are creating lifelike impersonations (or 'deepfakes') of celebrities and public figures, who appear to be promoting 'quantum' or 'AI' online trading platforms.
In May 2023, the government funded the ACCC to set up a new National Anti-Scam Centre.
The centre will bring together experts from government and the private sector to tackle harmful scams.
Investment scams reported to Scamwatch have cost Australians over $70 million in the first half of this year, more than the total losses reported to Scamwatch for all of 2020, and projected losses are set to reach $140 million by the end of the year.
Last year scammers stole close to $34 million collectively from people who identified as culturally and linguistically diverse (CALD), people with disability, and Indigenous Australians.
Payment redirection scams were the most financially damaging scams for Australian businesses in 2020 according to the ACCC’s latest Targeting Scams report.
Australians have already lost over $288,000 to vehicle scams in the first quarter of this year, more than all losses reported to Scamwatch in 2019, and scammers have now begun impersonating defence personnel to con their victims.
Australians reported a record-breaking $37 million lost to Scamwatch last year for dating and romance scams. Total losses are expected to be much higher and scammers are now using dating apps to lure victims into investment scams.