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

Scamwatch is calling on businesses to urgently review how they verify and pay accounts and invoices as reports of business email compromise (BEC) scams to Scamwatch have grown by a third this year.

Scammers are increasingly using fake charities or impersonating real charities to take advantage of people’s generosity and compassion, with losses reported to the ACCC’s Scamwatch increasing steadily over the past four years.

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.

The ACCC is warning consumers to beware of scammers impersonating energy and telecommunications providers and demanding payments.

If you lost money to a scammer through Western Union from 2004 to 2017, you may be eligible for a refund. Find out how you can make a claim.