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.
People are increasingly being caught out by celebrity endorsement scams, with reports to Scamwatch increasing 400 per cent and losses increasing a staggering 3,800 per cent so far in 2018.
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.
