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Scamwatch is warning the Australian community to be wary about investment scams, with statistics revealing Australians are collectively losing $4.3 million a month to these scams.

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.

SCAMwatch is reminding people to beware of online scams – surveys, emails and social-media posts – offering fake gift vouchers or other bogus inducements in return for disclosing credit card and ot

More than $300,000 will be returned to consumers who were victims of North American-based scams after Australian Competition and Consumer Commission court intervention.

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