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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
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.

The ACCC has quickly acted to stop the individuals behind TVI Express from enticing consumers to join its so called money-making venture.

SCAMwatch alerts consumers to a company, Powerballwin.com.au Pty Ltd, that claimed it had a secret method to predict future Powerball draws.

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