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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.
The ACCC has launched a podcast series for this year’s National Scams Awareness Week to provide Australians with tips on how to protect their personal and financial details from scammers.
Data from the ACCC’s annual Targeting Scams report, released this week, indicates scammers don’t discriminate and are targeting a range of different communities in Australia.
Business email compromise scams caused the highest losses across all scam types in 2019 costing businesses $132 million, according to the ACCC’s Targeting Scams report.
Australians lost over $634 million to scams in 2019, according to the latest figures in the ACCC’s Targeting Scams report released today.
Australians should be aware scammers are adapting existing technology to play on people’s fears around coronavirus and selling products claiming to prevent or cure the virus.
Scammers are using new online platforms to take advantage of their victims, with dating and romance scams making up one fifth of losses across all scams reported to Scamwatch in 2019.
Scamwatch is warning all Australians to be on the lookout for bushfire fundraising scams and do their research when donating so that money can get to those who are in need, rather than those who would take advantage.
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 year, surpassing half a billion dollars for the first time.
Scams reported to the ACCC involving identity theft or the loss of personal/banking information have cost Australians at least $16 million this year, and this figure is likely to be just the tip of the iceberg.