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![Finance scams icon with pie chart and bar graph](/sites/www.scamwatch.gov.au/files/styles/scamwatch_news/public/2020-04/finance-scams-360x272.png?itok=Lrvz9vUs)
Scammers are now trying to exploit Australians financially impacted by the COVID-19 crisis with new superannuation scams being reported to Scamwatch in recent weeks.
![Scamwatch COVID-19 thumbnail](/sites/www.scamwatch.gov.au/files/styles/scamwatch_news/public/2020-04/SCAMWATCH-COVID-19_360x272.png?itok=hClu9yey)
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.
![Scamwatch COVID-19 thumbnail](/sites/www.scamwatch.gov.au/files/styles/scamwatch_news/public/2020-04/SCAMWATCH-COVID-19_360x272.png?itok=hClu9yey)
Unfortunately, scammers are taking advantage of the spread of coronavirus to exploit and play on the fears of consumers across Australia.
![](/sites/www.scamwatch.gov.au/files/styles/scamwatch_news/public/related-article/Scam33_0.jpg?itok=5791e9aY)
Australians under 25 lost over $5 million to scams in 2019 and reports made from this age group are increasing faster than older generations.
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Scamwatch is warning people to be cautious of online shopping scams in the lead up to the holiday season.
![](/sites/www.scamwatch.gov.au/files/styles/scamwatch_news/public/Scams_Awareness_Week_360x272.png?itok=JRviIdyH)
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.
![](/sites/www.scamwatch.gov.au/files/styles/scamwatch_news/public/featured/1531-Scamwatch-Targeting-Scams-Report-THM_1.png?itok=zLnq7f6s)
Australians who are older, Indigenous or have disability reported record losses in 2018 according to the ACCC’s annual Targeting Scams report released this week.
![](/sites/www.scamwatch.gov.au/files/styles/scamwatch_news/public/featured/1531-Scamwatch-Targeting-Scams-Report-THM_1.png?itok=zLnq7f6s)
Australian businesses reported more than 5800 scams with losses exceeding $7.2 million in 2018, a 53 per cent increase compared to 2017, according to the ACCC’s Targeting scams report.
![](/sites/www.scamwatch.gov.au/files/styles/scamwatch_news/public/related-article/Scam22_2.jpg?itok=8KXSmtTj)
Gift cards are increasingly the payment method of choice for scammers. Scamwatch reports show more than $5 million was lost in 2018, a 38 per cent increase compared with 2017.
![](/sites/www.scamwatch.gov.au/files/styles/scamwatch_news/public/featured/merry%20christmas_0.jpg?itok=2ylIG5_p)
Scamwatch is warning people to be careful about being caught out by holiday season scams.