Fraud & Security News

$86.5M National Anti-Scams Centre to protect Aussies from rising fraud threat

Eliza Sayon May 23, 2023

< 1 min read

In an effort to protect Australians from falling victim to scams and online fraud, the federal government has unveiled a comprehensive $86.5 million package to establish the cutting-edge National Anti-Scams Centre.

“Scammers have been siphoning off substantial amounts of money from unsuspecting individuals on a daily basis, prompting the government to take decisive action,” Minister for Financial Services Stephen Jones said.

Minister Jones states that Australians lost over $3 billion to scams in 2022 alone, with scam losses surging nearly five-fold since 2020.

“On average, victims lose approximately $20,000, a significant blow considering the average household savings stand at around $34,000,” he said.

The National Anti-Scams Centre will serve as the government’s primary weapon against scammers, focusing on the detection, disruption, and deterrence of fraudulent activities online.

Operating through a pioneering collaboration between government agencies, banks, telecommunications companies, and digital platforms, the National Anti-Scams Centre aims to achieve the following objectives:

Utilize state-of-the-art technology to facilitate real-time intelligence sharing across government agencies and authorized industry participants, enabling swift intervention to thwart scams.
Leverage the combined expertise of the government and private sector to disrupt scam operations effectively.
Enhance consumer awareness about the risks associated with scams and educate them on how to avoid falling prey to fraudulent schemes.

“Fighting scams is everyone’s business. We can’t do it without collaboration across Government and, crucially, with the private sector,” Minister Jones said.

“This Government will not stand by and let scammers come after Australians’ hard‑earned savings.”

The National Anti-Scams Centre will be housed within the Australian Competition and Consumer Commission (ACCC) and is scheduled to become operational on July 1, 2023.

The anti-scams initiative, which was announced in the 2023-24 Budget, signifies a proactive stance by the federal government in stopping scammers from targeting the financial security of the Australian populace.

Eliza Sayon

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Eliza is a content producer and editor at Public Spectrum. She is an experienced writer on topics related to the government and to the public, as well as stories that uplift and improve the community.