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Scamwatch reports Aussies losing $211M to scams this year

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Scamwatch reports Aussies losing $211M to scams this year

Scamwatch is urging Australians to be extra vigilant as they report a record of $211 million losses to scams in this year alone.

The reported losses are stated to have an 89 per cent increase, surpassing the $175.6 million losses that were reported last year. 

“It’s very concerning to see these scams evolving and becoming more sophisticated to steal even more money from unsuspecting people,” ACCC Deputy Chair Delia Rickard said.  

“While the proportion of reports involving a financial loss has dropped this year, the people who do lose money are losing bigger amounts. The average loss so far this year is about $11,000 compared to $7,000 for the same period in 2020.” 

Over $63.6 million of the reported losses came from phone-based scams. Additionally, 113,000 of the 213,000 this year’s reports were about phone scams.  

In phone scams, scammers would call or text as someone from well-known businesses or the government to inform the victim that their credit cards were used for large purchases.  

By pretending to aid victims in processing a refund, scammers are able to steal personal and banking details via remote access. 

Phone scams have become frequent as many Australians have turned to online shopping due to the state lockdowns.  

Scamwatch has noticed a significant increase in losses to phishing scams, remote access scams and identity theft. Losses to investment scams have also risen dramatically. 

“The rise in identity theft-related scams is particularly concerning as scammers can use the personal information they obtain for use in other crimes,” Deputy Chair Rickard said. 

“If you see a scam, please report it to Scamwatch, even if you haven’t lost any money. These reports are extremely important to us as they provide key information about any emerging scams or trends.” 

The ACCC has been sharing alleged scammer phone numbers with telecommunications providers for investigation and potential blocking. They have also been working with the banks to raise awareness with their customers who may have been compromised by Flubot malware scams. 

“Scammers are conning people out of more and more money, so it’s really important that everyone knows what to look out for and how to protect themselves,” Deputy Chair Rickard said.   

“Remember, you never know who you are dealing with online. Scammers often pretend to be from a well-known organisation, such as a bank or the government, and they will pretend to offer you something such as money or a benefit, or claim that you are in trouble.” 

Deputy Chair Rickard advises individuals to refrain from clicking on any links in unexpected messages and to never provide any personal or banking details to a stranger.

Anyone who has provided their banking details to a scammer should contact their bank or financial institution as soon as possible. 

People who suspect they may be a victim of identity theft should also contact IDCARE, a free government-funded service that works with individuals to develop a specific response plan to their situation and support them throughout the process. 

Source: ACCC Media Release

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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.

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