Home Scam/Fraud Scamwatch: 2020 a record year for scam loss

Scamwatch: 2020 a record year for scam loss

2

Every year, thousands of Australians are targeted by scams, whether it be online, via phone, mail or even in person. Australian Community Media has compiled a list of current scams identified on sites such as scamwatch.gov.au, www.cyber.gov.au and the Australian Competition and Consumer Commission’s website dedicated to informing people about fraudulent and dishonest activities.

Record scam losses in 2020

  • Australians lost a record $851 million to scams last year with investment ($328m loss), romance ($131m) and payment redirection scams ($128m) accounting for almost 70 per cent of all losses from 444,000 scam reports
  • Phishing – where a fraudulent message designed to trick someone into revealing sensitive information – thrived during the pandemic, especially through government impersonation scams. There were more than 44,000 reports of phishing scams, representing a 75 per cent increase from 2019
  • Health and…

Click here for full article: [source_domain