Australians lost 30% more money to fraudsters last year than in 2017, figures from the Australian Competition & Consumer Commission (ACCC) have revealed.
Taking the top spot was investment scams, which accounted for A$86m – nearly a fifth of the A$489m (£266m, $344m, €309m) handed over to fraudsters in 2018.
This was an uplift of 34% compared with the year before.
Dating and romance fraud came in second with £60.5m stolen.
Blending the old and new
“Total combined losses reported to [the ACCC’s] Scamwatch [website] and other government agencies exceeded A$489m – A$149m more than 2017,” ACCC deputy chair Delia Rickard said.
“And these record losses are likely just the top of the iceberg. We know that not everyone who suffers a loss to a scammer reports it to a government agency.”
She warned that fraudsters are “adapting old scams to new technology, seeking payment through unusual methods and automating scam calls to increase their reach to potential victims”.
