The amount of money lost by Australians to scammers has risen by almost 23 percent, from December 2021 to January 2022.
The number of crimes reported to the Australian Competition and Consumer Commission (ACCC) increased by over forty percent from the previous month, with losses relating to arrest and life-threatening threats making up the biggest proportion of the total. In January, over twenty-one thousand people were victims of fraud and other scams. The highest numbers of victims were young women, accounting for 75% of all victims.
The scams that affected Australians have grown more sophisticated. The amount lost to scams in January has risen by over 33 percent since January 2016. The most damaging types of scams in January were investment-related, costing over AU$21 million. This is more than double what Australians lost in the same month in 2021.
Nearly $34 million was scammed in January
Australians lost nearly $34 million in total to scams. This is almost five times higher than the amount lost by men and women in December. According to the same survey, the amount lost by women was $18 million. However, men lost an average of $15.8 million. These figures serve to show that scams have become more advanced and sophisticated.
Dating and romance scams still high
The overall number of reports involving dating and romance scams is still very high. About 40% of these reports involved the loss of money. Most of these scams took place through social media and dating websites. In fact, they were the most popular in New South Wales, with the highest number of reports. And, the older a person is, the more likely he or she is to fall victim to a scam. For example, Australians aged over 65 have reported a total of AU$17 million in scams, while Victorians have lost over $24 million.
The ACCC has created an online platform called Scamwatch, which allows victims to report any scams they’ve experienced. The ACCC keeps an updated database of all types of scams and the number of victims has been rising. These reports show that while the Internet presents huge opportunities, it is also one of the riskiest places to channel your money for various investments. In other words, it is the home of scammers.
Even as governments do their best to report and crackdown on scammers, they will continue to grow, and scammers will continue to be more active than ever. This is why we at Scam Help advise that you stay vigilant. Scammers can steal your identity and money when you least expect, so be vigilant and protect yourself. Consider updating your passwords and keeping track of your money at all times.
If you have lost funds to scammers in Australia, please note that Scam Help can work with you to explore your chances of recovering your funds. You will never be required to commit unless there is a high likelihood of recovering the funds. Start with this FREE CONSULTATION.
Finally, keep it safe by keeping up with the latest updates and news on scams across Europe and the rest of the world.