Australians misplaced almost $319 million final yr to tons of of 1000’s of scams, with funding scams probably the most financially damaging.
The Australian Competitors and Shopper Fee’s (ACCC) Scamwatch has printed its December figures, offering a full image of the impression scams reported to the patron watchdog’s service had in 2024.
Scamwatch heard of greater than $318.7 million in reported losses, with 249,448 rip-off complaints.
The full amount of cash misplaced was lower than in 2023, when Australians misplaced over $476 million to scams. There have been 301,765 rip-off reviews that very same yr.
So, how had been Australians scammed in 2024?
How did scammers make contact?
E-mail was the commonest means scammers contacted folks (90,819 scams) adopted by textual content message (77,365) and telephone calls (41,742).
What scams resulted within the greatest monetary losses?
Funding, romance and phishing scams had been chargeable for the majority of the cash misplaced however funding scams had been probably the most damaging and claimed over $192.3 million of the full cash misplaced.
Romance and relationship scams had been chargeable for over $23.5 million misplaced and phishing claimed over $20.5 million.
The median quantity misplaced to funding scams was $9,500; to romance scams, $1,609.66; and to relationship scams, $2,154.53.
Different scams to be careful for
False billing, threats and extortion, employment, ID theft, IT assist, inheritance and classifieds scams had been within the prime ten reported scams of 2024.
They resulted in monetary losses totalling $69.3 million.
The victims
Total, males fell sufferer to extra scams and misplaced extra money than girls, based on Scamwatch.
Males misplaced over $117.1 million to funding scams whereas girls misplaced greater than $72.7 million.
Individuals over the age of 65 had been worst affected financially, with a $1,000 median loss recorded for that demographic.
Individuals aged 55 to 64 years outdated adopted, with the recorded median loss $600.
The pink flags
Scamwatch says there are widespread ‘pink flags’ that may assist folks spot scams.
These embody claims of “wonderful” alternatives to make or lower your expenses, somebody you have not met says they want your assist or cash, messages include hyperlinks or attachments and you are feeling pressured to behave rapidly.
Earlier this month, the Nationwide Anti-Rip-off Centre launched a brand new marketing campaign to lift consciousness on find out how to keep away from scams.
The marketing campaign recommends that Australians cease earlier than handing cash or private info over in the event that they really feel not sure, ask themselves if the decision or message could possibly be pretend and act rapidly by contacting their financial institution if they think they could have been scammed.
ACCC Deputy Chair Catriona Lowe stated on the time of the marketing campaign’s launch that it reminds Australians they’re “not powerless to scammers”.
“After we’re alert, we’re in management. And by stopping and checking after we’re not sure, then reporting scams we’ve seen, we will shield ourselves and others in opposition to monetary hurt,” she stated.
