Scams target individuals of all backgrounds, ages, and income levels. They are modern day fraudsters trying to steal your money or personal information.
Scams are usually done by phone, SMS, or email. They look and sound very real, hoping to convince the victim to take the bait. What scammers do is they contact thousands of email addresses every day, pitching their offer or spiel. There’s a good chance that you have been contacted by a scammer at one point.
Every year, scams cost Australians millions of dollars and cause considerable harm, especially for businesses. Australian businesses reported more than $14 million in losses due to payment redirection alone scams last year. In 2019, Australians lost over $634 million to scams. The average losses so far this year are more than five times higher compared to average losses in the same period last year.