Australians Experienced 34 Percent Increase in Scams in 2019
Australians reported 167,797 scams to the Australian Competition and Consumer Commission (ACCC)-controlled Scamwatch in 2019, a 34 percent increase over the year prior. The financial impact in 2019 to Australians was just over $634 million (in Australian dollars). The greatest losses in 2019 by type of scam were: $132 million to business email compromise (BEC) scams, $126 million to investment scams, and $83 million lost to dating and romance scams.