In 2018, people submitted 177,516 reports of scams to the Australian Competition and Consumer Commission.
The losses incurred by these people totalled $107,025,301.
Many people do not report scams as they may feel they are to blame or that the police cannot catch the scammers, so the real level of scamming losses is likely to be much higher than the quoted figure.
The highest number of losses occur through phishing i.e. people conning you into giving them your personal details such as login and password or card payment details, bank account etc.
‘Threats to life, arrest or other’ covers a lot of scams e.g. the scammer phones you pretending to be from a government department and demands an immediate payment.
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