The main problems that cause the most financial loss to Australians are investment fraud and romance scams.
Investment scams topped the list, with $328 million in losses – more than a third of the total loss. Romance scams came next, with a lonely heart losing $131 million.
The A-Triple-C report uses data from 444,000 reports obtained from Scamwatch, ReportCyber, government agencies, 10 banks, and financial intermediaries.
Experts like Delia Rickard warn that the tactics used to deceive victims are becoming increasingly sophisticated.
