A triple C [ACCC] says fraud is now becoming more sophisticated and harder to recognise, and as a result of that.
eat victims with significant losses such as their life savings.
People aged 65 and over made the most reports to Scamwatch last year — as well as reporting the highest losses.
More than 500 thousand reports of fraud were received last year — for a staggering total loss of 3.1 billion dollars.
That's an 80 percent increase over the total losses recorded in 2021. The
most common type of fraud is related to investments, accounting for financial losses of 1.5 billion dollars.
Other types of scams in the top five include remote access, payment redirection, romance, and also stealing data through malware sent by email or text message.
