TRANSCRIPT:
As a graphic designer, Julian always believed he was digitally savvy enough to avoid scams - until he was tricked.
"I've been going through a period of bad mental health. During that time, I've gotten behind in filing taxes. When the call came, it says the A-T-O is going to prosecute you for not filing tax returns. And that there had to be money today to show good faith."
Julian says his scammer was a master of psychological manipulation - using his shame to lure him buying gift cards to show his good faith.
They also kept Julian talking to them over the phone, to ensure he completed the payment without thinking about it.
He found out it was a scam when it was too late.
"It took five minutes for me to call the A-T-O and confirm what the scammers say is false."
Now, Julian has joined the Australian Competition and Consumer Commission - or the A-Triple-C - to alert fellow Australians of scam threats.
"If you are in a heightened emotional state in the financial situation like that, give yourself five minutes, to stop, check and protect yourself."
Julian's message comes as the national consumer watchdog has released a new report on Australians reporting scams.
It shows that while the number of reports of scams are down compared to last year, there was a 40.5 per cent increase of reports that involve financial losses.
And the number is higher among two demographic groups, according to A-triple-C Deputy Chair Catriona Lowe.
"For culturally and linguistically diverse Australians, that number was 44 per cent increase in reports involving losses, and for First Nations Australians it's 55.3 per cent."
Ms Lowe says online shopping is the most common type of scam, and they are getting more sophisticated.
"Gone are the days we could look for the obvious spelling errors or the very, very basic website, we are seeing highly sophisticated spoof websites, very good fake advertisements and some pretty convincing impersonations."
Phishing, which refers to scammers deceive a person into giving their personal information, is another type of the most common scams, and it's caused $19.5 million in financial losses so far.
Professor Jeannie Patterson specialises in consumer laws and A-I at Melbourne Law School.
She says artificial intelligence is becoming the power behind scams, including technologies such as deepfakes.
"The scams are also getting better at pushing our buttons, making us anxious or emotional in some ways. When people's emotion is heightened, their judgment, their learning and all resources they have been exposed to earlier go out of the window."
Simon Birmingham is the chief executive of the Australian Banking Association.
He says banks have been investing in A-I tools to identify and disrupt scams.
But he also says it's important that consumers remain alert in the wake of evolving technology and new tricks.
"This is an ongoing battle, and it's not going to be solved by anyone single silver bullet. It's about a coordinated effort; banks doing their bit to invest in new technology, regulators doing their bits to try to catch, and prosecute those doing the wrong thing, but consumers doing their bit to keep themselves safe."
