Australians lost a record $3.1 billion to scams in 2022. This is an 80 % increase in total losses recorded in 2021.
The report compiles data reported to the ACCC’s Scamwatch, ReportCyber, the Australian Financial Crimes Exchange (AFCX), IDCARE, and other government agencies.
It shows that investment scams were the highest loss category ($1.5 billion), followed by remote access scams ($229 million) and payment redirection scams ($224 million).
“Australians lost more money to scams than ever before in 2022, but the true cost of scams is much more than a dollar figure as they also cause emotional distress to victims, their families, and businesses,” ACCC Deputy Chair Catriona Lowe said.
“As scammers become increasingly sophisticated in their tactics, it is clear a coordinated response across government, law enforcement, and the private sector is essential to combat scams more effectively.”
“That’s why we continue to lend our expertise and support to prepare for the establishment of the Government’s National Anti-Scam Centre, with the ultimate aim of making Australia the hardest target for scammers,” Ms Lowe said.
