Australians were taken for a ride to the tune of $300m in 2016

The number of people reporting scam activity in Australia was at record levels in 2016 according to the Australian Competition and Consumer Commission’s annual Targeting Scams report, with a 47 per cent increase in scam reports to the ACCC compared to 2015.

Losses reported to Scamwatch, ACORN and other scam disruption programs totalled $299.8 million.

Interesting notes from the data:

  • Even split between phone and online orientated scams.
  • Of the online scams the majority are initiated via email.
  • 45% of those scammed were over 55.
  • Scams revolving dating/romance and investments accounted for the majority of the $300m.

The ACCC’s full infographic embedded below:

Source: Australians lost nearly $300 million to scams in 2016 | ACCC

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