Scams

lecture, meeting, strategy-2152939.jpg lecture, meeting, strategy-2152939.jpg

Today the Albanese Government will join a cutting?edge intel exchange between Australian banks, telecommunications companies, digital platforms, and the Australian Financial Crimes Exchange (AFCX). The National Anti Scam Centre will join the AFCX intel loop, which enables near real time data sharing between participants about the latest tactics and tools used by scammers. The partnership…

Read More Government Joins Cutting Edge Anti-Scam Intel Exchange

fraud prevention, scam, corruption-3188092.jpg fraud prevention, scam, corruption-3188092.jpg

Consumers are being warned to beware of anyone instructing them to download software or an app over the phone, following a recent rise in reported losses to remote access scams. Australians reported losing $15.5 million to remote access scams in 2023. Reported losses to remote access scams in the first quarter of 2024 increased by…

Read More Scammers Claiming to Fix Technical Issues in ‘Remote Access Scams’

fraud prevention, scam, corruption-3188092.jpg fraud prevention, scam, corruption-3188092.jpg

A survey of 280 scam victims by consumer group CHOICE has found they are left carrying the burden of scams after big businesses like telcos, tech platforms and banks fail to step up and protect them. 61% of respondents said they had lost confidence in doing financial transactions online. The survey results, detailed in CHOICE’s…

Read More Passing the Buck: Scam Victims Carrying Unfair Burden

announce, marketing, attention-3192838.jpg announce, marketing, attention-3192838.jpg

The industry codes will start with banks, telcos, social media, digital messaging and search advertising services, and will require these groups to have measures in place to prevent, detect, disrupt, respond and report scams.

This will be complemented by strong regulator enforcement action, penalties for non?compliance, and victim compensation where wrongdoing occurs.

Read More Albanese Government to Introduce Mandatory Anti-Scam Industry Codes

accounting, finance, business-6063321.jpg accounting, finance, business-6063321.jpg

Consumers generate data in almost all aspects of their lives as many activities that were once anonymous are now subject to detailed data collection, such as restaurants that require customers to order via a QR code and input personal details. The latest Digital Platform Services Inquiry report published today, highlights that consumers are generally unaware how much…

Read More Latest ACCC report finds consumers lack visibility and choice over data collection practices

fraud prevention, scam, corruption-3188092.jpg fraud prevention, scam, corruption-3188092.jpg

ASIC is warning consumers about an increase in the sophistication of fake bond and term deposit scams where scammers are impersonating little-known legitimate financial services businesses, often those without a website or digital footprint. Scammers are mirroring real businesses’ disclosure documents, addresses, International Securities Identification Numbers (ISINs), Australian business numbers (ABNs) and Australian financial services…

Read More Scam Alert Issued by ASIC as Scammers Change Methods

A person's hands typing on a mobile phone

The National Anti-Scam Centre’s collaborative efforts across government, law enforcement, consumer organisations and industry have boosted the community’s fight against financial crime, as the latest Targeting Scams report reveals a 13.1 per cent decline in reported losses to $2.74 billion in 2023. The report compiles data reported to Scamwatch, ReportCyber, the Australian Financial Crimes Exchange (AFCX), IDCARE…

Read More Scam Losses Fall But A Long Road Ahead

Post thumbnail

This year’s Ruby Hutchison Memorial lecture shone a light on just how much the consumer protection movement together with regulators has achieved in the last 50 years, and the complex consumer issues we’re still seeking answers to today. Bringing in a musical theme and recognising the rockstar influence of the speakers, the ACCC Deputy Chair…

Read More The 2024 Ruby Hutchison Memorial Lecture – 50 Years of Consumer Advocacy

phishing, scam, website-7100899.jpg phishing, scam, website-7100899.jpg

Australians are being urged to check payment details directly with a business before paying an emailed invoice, following a rise in losses to payment redirection scams. Last year, Australians reported losing $16.2 million to payment redirection scams. Despite the total number of reports to Scamwatch decreasing by 28 per cent, the total amount lost increased…

Read More ACCC Warns Consumers of Fake Business Invoice Scams

social media, marketing, facebook-6134993.jpg social media, marketing, facebook-6134993.jpg

Original media release by and from CHOICE (13/03/2024). Big tech responsible for big losses: 249% increase in social media scam losses since 2020 CHOICE calls for strong rules to force digital platforms to rein in scams Consumer group CHOICE is demanding urgent government action to force digital platforms to prevent scam losses, after the National…

Read More Digital Platforms Need to Take Responsibility, CHOICE Urges Government Action