Scams Archives - Page 7 of 14 - Consumers' Federation of Australia

25 July , 2023

9 Out of 10 People Have Encountered a Scam in the Last 12 Months

New research from CHOICE has revealed 9 in 10 people suspect they have encountered at least one scam in the past 12 months, with over half of respondents encountering a suspected scam every week.

“Scams are increasing rapidly throughout Australia, often creating significant distress and financial hardship for victims. New technological advances mean scams are also becoming more difficult to identify. Our research found 88% of people say scams have become more sophisticated or harder to spot recently,” says CHOICE CEO Alan Kirkland.

4 July , 2023

National Anti-Scam Centre’s First Fusion Cell to Disrupt Investment Scams

Original media release from the ACCC, 03/07/2023. The National Anti-Scam Centre will coordinate an investment scam fusion cell to combat the growing problem of investment scams, which are costing Australians more than $1 billion a year. The fusion cell will be led by the ACCC and ASIC and include representatives from the banks, telecommunications industry…

30 June , 2023

ACMA Names Consumer Protections a Priority for 2023-24

Minimising gambling harm, combating SMS scams, tackling online supply of dodgy devices and enforcing spam unsubscribe rules have been identified as some of the key compliance priorities for the Australian Communications and Media Authority (ACMA) in 2023–24.

7 June , 2023

SMS and Bank Impersonation Fraud – What you need to know to avoid being scammed

Fraudsters are impersonating banks over SMS and phone calls, creating elaborate scams that are difficult to spot

Vulnerabilities in SMS and phone networks currently allow the scams to flourish, but experts say a new registry will help close these loopholes

In the meantime, consumers are urged to watch out for messages and calls from their bank urgently asking them to transfer money

Image 15 May , 2023

National Anti-Scam Centre Welcomed by ACCCC and CHOICE

The Australian Competition and Consumer Commission (ACCC) and CHOICE, along with other consumer advocacy organisations, have welcomed the Australian Governments commitment of $58 million for the establishment and running of the National Anti-Scam Centre (NASC) to be implemented over the next two years.

Image 28 April , 2023

Federal Government to Act on Disrupting Illegal Text Message Scams

The Albanese Government has announced its intent to establish an SMS sender ID Registry or SMS Scam registry to help combat the increasingly large number of scam text messages being sent to Australians. From the 23/04/23 media release from the Minister for Communications, Hon Michelle Rowland MP: Almost half of all Australians have been scammed,…

Image 26 April , 2023

ASIC Report says Australian Banks are Failing Customers

Australia’s four major banks are failing their customers by taking a ‘variable and…less mature’ approach to scams than expected, with ‘inconsistent and narrow approaches to determining liability’ as well as gaps in how they detect and stop scam payments, according to Report 761 today from the Australian Securities and Investment Commission (ASIC).

Image 19 April , 2023

ACCC Calls for United Front as Scammers Steal Over $3bn from Australians

The Australian Competition and Consumer Commission (ACCC) has just released its 2022 Targeting Scams report in which it found an 80% increase in total losses compared to 2021. Using data from regulators and government agencies, the report highlights the need for further collaboration between government bodies, banks, regulators, telcos, and digital platforms to close “significant…

11 November , 2022

ACCC calls for new competition and consumer laws for digital platforms

The ACCC has recommended a range of new measures to address harms from digital platforms to Australian consumers, small businesses and competition. The fifth report of the ACCC’s five-year Digital Platform Services Inquiry has proposed that platforms be subject to mandatory dispute resolution processes and stronger requirements for combating scams, harmful apps and fake reviews,…

10 November , 2022

Westjustice & Scope Launch Easy English Scams Guide

This ‘Scams Awareness Week’, Westjustice and Scope are excited to launch this Easy English guide on avoiding scams. You can find the guide here. ‘Easy English’ or accessible written information is a simple and concise style of writing and images to explain certain concepts. Easy English can help everyone, including people with intellectual disabilities, people…

7 November , 2022

Scams Awareness Week 2022 empowers Australians to spot a scam

Australians are being urged to learn how to spot a scam this national Scams Awareness Week (7-11 November) after combined losses of over $2 billion reported last year to Scamwatch, the government and the financial sector. This year combined losses might reach $4 billion as losses reported to Scamwatch are already significantly higher than 2021.…

26 October , 2022

Consumer Affairs Ministers meet in Adelaide in September 2022

The recent Commonwealth, State and Territory Consumer Affairs Ministers meeting in Adelaide saw a renewed commitment to collaboration across borders and to strengthen consumer protections. Ministers attending the meeting, chaired by South Australian Minister for Consumer Affairs Andrea Michaels, discussed and agreed on priorities for future work, which include: legislation to make unfair contract terms…