$2.5 billion lost over a decade: ‘Nigerian princes’ lose their sheen, but scams are on the rise
Cassandra Cross · 2020
Last year, Australians reported more than A$634 million lost to fraud, a significant jump from $489.7 million the year before. The Australian Competition and Consumer Commission (ACCC) has released its latest annual Targeting Scams report. But despite increased awareness, scam alerts and targeted education campaigns, more Australians are being targeted than ever before. With all the technological tools we have, why does fraud continue to be so pervasive? And how can the damage be reduced?