Australia to cop $4 billion scam loss in 2022, according to ScamWatch

Aussies are set to lose an astonishing amount to annoying scam texts in 2022, with the figure dramatically rising from 2021.

Australians are expected to lose $4 billion to scams in 2022, according to recent findings by the Australian Competition and Consumer Commission.

Losses reported to the Australian Competition and Consumer Commission’s Scamwatch have doubled since last year.

Scamwatch has received over 146,700 reports totalling more than $381.2 million as of August 31.

The top three most reported scams in Australia were phishing, false-billing and online shopping.

Assistant Treasurer Stephen Jones said online scammers were viewing Aussies as an “easy target”, with data showing millions in losses from seniors being duped into bogus schemes.

“Most Australians are connected to the internet and use a mobile phone and they’re relatively wealthy, which creates a honey pot for scammers here and internationally,” he said via the Courier Mail.

“And our systems are relatively weak.

“We are only seeing the tip of the iceberg, but we know it’s much bigger.”

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As many as 15 million Australians have reported receiving text message or email scams this year.

Mr Jones said the government is prepared to work with banks and telecommunications companies to better identify and shut down the scams as they emerge.

“This means moving quickly when we see something in the system, putting flags in the banking system and take down notices for social media platforms,” he said, mentioning the government’s $10m investment to establish a National Anti-Scam Centre.

“Australians enduring cost of living problems can’t afford to be losing $4bn a year to economic criminals,” he said.

The new findings came after Australia’s consumer watchdog flagged an alarming spike in an elaborate scam that even the most clued-in Australian are falling for.

Text scams pretending to be Australian toll operator Linkt chasing up unpaid tolls have fleeced thousands of Australians of more than $180,000 since it came on the scene in March this year.

But according to the Australian Competition and Consumer Commission, reports have spiked in the two weeks between October 2 and 16.

Some victims have reported a prompt warning of a sizeable overdue fee if not paid in a few days. Once the details have been entered – the scammers have all the details they need to make transactions using your card information.

A flurry of Australians, some of who perhaps break the mould of common scam victims, have taken to social media to warn outers of the elaborate and convincing scam.

Caption: A fake text purporting to be from Medicare. Source: Services Australia

Recent data showed Victorians lost more than $4m to scams in less than five months, as scammers become more savvy at stealing personal data over the phone.

Police have received more than 150 reports of remote access scams – totalling $4.18m in theft – since July this year.

“Remote access scams are one of the fastest-growing scam types in Australia,” Detective Sergeant John Cheyne said.

Victims typically receive an unexpected call from someone pretending to be an employee of companies like Amazon, Apple or major banks.

If you’re unsure whether the call is a scammer or not, first hang up the phone.

Then call the company back using the contact numbers provided on their website to validate if the request is real.

If you believe you have been scammed, you can contact police or report it online at ReportCyber or ScamWatch.

Anyone with knowledge of these incidents and those responsible is urged to contact Crime Stoppers on 1800 333 000 or submit a confidential crime report at www.crimestoppers.com.au.