General News
19 February, 2024
Residents warned of scammers as Australians lose $500m in 2023
Residents have been cautioned to remain vigilant of impersonation scams after nearly $500 million was taken from Australians in 2023. The impersonation scams which inflicted the most financial harm last year were dating and romance scams ($34...
Residents have been cautioned to remain vigilant of impersonation scams after nearly $500 million was taken from Australians in 2023.
The impersonation scams which inflicted the most financial harm last year were dating and romance scams ($34 million), false billing ($27 million) and job and employment scams ($24 million) according to Scamwatch.
Community members aged 55 and over contributed to nearly half of the money lost in 2023, with over $221 million being taken by scammers.
Scammers often implement a phishing attack through a phone call, social media or an email, which is an attempt to gain personal information such as passwords, codes and account details.
Head of fraud for Bendigo Bank Jason Gordon said customers need to be watchful for scammers spoofing recognised brands.
“Spoofing is when phone calls appear to come from legitimate numbers and SMS messages appear in the same conversation thread as genuine communications, making it very difficult for people to detect genuine communications. That’s why its so important that customers take extra precautions and be aware of signs of a scam,” he said.
“Bank impersonation scams really erode the trust in bank communications, making it difficult for us to contact our customers when we need to, and they are putting pressure on our customers to try to discern what’s real and what’s a scam.
“We’re reminding customers about the importance of staying vigilant and informed. We encourage everyone to be cautious and verify the legitimacy of any communication, especially when it involves their bank and their finances.”
Mr Gordon said scammers are constantly adapting their strategies to nullify security measures and build more believable schemes, making everyone a possible victim.
“Criminals are getting adept at carefully constructing often complex communications that convincingly mirror those of the brand they are impersonating,” he said.
“Please remember the bank will never ask for your details, or to transfer money, download software or login via a link sent through email or SMS.”
Scamwatch advises community members to never give money or personal information to anyone if you are unsure or if there is a sense of urgency in a message, to question if a message is fake if it has a link or unusual wording and to act quickly if something feels wrong.
For more information, visit www.scamwatch.gov.au