$435 Million Lost to Scams in Australia in 2019

[mlawson71]

The Australian Competition and Consumer commission publishes data every year about how much have Australians lost to scams and they finally published the data for last year.  According to that data, Australian citizens have lost a whopping $435.2 million (AUD $624 million) to scams.

The data was gathered by several different organizations - Scamwatch, ANZ, Commonwealth Bank, NAB, Westpac and others.

The losses for 2019 are 34% more than the losses in 2018, which were AUD $489 million. That said, last year there were 5% fewer scam reports than they were in 2018. Out of the $634 million Australians lost a shocking $126 million to investment scams alone, which is a 59% increase compared to investment scam losses for 2018, unfortunately.

Source

I cannot imagine how bad the report for 2020 will be, considering the already existing upward trend and the pandemic this year, which will undoubtedly make this worse.

[Burinis]

It looks scary, but this is reality, so sometimes it happens...

[Kataxe]

I think it's financial security that should be a priority for the government and economic well-being. 

[EVAN]

Not surprising, especially considering that people go crazy when everything seems to be for free, and you need to use only proven platforms for shopping, games, etc.

[chachaflint]

Good afternoon! I would also recommend reading about other Australian online casinos. I cannot say I am a pro in this field but I play at weekend with my friend for fun and we use those casinos. Remember, you will never win a lot of money without losing it. Play for pleasure.