ACCC ‘Targeting Scams’ report highlights 13% increased risk of being scammed.

Last week the ACCC released its ninth annual ‘Targeting scams’ report. Providing great insight into the scale of losses and trends around the different types of scams.

Scamwatch received over 200,000 reports in 2017, with $340M in combined financial losses to scams, highlighting the scale of the risk everyone is facing. This represents a 13% increase from last year.

Scams via email, social media, mobile apps and internet represented 42% of all reports, with email phishing scams the most used method – 26,386 reports.

Education and awareness remain the most important elements of defence against scams, but also considering the right insurance protection including cyber crime insurance is vital.

For more 2017 stats and trends, you can access the report at:
https://www.accc.gov.au/publications/targeting-scams-report-on-scam-activity/targeting-scams-report-of-the-accc-on-scam-activity-2017

The ACCC provide a very good reference point to keep up to date about scams, with the website offering a ‘Subscribe Now’ function to allow you to keep up to date.
https://www.scamwatch.gov.au/

If you are aware of a scam the ACC encourages you to report it at:
https://www.scamwatch.gov.au/report-a-scam