In this age of artificial intelligence and rapid advances in technology, scammers are getting ever more advanced and skilled at taking our money.
While the vulnerable are often targeted, people who normally consider themselves tech savvy and financially literate are also slipping through the cracks and losing sizable amounts of money.
In the first nine months of 2023, Australians lost $398 million to scams, $241 million of which was in investment scams. That was a 9% increase on the first nine months of 2022.
The Australian Financial Complaints Authority (AFCA) also reported an almost doubling in scam-related complaints between 2022 and 2023. AFCA registered 8,987 complaints related to scams, an increase of 95% from 2022.
