• Aussies lose over $2.74 billion in scams last year

  • Sep 16 2024
  • Length: 11 mins
  • Podcast

Aussies lose over $2.74 billion in scams last year

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  • Summary

  • The Federal Government has released a new Scams Prevention Framework for public consultation.

    Mike speaks with Professor Asha Rao, a cybersecurity expert at RMIT, who highlights that Australians lost over $3B to scams in 2022, with over 600,000 scams reported in 2023, up 18.5% from the previous year.

    Scammers are becoming more sophisticated, particularly targeting demographics.

    While Australians are improving at spotting scams, fraud through bank transfers remains a significant issue.

    Professor Rao supports the proposed legislation requiring banks, telcos, and tech giants to collaborate in reducing scams, viewing it as a crucial step toward stronger regulation and increased safety.

    See omnystudio.com/listener for privacy information.
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