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- PAUL HASKELL-DOWLAND
Greed, desire, wishful thinking and naivety are lucrative markets for scam artists – and their age-old hustles are increasingly being supplemented by digital chicanery.
In 2021 Australians lost an estimated $A2 billion to fraudsters, more than double that of 2020, according to the Australian Competition and Consumer Commission.
PICTURE: Lindsey LaMont/Unsplash
The consumer watchdog’s latest scam report details more than 20 different scam types, primarily based on reports made to its Scamwatch agency.
Some scams are perennials. Topping Scamwatch’s list are investment scams, dating and romance scams, false billing, remote access scams (convincing you to allow access to your computer or phone), and threats or blackmail.
This article is going to focus on the five scam types that have grown most in value from 2020.
These aren’t necessarily the scams anyone (including you) is most likely to fall for. But they provide a useful snapshot of how scam techniques that rely on human nature are increasingly being executed via technology.
1. Ransomware and malware
This type of scam has been on the wane due to the use of anti-malware protection. But in 2021 it roared back with a 1,482 per cent rise in reported losses over 2020.
This was mostly due to 2020 numbers being much lower than 2019, but the reported costs per incident (about $A21,704) are still worrying given how easily such scams can be spread.
They typically involve…
