Latest report

Infographic

Infographic showing losses, combined losses over last 4 years, top 5 scams by loss (combined data), successful scam disruption pilots.

Infographic text

Losses

Total combined losses reported to Scamwatch, ReportCyber, IDCARE, Australian Financial Crimes Exchange (AFCX) and Australian Securities and Investments Commission (ASIC): $2.74 billion

601,000+ scam reports (an increase of 18.5%)

Combined losses over last 4 years

2020: $851 million

2021: $1.8 billion

2022: $3.1 billion

2023: $2.7 billion

Top 5 scams by loss (combined data)

  • Investment scams: $1.3 billion
  • Remote access: $256 million
  • Romance: $201.1 million
  • Phishing: $137.4 million
  • Payment redirection: $91.6 million

Successful scam disruption pilots

Government, law enforcement, banks, telcos and digital platforms contributed to:

Sharing data and intel

  • Data sharing of scam phone numbers and bank accounts to disrupt scams
  • Banks using data and intel to enhance detection

Scam websites and ads

  • Over 3,500 investment scam websites taken down

Scam diversion and victim support

  • Diverting victims who call scam numbers to warnings and assistance
  • Automatic referral of scam victims to IDCARE

Scam payments

  • Stopping payments to crypto exchanges used by scammers
  • Stopping scam transactions through added frictions
  • First bank payee verification

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