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Losses and top scams for 2024

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Losses

Total combined losses reported to Scamwatch, ReportCyber, IDCARE, Australian Financial Crimes Exchange (AFCX) and Australian Securities and Investment Commission (ASIC): $2.03 billion (a decrease of 25.9%)

494,732 scam reports (a decrease of 17.8%)

Combined losses over last 5 years

2020: $0.9 billion

2021: $1.8 billion

2022: $3.1 billion

2023: $2.7 billion

2024: $2.0 billion

Top 5 scams by loss 2024 (combined data)

  • Investment: $945 million
  • Romance: $156.8 million
  • Payment redirection: $152.6 million
  • Remote access: $106 million
  • Phishing: $84.5 million

The losses from the top 5 scam types accounted for 71% of total losses in 2024.

Top 5 scams by loss 2023 (combined data)

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

The losses from the top 5 scam types accounted for 74% of total losses in 2023.

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