UPDATE
Scams increase by more than 50% in August as Australians in lockdown are hit hard by identity theft By MySecurity Media Courtesy of Proofpoint
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ustralians reported 40,891 scams to the Australian Competition & Consumer Commission’s (ACCC) Scamwatch in August 2021, a significant increase of more than 50% compared to the previous month, and nearly double the amount reported in August 2020. Australians lost a combined $26.5 million to all types of scams last month, more than double the amount lost the same month a year ago. Australians have now lost more money to scams in the first eight months of the year than in the entire 12 months last year – $192 million year-to-date vs $175 million lost in 2020.
IDENTITY THEFT SCAMS SOAR Identity theft scams saw Australians lose more than $2.2 million in August, a staggering increase of more than 500% over the $352,590 lost in July, and over 700% compared to the $251,750 lost in August 2020 to this type of scam. Australians aged 45 to 54 were most financially impacted by these scams, losing more than half a million dollars, followed by Australians aged 25 to 34. Consistent with previous months, investment scams continue to be the most financially damaging type of scam,
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with Australians reporting losses of more than $12.3 million. Dating and romance scams followed, amassing losses of more than $4.3 million in August. Notably, the amount lost to health and medical product scams increased by 15 times over from July as the national COVID-19 vaccine roll out continued. Phishing scams again accounted for the greatest number of reports at 11,060, a significant increase of 162% compared to August 2020 and up 75% from July. Text messaging was the most popular delivery method for phishing scams, accounting for half of all reports. Scams relating to threats to life or arrest also rose by 29% while ransomware and malware scams were up more than 200% compared to July.
AUSTRALIANS IN LOCKDOWN HIT HARDEST NSW residents continue to be the most financially impacted by scams as COVID-19 lockdowns continue. NSW residents suffered financial losses of almost $11 million, while the number of scams reported to the ACCC increased by 52% compared to July. Meanwhile Victorians reported a 65% spike in scams compared to the previous month and suffered losses of more than $6 million.
