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Australians expected to lose an eye-watering $4 billion to scams this year 

Peter Fegan
Article image for Australians expected to lose an eye-watering $4 billion to scams this year 

The federal government is today warning that by the end of the year, Australians will have lost around $4 billion to scams in 2022.

Financial Services Minister Stephen Jones this morning said families are at risk of falling prey to a raft of scams, including phishing and online shopping stings.

Press PLAY below to hear the common scams Aussies are falling for 

“At a time when Australians are already struggling with cost of living increases, this will hit them out of the park,” Mr Jones said.

The government says it’s working with major banks and telecommunication companies to improve consumer protection but families and businesses should also remain vigilant.

“The number one thing that we can be doing is to raise awareness and improve protections for families and businesses.”

 

Image: Getty 

Peter Fegan
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