May 18, 2015
The Australian Competition and Consumer Commission’s latest Targeting Scams Report, released today, shows that 91,637 Australians scam complaints were made to the ACCC last year, with more than $81 million reported lost.
“The ACCC is urging consumers to ‘Get smarter with their data’ as stolen personal information underpins almost every scam reported,” ACCC Deputy Chair Delia Rickard said.
“Scammers are stealing not only your money but also your data, which they then use to commit identity theft or to sell to other scammers.
“Your personal data is a valued commodity – and one that you cannot put too high a price on when it comes to protecting it. Unfortunately, scammers also recognise the value of your personal information and will go to great lengths to steal it.”
In 2014, online dating scams remained the number one scam for financial losses with almost $28 million reported lost, despite making up only 3 per cent of all scam reports.
The next highest reported losses were investment fraud and computer prediction software scams, both of which are often dressed up as legitimate investment opportunities.
These two scams accounted for 26 per cent of reported losses and more than $21 million dollars lost.
“Increasingly, scammers are using personal information gleaned from social media profiles to target victims for a fraudulent relationship or investment,” Ms Rickard said.
“Scammers are constantly ‘phishing’ for your personal details such as your name, address and birth date and this will only increase as your personal data becomes more valuable to them.
“Get smarter with your data and keep it out of the hands of scammers.”
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SCAMwatch tips:
- Keep your personal details secure: Lock your mailbox, and shred your bills and other important documents before throwing out. Be careful sharing information about yourself online, including social media, blogs and other online forums.
- Think twice about what you say and do in an online environment: Stop and think before filling in surveys, entering competitions, clicking on links or attachments, or even ‘befriending’, ‘liking’ or ‘sharing’ something.
- Keep your mobile devices and computers secure: Always use password protection, don’t share access with others (including remotely), update security software and back up content. Protect your Wi-Fi network with a password and avoid using public computers or Wi-Fi hotspots to access online banking or provide personal information.
- Choose your passwords carefully: A strong password should include a mix of upper and lower case letters, numbers and symbols.
- Don’t use the same password for every account/profile, and don’t share your passwords with anyone.
- Beware of any request for your details or money: Use the phone book or an online search to check the organisation’s contact details. NEVER use the contact details provided in the original request.
- Get a copy of your credit report: You can get a free copy of your report every year to check that no one is using your name to borrow money or run up debts.
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