Scams and fraud accounted for $14.5 million (87%) of the total financial loss reported in 2019.
Of that loss:
Almost $5 million was lost to unauthorised or falsified money transactions.
Over $4 million was lost to scams when buying, selling or donating goods online.
Almost $3.6 million was lost when asked to pay money upfront (e.g. invoice scam).
Online scams have become very sophisticated and convincing. Victims often don’t report incidents due to feelings of shame/embarrassment, or a desire to protect reputation. The figures in this report will only be the tip of the iceberg: Read more or contact us for scam awareness training.