The latest Targeting scams report has revealed Australians lost a record $3.1 billion to scams in 2022, as government, law enforcement and the private sector look to improve collaborative efforts to support the community in the fight against scams. This is an 80 per cent increase on total losses recorded in 2021.

The report compiles data reported to the ACCC’s Scamwatch, ReportCyber, the Australian Financial Crimes Exchange (AFCX), IDCARE and other government agencies.

It shows that investment scams were the highest loss category ($1.5 billion), followed by remote access scams ($229 million) and payment redirection scams ($224 million).