Australians lose $300 million to scams

con manAustralians lost $300 million to scams in 2016, up 47% from the previous year, according to the Australian Competition and Consumer Commission and the Australian Cybercrime Online Reporting Network.

More than 200,000 complaints were filed. The greatest losses, $59 million, came from investment scams, followed by $42 million in losses from romance scams.

One third of romance scams victims met the con artist through a social media platform.

Australians report losses of $300 million to scams in 2016, on

$300 million lost in online scams as they reach record levels in Australia, on


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200,000 complaints are alot of complaints!

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