Australians Fall Victim to Scams, Losing AUD $175 Million as Cyber Threats Surge
With Scam Awareness Week underway across Australia, experts are raising alarms about the increasing threat of online fraud and scams. They urge both consumers and businesses to strengthen their defences against the evolving tactics of criminals. Recent data from the National Anti-Scam Centre indicates the severity of the situation, with Australians reporting over 108,000 scams in the first half of 2025, resulting in financial losses of approximately AUD $175 million. Martyna Lazar, Head of Risk for Visa Oceania, highlighted the rapid evolution of scams targeting consumers. She noted that fraudsters are adapting their methods to exploit trust, with a notable rise in sophisticated scams, including impersonations of airlines and rental car companies, fraudulent eCommerce sites, and deceptive social media advertisements. Scammers are even mimicking government agencies, sending fake fines and notices to instil urgency and fear.
These emerging forms of fraud present ongoing challenges for the payments sector and the wider community. The increase in sophisticated scams aligns with the growing adoption of digital payment systems and the booming eCommerce landscape. Attackers are taking advantage of platforms with less rigorous verification processes, employing psychological tactics such as impersonation and emotional manipulation to deceive victims. While vigilance is essential, Lazar emphasised that Visa cardholders benefit from robust protections. She explained that if a cardholder’s details are misused or if goods purchased online do not arrive, consumers can dispute the transaction with their bank, allowing for the recovery of lost funds through Visa’s dispute process. The financial industry is also innovating technologically to stay ahead of fraudsters, with Visa’s Scam Disruption Practice preventing over AUD $350 million in fraud in 2024 alone, utilising advanced artificial intelligence and collaborating closely with industry partners. On the business side, leading cyber experts advocate for a comprehensive approach to resilience against digital threats. Manju Naglapur, Senior Vice President and General Manager of Cloud, Applications & Infrastructure Solutions at Unisys, emphasised the importance of “cyber resilience.” He stated that cyber resilience has become a company-wide issue, necessitating organisational alignment and a continuous programme to embed resilience thinking into the workplace, alongside robust cloud, applications, and data strategies.
Categories: Online Fraud, Consumer Protection, Cyber Resilience
Tags: Scam Awareness, Online Fraud, Consumer Protection, Digital Payment, eCommerce, Impersonation, Psychological Tactics, Cyber Resilience, Financial Losses, Scam Networks