Australia Fights Back Against Escalating Scams: $381M Lost in 2022
The mobile industry and Australian authorities are joining forces to combat the escalating problem of scams. By August 2022, reported losses had already surpassed $381 million, highlighting the urgent need for collective action. Scams Awareness Week, taking place from 7-11 November 2022, aims to educate the public and businesses about these deceptive practices.
The Australian Mobile Telecommunications Association (AMTA) and the Australian Communications and Media Authority (ACMA) have partnered to tackle scams. Under the Reducing Scam Calls and Scam SMS Industry Code, telcos are required to share information about identified scam traffic with other telcos and the ACMA. This collaboration has led to the blocking of over half a billion scam calls since late 2020.
In 2021, Scamwatch received over 286,000 reports, with losses amounting to around $324 million. These figures underscore the significant financial impact scams have on Australian businesses and consumers, costing hundreds of millions of dollars annually. To protect against scams, the public is advised to keep personal information safe by not sharing sensitive details and using two-factor authentication. It's also crucial to keep mobile devices' software updated and consider installing anti-virus software. Being cautious when installing apps and checking which apps have access to your Facebook profile is another important step. Always be on the lookout for impersonations and avoid providing personal or financial information without proper verification.
Scams continue to pose a significant threat to Australians, with reported losses already exceeding $381 million by August 2022. The mobile industry and authorities are working together to combat this issue, with Scams Awareness Week serving as a reminder for everyone to stay vigilant and take necessary precautions to protect themselves and their finances.
