Scams on the rise

Monday 7 March 2011 @ 3.57 p.m. | Corporate & Regulatory

Some 42,000 scams hit Australians last year, more than double that received in 2009, according to the ACCC.

The Australian Competition and Consumer Commission (ACCC) received about 20,000 reports of scams during the 12 months of 2009. This number rose during 2010 as scammers turned to online fraud, according to the regulator.

The cost of scams to consumers was as high as $4 million a pop.

The watchdog also cited a rise in scams impersonating government departments and big business.

In one notable online scam reported last year, overseas fraudsters had managed to sell a man's Perth investment property using stolen credentials.

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