The Albanese Government is urging Australians to take protective actions, like not clicking links in text messages, verifying phone numbers, and keeping across the latest advice from the National Anti‑Scam Centre by visiting scamwatch.gov.au.
The Government urges all Australians to be vigilant about scams this Scams Awareness Week.
While Scams Awareness Week will run from 26-30 August, scam awareness needs to be a constant priority. The campaign urges Australians to report scam activity and share their stories to raise community awareness.
Scammers are sophisticated and constantly change their tactics to manipulate their victims. The scams that are prevalent now - like the 'hey mum' scam or the 'toll road' scam - will shift as people become more alert to them. With new technologies come new threats. Deep fakes on social media have become increasingly advanced and difficult to identify.
This is why community education is vital. So, this week will focus on reporting scams.
We need to break the stigma around scam victims. When people feel ashamed or embarrassed, they are less likely to make a report.
New Scamwatch data shows that over 92% of people who report a scam didn't suffer a financial loss.
By sharing stories with friends and family, people become more vigilant and more able to identify scams when they arise.
Data is a powerful tool in stopping scams. Earlier this year, Call Stop - call disruption technology that uses intelligence from scam reports - was used by Optus to intercept a call between a scammer and a potential victim. We prevented $300,000 in losses.
Cracking down on scammers has been core business for the Albanese government - and our strategy is working. Losses to scams are going down for the first time since 2016.
Prior to the Government's crackdown, scams were sharply rising, and consumers were left by the former Coalition government to fend for themselves.
In 2021, annual losses to scams increased by 84%. In 2022, they increased by 75%. In 2023, this trend was reversed. Losses to scams are now falling.
This is not job done. The government will soon introduce legislation imposing tough obligations on banks, telcos, and social media companies. This will lift consumer protections where the majority of scam activity is occurring. If the institutions fail to comply with their obligations, they will be liable to pay compensation for their negligence.
Comments attributable to Assistant Treasurer and Minister for Financial Services, Stephen Jones:
"The Albanese government is working hard to ensure Australians keep more of what they earn - that includes keeping their money safe from scammers.
"As more aspects of our lives become digital and automatic - scammers will find new ways to target people.
"Vigilance and education right across the community is vital to keeping people's money safe.
