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FFF033 The real impact of financial scams (90 words)
Tagged in Currency
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FFF033.docx
Description
This short article examines the cost of financial scams, the impact they have on Australians and emphasises the importance of awareness and preparedness in combating cyber fraud.
Introduction
According to the Australian Competition and Consumer Commission (ACCC), in 2022 financial scams cost Australians around $3 billion.
Financial fraudsters deceive, manipulate and exploit victims into making financial transactions or investments, or sharing sensitive information for illegal profit, money laundering or even funding terrorism activities.
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