"Australians Report Fewer Scams, But Face Greater Financial Losses with 'New Weapon of Choice'"

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Australians are reporting fewer scams in 2025, but are losing more money as a result of them.

While the total number of scams reported to the National Anti-Scam Centre’s Scamwatch service in the first half of this year dropped by 24 per cent, reports involving financial losses have increased significantly, according to the Australian Competition and Consumer Commission (ACCC).

It comes as Australians are urged to remain alert to “emerging” scam threats powered by artificial intelligence — from voice cloning to deepfake videos.

Total reports drop, but financial losses rise

Australians reported 108,305 scams and $174.8 million in financial losses to Scamwatch in the first half of this year, the ACCC revealed on Monday, with fake websites, online ads and contact through social media being scammers’ preferred methods.

The total number of reports is a 24 per cent drop compared to the same period last year.

However, the almost $175 million reported lost represents a 26 per cent increase.

There has also been a 40.5 per cent increase in reports involving losses, which is higher among those who speak English as a second language (44 per cent), along with First Nations Australians (55.3 per cent).

On Monday, the ACCC said the losses in 2025 still represent a 39 per cent decrease compared to the same period in 2023. Financial losses to scams peaked in 2022 and early 2023, it said.

Losses to phishing, shopping scams in 2025

Losses so far to phishing scams this year totalled $19.5 million. Phishing refers to attempts by scammers to deceive a person into giving their personal information, such as bank account details or passwords.

These losses were driven in part by a rise in cryptocurrency impersonation scams.

“Technology is helping scammers reach more people than ever before, and we see scams becoming more sophisticated and harder for people to detect,” ACCC deputy chair Catriona Lowe said.

“Scams don’t discriminate and can affect anyone, which is why open conversations with loved ones and greater awareness are so important.

“Government, business and individuals all have a role to play in building a scam-aware community and reaching every group, including those who may face extra barriers to understanding or reporting scams.”

Scamwatch also received more than 6,300 reports of financial loss to shopping scams in the first half of the year. That type of scam had more reports of financial loss than any other.

Shopping scams can involve scammers “creating convincing online shopping platforms, advertising fraudulent products and luring consumers with deals that appear too good to pass up”.

“Scammers are increasingly targeting people on websites and social media, knowing we’re all spending more time and money online,” Lowe said.

“Taking just a few moments to verify a seller or offer can be the difference between a good deal and a devastating financial loss.”

AI-powered scams to look out for

Banks are urging Australians to remain alert to “emerging” scam threats, which are powered by AI.

Australian Banking Association (ABA) chief executive Simon Birmingham said AI, a “powerful tool” for banks and law enforcement to combat scams, has also become the “new weapon of choice for scammers”.

“Unfortunately, we live in a world where advances in AI‑generated video and audio make it possible for criminals to impersonate celebrities, your friends, family members or even your bank,” he said.

“From fake investment ads by celebrities to voice clones asking for help, AI scams are becoming more targeted, sophisticated and emotionally manipulative.”

The ABA is warning Australians to be on the lookout for scams using voice cloning, deepfake videos or AI-generated phishing scams.

“Banks will continue to fight back by using AI to detect and shut down scams so as to protect people’s money, however customer vigilance is still the best form of defence,” Birmingham said.

New data from ANZ showed a 15 per cent drop in customer losses to scams between last October and June.

The bank said on Monday that although scams were getting more sophisticated, there was greater customer engagement with security features and more awareness.

“Our customers are becoming increasingly aware of how to protect themselves,” said Shaq Johnson, ANZ’s head of Australia and New Zealand customer protection.

ANZ said it stopped $100 million worth of scams in the nine months to June and urged customers to “continue building their awareness through available education opportunities”.

Earlier in August, the Commonwealth Bank said it was getting the upper hand on scammers, citing a 76 per cent fall in customer losses to fraud since a peak in early 2023.

The bank said it spent almost $1 billion in 2024 to 2025 on preventing scams, including the rollout of “two new defensive assets” to help protect customers.

Overall, the ACCC’s Lowe said while it’s distressing to see so many people affected by scams, it’s encouraging to know that Australians “are speaking up, seeking help and sharing what they know”.

“This information helps us continue to disrupt scam networks.”

— With additional reporting by the Australian Associated Press.