Cyber Scams On the Rise in Australia
Australian authorities are registering increasing instances of scams targeting internet users. The total losses are estimated to be over $70 million. Cybercriminals are always finding new ways to extort money from unsuspecting internet users. In the recent days, Australian internet users are being targeted over Facebook by scammers posing as government employees. According to reports on Australian news media platforms, the cybercriminals are impersonating representatives from big brands, government agencies, utilities and telecom companies and even the taxation department. The scammers are....
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Since the cryptocurrency grew in the last few years, it also has become the favorite place for fraudsters and cybercriminals to loot money. Per the latest estimates, Australia records significant losses indicating crypto scams are on the rise in the state. According to the stats viewed by the Australian Competition and Consumer Commission (ACCC), Australia […]
Less than 1% of overall fraud cases relate to cryptocurrency, but that number could be rising in line with Bitcoin and the crypto market's ascension. The United Kingdom Crown Prosecution Service expects to see an increase in the number of Bitcoin (BTC) and cryptocurrency-related scams in the coming years, but admits they are still rather infrequent for the time being.The CPS estimates that 86% of reported fraud is now cyber-related — a situation exacerbated in the past year by the outbreak of COVID-19 which pushed more people online, reports the Financial Times.City of London police....
Australia is stepping up action against cryptocurrency ATMs after a sharp rise in scams and other illicit uses, according to AUSTRAC and law enforcement reports. Machines that let people turn cash into crypto have grown fast, and regulators say the surge has put older and vulnerable users at particular risk. Related Reading: Japan Declares War […]
Crypto scams have been on the rise with the bull rally but scammers have found another medium to perpetuate their scams. YouTube has always been an effective marketing and influencing tool in the space, which is why it is sometimes a prime target for scammers. This time around, scammers have found another way to separate […]
Facebook users in Australia are being tricked into handing over money as scammers use the social media site to demand bitcoin or iTunes gift cards as payment. According to the Australian Competition and Consumer Commission (ACCC), thieves are hiding behind familiar organizations that the general public are likely to trust such as utilities and telecommunication agencies. In a report from SBS, a regional news site, Australians had lost over AU$70 million to scams by October’s end. However, according to Delia Rickard, ACCC deputy chair, this figure doesn’t represent the overall number of....