50% reduction in reported scam losses in Australia in one year, according to the Albanese government and National Anti-Scam Centre.

The Albanese government and National Anti-Scam Centre report a "cautiously optimistic" 50% reduction in reported scam losses in just one year, citing a sharp decline in investment scams. This follows a record $3.1 billion lost to scams in 2022. Assistant Treasurer Stephen Jones launched the centre's second quarterly report at a Global Fraud Summit in London, highlighting the decrease in scam losses during the October to December 2023 quarter compared to the same period in 2022. Australians reported $82.1 million in losses during this quarter, a 43% reduction from the previous year and a 26% drop from the previous quarter.

March 16, 2024
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