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flag A Canberra tech CEO lost $25 to a scam fake bank text urging urgent use of reward points.

flag A Canberra tech CEO narrowly avoided a financial scam after receiving a fake bank text urging him to use expiring reward points, leading him to spend $25 on a $1,300 LEGO set via a spoofed login link. flag Though he used his bank’s official app—preventing data theft—he still lost money, highlighting how scams exploit trust, urgency, and desire. flag The incident reflects a broader surge in fraud, with Canberra reporting over $1.2 million in losses and more than 2,600 scams between January and May 2025, primarily targeting young and middle-aged adults through investment, billing, and employment fraud. flag Nationally, Australians lost over $147 million to scams in the same period. flag The CEO, founder of Aristotle Metadata, stressed the importance of ongoing education, noting even tech professionals are vulnerable.

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