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flag Australian property scams using fake emails caused $43.2M in losses last year, with most people failing to spot red flags.

flag Real estate scams are rising in Australia, with cybercriminals targeting property transactions using fake emails that mimic trusted professionals, leading to losses like a Sydney couple’s $970,000. flag These business email compromise scams cost $43.2 million in the past year, and 97% of Australians failed to spot red flags in scam emails, despite confidence in detecting fraud. flag Many are unaware of settlement scams, and stolen funds are rarely recoverable. flag Experts urge using secure tools like the PEXA Key app, verifying payment instructions by phone, avoiding urgent demands, and heeding bank warnings to prevent devastating losses.

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