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Australian property scams using fake emails caused $43.2M in losses last year, with most people failing to spot red flags.
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.
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.
Many are unaware of settlement scams, and stolen funds are rarely recoverable.
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.
Las estafas de propiedades australianas que usan correos electrónicos falsos causaron pérdidas de $43.2M el año pasado, y la mayoría de las personas no detectaron señales de alerta.