As more Australians experience financial scams, the Australian Banking Association (ABA) has launched a new campaign to raise awareness on the increasing threat of scams, warning Australians to be on the lookout for scam phone calls, texts and emails.

Last year in Australia $851 million was lost to scams. In the year to July, 84,000 scam calls were reported to Scam Watch, which is an increase of 145 per cent on the same period from the previous year (34,000).

The ABA campaign has been launched off the back of new data from the ABA, which reveals 37 per cent of Australians have lost money, or know a close friend or family member who has lost money to a scam.

Incredibly, 34 per cent of Australians know someone who have lost more than $150,000.

“Scammers don’t target one group over another, they target all people of all backgrounds, ages and income levels across Australia.”

ABA CEO Anna Bligh

Anna Bligh, Chief Executive Officer at the ABA, said with all…

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