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2014 Marks Largest Online Fraud Losses EVER!

Posted: May 19th, 2015 | Author: | Filed under: Indeep Media | Tags: , , , , , , | Comments Off on 2014 Marks Largest Online Fraud Losses EVER!

Romance scams led to biggest financial fraud losses in 2014, ACCC saysAustralians were scammed out of almost $82 million last year, with romance-based schemes accounting for the biggest losses, a report from the Australian Competition and Consumer Commission (ACCC) has found.

The figures showed more than 90,000 scams were reported to the ACCC in 2014, with around one in nine successfully obtaining money.

The biggest losses were experienced by those who had been tricked by romance or dating scams, which accounted for $28 million.

The report found while fewer people were falling into the trap of sending money to a false admirer, the financial losses was far greater, with 3 per cent of contacts accounting for 34 per cent of losses.

In 14 cases, the losses exceeded $500,000. Investment fraud and computer prediction software was the next most popular type of scam.

More than $21 million was lost in scams where people were asked to invest in a scheme or work opportunity, or buy into computer programs that claimed to help the user make money ::::
Romance scams led to biggest financial fraud losses in 2014, ACCC says

The report found while fewer people were falling into the trap of sending money to a false admirer, the financial losses was far greater, with 3 per cent of contacts accounting for 34 per cent of losses.

In 14 cases, the losses exceeded $500,000.

Investment fraud and computer prediction software was the next most popular type of scam.

More than $21 million was lost in scams where people were asked to invest in a scheme or work opportunity, or buy into computer programs that claimed to help the user make money.

The report found those caught out were evenly split along gender lines and across all age groups.

One surprising finding was that 53 per cent of the reported scams were solicited over the phone, via calls or text message, while 38 per cent were online.

The greatest number of scam reports came from New South Wales, Victoria and Queensland, reflecting the nation’s population centres.

The regulator said actual losses were likely to be higher, given it was only one of several agencies tracking such activity and taking reports from those affected.

ACCC’s tips to avoid scammers:

  • Keep your personal details secure
  • Think twice about what you say and do in an online environment
  • Keep your mobile devices and computers secure
  • Choose your passwords carefully
  • Beware of any request for your details or money
  • Get a copy of your credit report

Jobseekers targeted by scammers and defrauded on fake recruitment sites, NSW police say

New South Wales Police are warning jobseekers to beware of fake recruitment websites that demand personal documents from applicants and then defraud them.

Police said scammers create fake job advertisements then trick jobseekers into sending scanned copies of driver licences, passports and birth certificates.

Detective Superintendent Arthur Katsogiannis, commander of the NSW Police Fraud and Cybercrime Squad, said such highly sensitive documents were dangerous in the wrong hands.

“Once the criminal groups get possession of those documents, they take over the victim’s identity, set up accounts the victim has no knowledge of, use those accounts to launder money, set up other accounts, even fraudulent mortgage accounts,” he said.

Police said no genuine recruitment agency would ask an applicant to scan and send such personal documents.

Investigators said fake emails purportedly from the Australian Tax Office and the State Debt Recovery Office continued to be sent, tricking recipients into downloading malicious software known as malware.

Once downloaded, the software locked users out of their computers and demanded a “ransom” before access was granted.

In the past year, 43,000 fraud offences were reported in NSW alone.

Detective Superintendent Katsiogiannis said victims were often reluctant to come forward, because they felt “stupid”.

“You don’t have to be an idiot and you don’t have to be silly. These people who are committing these crimes online are very, very smart at what they do,” he said.

Police have also urged social media users to be more discrete with their personal information and warned that hackers were trawling sites such as Facebook and LinkedIn in search of dates of birth, addresses, employment details and photos.

“This type of information is invaluable to criminals, because they’ll use that to take over identities and set up fake accounts,” Detective Superintendent Katsiogiannis said.

“Once your identity is stolen it’s very, very difficult to get it back.”

Much of the online hacking and scam activity has been traced back to eastern Europe and China.

From other news sites:

@mcsixtyfive

The Kernel

RELATED! Ebay Australia Helps Snare Welfare Cheats

Ebay.au Helps Trap Welfare FraudData from online trading site eBay.com.au has helped Australia’s Government welfare agency, Centrelink, catch out social security recipients who are not declaring big profits from internet sales. Centrelink has cleverly compared its payment records with the activity of nearly 20,000 people who are running profitable eBay businesses.

The government agency identified 25 people who must repay close to $AU900,000 in welfare payments they weren’t entitled to. Centrelink general manager Hank Jongen said some matters had been referred to the director of public prosecutions, but no charges have yet been laid.

Welfare fraud costs Australia more than $AU600 million a year, the Australian Institute of Criminolgy –AIC – says welfare fraud is difficult to measure because it falls outside the two main crime measures of incidents reported to police and victim experience surveys. The AIC says the UK department responsible for social welfare estimated in 2009 that more than two percent of all benefit expenditures, or £3 billion a year, was fraudulently claimed :: Read the full article »»»»

RELATED! AFP Break Major Child Abuse Network

AFP Cybercrime Unit Cracks Major Australian Paedophile Ring

It’s a much smaller world for Australian paedophiles today. No longer safe behind their hideous little peer-2-peer networks, Australian Federal Police – AFP – say they’ve smashed a major child-sex-abuse network of online predators, arresting 21 people from around Australia this week.

AFP commenced Operation Conqueror in January, investigating the production, sharing and distribution of child abuse material – video and images –  on the internet.

AFP, state and territory police officers carried out 36 search warrants in every state and territory as part of the operation, and arrested 21 people, with a further 6 still being sought for questioning.

“The material that’s been seized can only be classed as abhorrent and personally disgusting,” AFP Cyber Crimes operations manager Glen McEwan said. “Tackling this heinous crime is a key focus for the AFP.”

Hundreds of thousands of images and videos were seized in the raids, Mr McEwan said that one property raided had 26 hard drives – ranging in size from 500GB-2TB – filled with illegal images and videos.

Mr McEwan called on the community to continue passing on information and assistance in prosecuting crimes against children.  He says as even though technology evolves allowing criminals to change their techniques, it is just a matter of time before online predators will be caught. Mr McEwan said the images seized were both locally and internationally produced :: Read the full article »»»»

 

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source: nsw.police
source: accc
source: online.dating
source: indeepmedia
image source: indeepmedia

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