Fake text messages on the rise, but experts warn Australians most losses are from more sophisticated scams

theguardian.com/money/2023/jan/25/fake-text-message-sms-australia-losses-more-sophisticated-scams

Financial scams have become more sophisticated and easier to perpetrate, ballooning into a billion-dollar industry in Australia, experts have warned.
Last year more than 239,000 scams worth $570m were reported to Scamwatch, but the organisation says the real number is much higher, as only about 13% of scams are reported.
Investment scams remain the number one risk for…

This story appeared on theguardian.com, 2023-01-25.
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