About 14% of Australians experienced personal fraud last year. Of these, 2.1 million experienced credit card fraud, 675,300 were caught in a scam, 255,000 had their identities stolen and 433,000 were impersonated online.
According to the Australian Bureau of Statistics latest Personal Fraud Survey, between July 2023 and June 2024, Australians lost A$2.1 billion through credit card fraud.
This was up almost 9% from the previous year. Even after reimbursements, the loss was still $477 million.
These figures do not include financial loss through identity theft, or phishing, romance, computer support and dodgy financial advice scams.
Why the increase?
Research shows the more frequently we use technology, the more likely we are to be scammed. Monica Whitty from the Cyber Security Centre, University of Warwick, found victims of cyber-frauds were more likely to score high on impulsivity measures like ‘urgency’ and engage in more frequent online routine activities that place them at great risk of becoming scammed.
We communicate via email, we shop online, use dating apps and allow technicians to remotely access our computers. Meanwhile, amazing “get rich quick” opportunities are apparently being liked by our friends on our socials almost every day.
But too many of us do not stop and think, “is this legitimate?” It is no wonder we see personal fraud and scams increase every year.
While the Australian Bureau of Statistics figures suggest older Australians (aged 45 and over) are more exposed to card fraud, research has found demographics are not a significant predictor of fraud victimisation.
Taking risks
Being too trusting, drives complacency, which produces gullibility. Think about an online dating sites. The site uses a multi-factor authenticator, it requires you to authenticate your photo, password protect your profile and read the scam warnings.
A site’s apparent legitimacy increases your trust. Research has found if you perceive a platform to be legitimate you could be exposed to romance fraud. Fraudsters may be operating within a site, even if it is legitimate.
Another strong predictor of exposure to online fraud is self-control. Self-control theory predicts individuals with low self-control tend to pursue their own self-interest without considering the negative consequences.
Simply, if the investment scheme looks “too good”, they will mostly likely click on the link and get scammed.
Giving away too much
Some individuals are prone to self-disclosing personal information online – and scammers love personal information. Self-disclosure is defined as the amount of information a person decides to make common knowledge.
Sometimes, we disclose, even when we don’t intend to. A common phishing technique on social media is status updates that read, “Your porn star name is your first pet’s name and the first street you lived on.”
They’re interesting, funny and bring on a healthy dose of nostalgia, but the answers to those questions that you tap in for all to see are also most likely to be your security questions on your bank accounts.
The most common scams in 2023-2024:
- Buying or selling scams (1.4% or 308,200)
- Information request or phishing scams (0.7% or 148,800)
What is the government doing to protect me?
The Australian government recently passed legislation which targets scams. It places increased responsibilities on banking and finance, telecommunications and digital platforms organisations to protect customers.
Suspicious numbers can now be accompanied a warning of “potential fraud” on your smartphone screen. Banks are also informing customers about the latest scams. Some banking transactions can verify the identity of the payment recipient, to ensure the details you have match the actual account holder.
While these will not stop all scams, they are a step towards reducing the number of victims and the amount of money lost to fraudulent approaches.
Six steps to protect yourself
There are some small but powerful steps we can all take to reduce the likelihood of financial harm.
1. Passwords: it is important to have strong, unique passwords across your accounts. Using a password manager can help with this.
2. Multi-factor authentication: many platforms will allow you to add extra layers of security to your account by using one-time passwords, authenticator apps, or tokens.
3. Review privacy settings: be aware of the different settings on your accounts and ensure you are in control of what information you provide and what can be accessed by others.
4. Be vigilant: know what you see and hear may not be real. The person or company you are communicating with may not be authentic. It is okay to be sceptical and take time to do your own checks.
5. Money transfers: never send money you are not willing to lose. Too often, people will send money before realising it is a scam. Never feel rushed or forced into any financial decision. It is OK to say no.
6. Credit monitoring: if you know or suspect you have been scammed, you can enact a credit ban, meaning no one can access your details or take further action in your name. This can be a good short-term solution.
And if you are scammed …
Anyone can report money lost in a scam to ReportCyber, the Australian online police reporting portal for cyber incidents. If you have received scam texts or emails, you can report these to Scamwatch, to assist with education and awareness activities.

The post “3.5 million Australians experienced fraud last year. This could be avoided through 6 simple steps” by Gary Mortimer, Professor of Marketing and Consumer Behaviour, Queensland University of Technology was published on 04/07/2025 by theconversation.com
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