Queenslanders Lost $93 Million to Scams in 2023

Queenslanders lost $93 million to scams in 2023. This is a large amount of money that people lost because of fake offers.
By Newsroom | Consumer Protection, Queensland |

In 2023, Queenslanders collectively hemorrhaged over $93 million to various fraudulent schemes, with individuals aged 65 and older bearing a disproportionate brunt of the financial devastation. Those over 65 reported losses nearing $35 million, a stark figure highlighting their vulnerability.

The latest data, published by the Australian Competition and Consumer Commission (ACCC) on March 28, 2024, shows a worrying trend. Among the most reported and financially crippling scams across all age groups were:

  • Investment scams: racking up a staggering $292,623,743 nationwide.

  • Phishing scams: receiving 108,636 individual reports.

  • False billing scams: manifesting in 39,588 reports and costing millions.

  • Dating and romance scams: defrauding individuals of $34,344,656.

  • Online shopping scams: impacting 21,346 consumers.

Immediate Action Crucial If Compromised

Authorities emphasize that any individual who suspects they have divulged account details to a scammer must immediately reach out to their bank or financial institution. The escalating cost of living is cited as a factor potentially pressuring households, making them more susceptible to these predatory tactics.

"With the rising cost of living adding pressure to household budgets, it’s never been more important to be scam aware." - Queensland Government Statement

Queenslanders are urged to regularly consult the Scamwatch website for updates on emerging scams and protective measures. Reporting fraudulent activity to the ACCC via their 'report a scam' page is also encouraged to aid in tracking and combating these widespread issues. The figures released underscore a persistent and escalating problem, with Queenslanders losing more money to scams year after year.

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Frequently Asked Questions

Q: How much money did Queenslanders lose to scams in 2023?
Queenslanders lost over $93 million to scams in 2023. This includes money lost to investment scams, phishing, false billing, dating scams, and online shopping scams.
Q: Which age group lost the most money to scams in Queensland in 2023?
People aged 65 and older lost the most money, with nearly $35 million reported as lost. This shows seniors are particularly vulnerable to these scams.
Q: What are the most common types of scams reported in Queensland?
The most common scams include investment scams, phishing scams, false billing scams, dating and romance scams, and online shopping scams. These scams cost people millions of dollars and caused many reports.
Q: What should I do if I think I've been scammed?
If you think you have shared your account details with a scammer, contact your bank or financial institution immediately. You can also report scams to the ACCC on their 'report a scam' page to help track and stop these issues.
Q: Why are people more likely to fall for scams now?
The rising cost of living is putting pressure on household budgets, which can make people more likely to fall for scams. It is important to stay aware of scam tactics and protect your money.
Q: Where can I find more information about scams in Queensland?
You can find more information and updates on emerging scams on the Scamwatch website. The Australian Competition and Consumer Commission (ACCC) also provides data and reporting tools.