Targeting scams: Report of the National Anti-Scam Centre on scams activity 2023

This is the first annual report on scams activity released by the National Anti-Scam Centre since it was established on 1 July 2023. This report provides insight into scams reported by Australians in 2023 and highlights the impact of government and private sector initiatives to combat scams.

Scammers are opportunistic and agile financial criminals. They use sophisticated technology and
psychology to steal Australians’ money and personal information.

In early 2023, it was anticipated Australians would report losing significantly more than the $3.15 billion reported in 2022 given the year-on-year growth in financial losses and increasing scam activity globally. However, based on data from Scamwatch, ReportCyber, the Australian Financial Crimes Exchange, IDCARE, and the Australian Securities and Investments Commission the combined losses reported in 2023 were $2.74 billion (a 13% decrease in losses).

In 2023, Australians made over 601,000 scam reports compared to the 507,000 in 2022 (an 18.5% increase in reports). It is encouraging to see the amount of financial loss decreased despite the increase in scam reports. This is a result of the concerted efforts of government (including through the establishment of a National Anti-Scam Centre), the private sector, law enforcement, and
community organisations. These results demonstrate that coordinated scams prevention, detection and response initiatives can stem the flow of funds to criminals and protect Australians…