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iTWire - Payment redirection scams cost Australian businesses $128 milion in losses in 2020

iTWire
Wednesday, 09 June 2021 11:42
Payment redirection scams cost Australian businesses $128 milion in losses in 2020
Featured
Payment redirection scams were the most financially damaging scams for Australian businesses in 2020 according to the competition watchdog, the ACCC’s latest targeting scams report.
Combined losses reported to Scamwatch, other government agencies, banks and payment platforms totalled $128 million in 2020 - with Australian businesses losing $18 million to scams in 2020, a 260% increase on losses reported in 2019.
“Small and micro businesses made most of the reports to Scamwatch and experienced an increase in losses in 2020, although larger businesses reported the highest losses,” Australian Competition and Consumer Commission (ACCC) Deputy Chair Mick Keogh said. ....

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iTWire - Australians lose $851 million to scams as scammers take advantage of pandemic

iTWire
Monday, 07 June 2021 10:37
Australians lose $851 million to scams as scammers take advantage of pandemic
Featured
Australians have lost a record $851 million to scams, with scammers taking advantage of the pandemic to con unsuspecting people, according to a new report which also reveals that investment scams accounted for the biggest losses.
According to the Australian Competition and Consumer Commission (ACCC) investment scams fleeced Australians of $328 million, and made up more than a third of total losses - while romance scams were the next biggest category, costing Australians $131 million, and payment redirection scams resulting in $128 million of losses.
The ACCC’s latest ....

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iTWire - NZ consumer credit providers, mobile traders under notice to comply with new due diligence guidance

New Zealand’s competition enforcement agency The Commerce Commission has finalised its guidance for directors and senior managers of consumer credit p. ....

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iTWire - Monash Uni inks MOU with Engie to accelerate Net Zero carbon initiative

Monash University has signed a Memorandum of Understanding (MoU) with global energy company ENGIE to explore opportunities to co-develop scalable zero. ....

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iTWire - deVere unveils product linked to cryptocurrencies

Global financial advisory and fintech organisation deVere Group has unveilled a new and exclusive product linked to the movements of cryptocurrencies. ....

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