Displaying items by tag: losses

Consumers are being warned to beware of anyone instructing them to download software or an app over the phone, following a recent rise in reported losses to remote access scams.

Australia’s competition watchdog, the  Australian Competition & Consumer Commission (ACCC), has called for new competition and consumer laws for digital platforms and recommended a range of new measures to address harms from the platforms to Australian consumers, small businesses and competition.

Phone calls were the most common contact method used by scammers to target victims in 2021, while text messages were the second-highest contact method used by scammers.

Middle aged and older Australians suffered the brunt of scams in September with those aged 45 to 54 the hardest hit financially during the month and the aged 65 and over reporting the highest number of scams at 5,642.

Australians have lost over $70 million to bogus investment scams in the first half of this year and a massive increase in losses are predicted by the end of the year, according to the consumer watchdog the ACCC.

New South Wales residents were the most financially impacted by scams in July, accounting for 37% of the total amount lost in the month.

Australians have been warned to be careful when buying gifts this holiday season as losses to online shopping scams have already increased 42% this year as the country enters the busy Christmas-New Year period.

The annual losses incurred by NBN Co, the company rolling out Australia's national broadband network, have been halved in 2019-20 year-on-year, according to the company's results which were announced on Tuesday.

Business email compromise scams cost Australian businesses $132 million in losses in 2019, causing the highest losses across all scam types for the year.

$27 billion sounds huge, and it is, but it’s almost 10% of the total digital advertising market, so while hundreds of billions remain, publishers will get squeezed!

NITL is launching its highly successful Exact Advantage software application across EMEA and Asia Pacific for the management of global exposure to potential losses arising from man-made and natural disasters.