The National Anti-Scam Centre's latest Targeting Scams report put Australian scam losses at $2.18 billion for the year, up almost 8 per cent on the year before. A number that size is easy to skim past. It's worth pausing on, because the breakdown underneath it is more specific than the headline lets on.
Who's actually carrying the loss
Australians aged 65 and over make up roughly 17 per cent of the population, but accounted for more than a quarter of total losses reported, around $88.8 million. Investment scams were the single biggest category nationally, and older Australians were disproportionately hit by them, often after being contacted through social media rather than by phone or email.
The scam isn't getting past people because they're careless. It's getting past because it was built to look exactly like something they'd trust.
Why "just be careful" doesn't hold up as advice
Reports like this one land the same way most scam coverage does, as a reminder to be vigilant. That advice assumes the problem is attention, and for the investment scams doing the most damage, it usually isn't. A convincing video, a fabricated news article, or a message from someone posing as a person you already follow doesn't announce itself. Vigilance helps, but it isn't a complete answer on its own.
What actually helps
The single most reliable habit is treating any investment opportunity that arrives through social media or an unexpected message the same way, regardless of how convincing it looks: stop, and verify independently before money moves anywhere. Check the person or platform against ASIC's Professional Registers. Call a number you already had, not one you were just given. It's a slower habit than scrolling past, and it's the one that actually holds up against a scam built to look real.
The full report, straight from the source
Sfinco hasn't done original research here, this is the National Anti-Scam Centre's own data. Read the Targeting Scams report at scamwatch.gov.au.