New Australian Anti-Scam Initiative Aims to Protect Consumers
The Australian government has announced a new $58 million Anti-Scam initiative to protect consumers. The National Anti-Scam Centre (NASC) will be established within the Australian Competition and Consumer Commission (ACCC) and will be tasked with coordinating the government’s anti-scam efforts.
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Last week’s Federal Budget have announced the $58 million fund will be allocated to the ACCC to complete the setup of the National Anti-Scam Centre over the next two years.
“Australians lost over $3 billion to scams in 2022 alone, and scam losses have increased nearly five‑fold since 2020. The average loss from a scam is around $20,000. The average household has about $34,000 in savings.” said the Hon Stephen Jones MP – Assistant Treasurer and Minister for Financial Services, on the announcement of the setup of the NASC.
The NASC will be the Australian Government’s primary weapon to detect, disrupt and deter scammers and tackle online fraud to protect Australians. In a world‑leading partnership between government agencies, banks, telcos and digital platforms, the NASC will:
- use cutting‑edge technology to share intelligence across Government and with authorised industry participants to interrupt scams in real-time;
- combine the expertise of the Government and the private sector to disrupt scams and;
- raise consumer awareness of the risk of scams and how to avoid them.
The ACCC has welcomed the Australian Government’s commitment to establish a new National Anti-Scam Centre (NASC).
The National Anti-Scam Centre will be phased in from 1 July 2023, with capability, including data-sharing technology, to be built over the next three years.
The NASC will have a number of functions, including:
- Receiving and collating reports of scams
- Analysing scam data to identify trends and patterns
- Working with law enforcement to investigate and prosecute scammers
- Raising awareness of scams among consumers
- Providing education and support to victims of scams
The NASC is expected to be operational by July 2023.
The government’s announcement of the NASC comes at a time when scams are on the rise in Australia. In 2022, Australians lost a record $2.9 billion to scams. The most common scams include:
- Investment scams
- Romance scams
- Tech support scams
- Government impersonation scams
- Social media scams
- Crypto scams
Scams can have a devastating impact on victims, both financially and emotionally. The NASC is a welcome initiative that will help to protect Australians from these harmful crimes.
What you can do to protect yourself from scams?
There are a number of things you can do to protect yourself from scams:
- Be suspicious of unsolicited calls, emails, and text messages.
- Never give your personal or financial information to someone you don’t know and trust.
- Be careful about what you click on in emails and on websites.
- Keep your software up to date.
- Enable two-factor authentication (2FA) for your online accounts
- Use strong passwords and change them regularly.
- Be aware of the latest scam trends.
- Report scams to the ACCC or your local police.
By following these tips, you can help to protect yourself from scams.
Conclusion
Scammers are very sophisticated and very good at what they are doing to extract a lot of money from Australian victims. It is getting difficult for people of all ages and income levels to tell the difference between these scams or not. This is why it’s important to be aware of your surroundings and not fall for scams that are common today. So, what’s the best way to avoid falling victim to a scam? It might be surprisingly simple: When in doubt, you should immediately cease communication to review and do your due diligence. That is unless you’re sure that you know for certain who you are talking to and why. Don’t give out personal information or credit card numbers over the phone or online unless you have a good reason.
Written by The Original PC Doctor on 23/5/2023.
