Aussies losing less money to scams but SMS Phishing on the rise » EFTM

 Aussies losing less money to scams but SMS Phishing on the rise » EFTM

In April this year Australians lost $14.6 million to scans according to the ACCC Scamwatch — the lowest it’s been since August last year. While the trend is downwards there are disturbing results from the latest reports — SMS phishing (or smishing) is on the rise.

The number of scams reported in April is 20% less than that reported in March and the lowest since July of last year. Investment scams remains remain the most damaging to Australians with it costing Aussies $8 million in April alone. Another big segment was unexpected prize and lottery scams with 67% of monies lost from these a result of using social media…

Read full article at eftm.com