Australians lost nearly $119 million to scams in the first four months of 2025, according to new Scamwatch data released by the National Anti-Scam Centre.
While overall reports dropped 24% to 72,230 compared to early 2024, financial losses rose 28%.
That figure is still 38% below the $193.2 million reported during the same period in 2023, indicating a downward trend in large-scale scam losses – but one that still poses serious risks.
“Scams are affecting Australians of all ages, often beginning with an unprompted or unexpected contact via social media and other digital platforms,” said ACCC deputy chair Catriona Lowe (pictured).
New national data confirms the rising scale of the threat. The Australian Bureau of Statistics found that 3.1% of Australians experienced personal fraud between 2023 and 2024—up from 2.5% the year before, affecting over 675,000 people.
Scams are also becoming more sophisticated, with criminals using AI, voice-cloning, and social engineering tactics to bypass security systems.
Phishing scams saw the biggest surge in financial damage in early 2025, with losses jumping to $13.7 million, up from $4.6 million in 2024. These scams typically involve fake emails, texts, or calls impersonating trusted organisations such as banks or government agencies.
Social media scams also grew significantly, with a 50% increase in victims – 3,336 reports, up from 2,232 last year. Losses from social media scams rose 30% to $23.4 million, showing scammers are increasingly targeting users across platforms like Facebook and Instagram.
“The work of our fusion cells has demonstrated that a piece of data that may be unremarkable on its own, when joined with other pieces of data, can form powerful intelligence,” Lowe said.
“With data held across the ecosystem, sharing data with the National Anti-Scam Centre enables those vital connections to be made.”
Investment scams remained the costliest category, accounting for over half of total losses. Australians lost $59 million to these scams in early 2025 – a slight 1.4% decrease from last year. These scams often lure victims with promises of high returns from fake crypto, shares, or property schemes.
Phone scams declined 11% in reports, yet continue to be the most financially damaging method, responsible for $25.8 million in losses. Scammers frequently impersonate institutions like the ATO or banks to exploit trust and create urgency.
“While the average and median losses per victim have slightly decreased, the rise in overall financial loss and the number of people being impacted is a reminder to stay alert,” Lowe said.
“We encourage all Australians to report suspicious scam activity, even if no money is lost... and talk to friends and family to help spread awareness.”
Australians aged 65 and over reported the highest total losses at $33.1 million, highlighting their financial vulnerability. However, the 25-44 age group accounted for the most reports – 1,504 from 25-34-year-olds and 1,678 from those aged 35-44.
“Businesses in all industries also need to stay alert to the risk of scams and adapt their systems to keep customers safe,” Lowe said.
The National Anti-Scam Centre is urging banks, telcos, and digital platforms to share scam data more proactively, allowing real-time disruption and prevention.
“Our approach to scam prevention is grounded in partnership. Sharing information is a key step towards improving community safety,” Lowe said.
Australians are encouraged to follow the stop, check, protect framework:
Read the announcement from the National Anti-Scam Centre here.
