Coast not sold on online fraud

ONLINE scammers contribute a significant number to business losses each year, but Gold Coast residents are proving less susceptible of falling victim to fraudulent activity.

A report by The Australian Competition and Consumer Commission (ACCC) shows a national total of $70 million in reported losses through scams in 2009.

Queensland Fair Trading Minister Peter Lawlor, says while the Gold Coast is not immune to scams, the numbers indicate some resilience.

“The Office of Fair Trading received 2173 complaints relating to scams in 2009 — up 800 on the previous year. Of these complaints, 66 originated from Gold Coast residents,” he says.

ACCC deputy chair Peter Kell, says the majority of total national losses occurred through fraudulent internet activities and the real figure is expected to be much higher.

“Realistically, this figure is likely to be the tip of the iceberg – given people can be embarrassed about reporting that they have fallen victim to scams and lost money in the process,” he says.

Lawlor concedes there are many instances that go unreported and urges victims of online scammers to report the crimes and help stamp out fraudulent online activity.

Get our daily business news

Sign up to our free email news updates.

 
Four time-saving tips for automating your investment portfolio
Partner Content
In today's fast-paced investment landscape, time is a valuable commodity. Fortunately, w...
Etoro
Advertisement

Related Stories

‘Heat of the moment’: The Star’s chair regrets inflammatory texts with CEO

‘Heat of the moment’: The Star’s chair regrets inflammatory texts with CEO

The Star Entertainment Group’s (ASX: SGR) executive chairman ...

Vastly bigger than the Black Summer: 84 million hectares of northern Australia burned in 2023

Vastly bigger than the Black Summer: 84 million hectares of northern Australia burned in 2023

It may come as a surprise to hear 2023 was Australia’s bigges...

Crown retains NSW casino licence after regaining trust of regulator

Crown retains NSW casino licence after regaining trust of regulator

Crown Resorts has regained the trust of the NSW regulator which tod...

Housing disaster to "get quite a lot worse before it gets better", says Deloitte Access Economics

Housing disaster to "get quite a lot worse before it gets better", says Deloitte Access Economics

Deloitte Access Economics is forecasting a "more promising&quo...