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Aussies conned out of hundreds of millions of dollars during covid cyberscams

A record $851 million was conned from Australians due to cyber crime and online fraud in 2020, as professional scammers used the COVID pandemic to prey on vulnerable people. Investment scams made up a third of the amount of money scammed, with $328 lost, while romance scams came in next with $131 million stolen from people looking for love online. Payment redirection scams, where an online payment gateway is redirected to a third party using cyberattacks such as the Man in the Middle (MITM).

The data was collected from over 440,000 reports, generated by government agencies, banks and financial institutions, as well as organisations such as Scamwatch and ReportCyber.

If you are the victim of a cyber crime or cyber scam its wise to contact the appropriate authorities such as Queensland police report cybercrime page.

Jacob Llwyn
Jacob is a cybersecurity tech and network engineer with over a decade of experience in the field. For the last few years he's been advising Mexican journalists investigating corruption and money laundering on how to best secure their communications and their sources. He is on the final lap to complete his postgrad on Cyber Crime at Griffith University

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