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Australian businesses reported an astonishing $23.2 million in scam losses across 2022, with new data from the consumer watchdog showing small firms are persistently vulnerable to email compromise and false billing scams.
In its report, released Monday, the Australian Competition and Consumer Commission (ACCC) revealed Australians lost a record $3.1 billion in scams in the past year, up from $2 billion in 2021.
While the vast majority of that sum is reflected in personal losses, primarily to investment scams, the data shows a significant increase to the value of business losses reported to Scamwatch.
The government organisation tallied $23.2 million in business scam losses in 2022, up from $13.4
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