Australians lose AUD $175 million to scams as cyber threats soar

With Scam Awareness Week underway across Australia, experts are sounding the alarm over the escalating threat of online fraud and scams, urging both consumers and businesses to bolster their defences against increasingly sophisticated criminal tactics. Recent figures from the National Anti-Scam Centre reveal the gravity of the issue: Australians reported more than 108,000 scams in the first half of 2025 alone, with financial losses soaring to around AUD $175 million.

Martyna Lazar, Head of Risk for Visa Oceania, pointed to the rapid evolution of scams targeting consumers. "Fraud and scams are constantly evolving, with bad actors always adapting to exploit trust," she said. "We're seeing sharp increases in sophisticated scams – from airline and rental car impersonations targeting travellers, to fraudulent eCommerce storefronts and social media ads designed to trick consumers into handing over their details or paying for goods that never arrive. Scammers are even impersonating government agencies, sending fake fines and notices to create urgency and fear."

These new forms of fraud highlight the ongoing challenge for both the payments sector and the broader community. The rise in sophisticated scams coincides with wider adoption of digital payment systems and booming eCommerce trends. Attackers are leveraging platforms where verification procedures are less rigorous and using psychological tactics such as impersonation and emotional manipulation to deceive their victims.

Lazar emphasised that while vigilance is crucial, Visa cardholders benefit from enhanced protections. "While it's important for consumers to stay alert and do their due diligence, Visa cardholders have access to strong protections when they pay with their Visa card." She explained that if a cardholder's details are used fraudulently or if goods paid for online never arrive, consumers can raise a dispute with their bank, and Visa's dispute process provides a pathway to recover lost funds.

The financial industry is also adopting technological innovations to stay ahead of fraudsters. "The payments industry is also taking proactive steps to combat these sophisticated operations before they harm consumers - proactively identifying and dismantling scam networks," added Lazar. She noted that, in 2024 alone, Visa's Scam Disruption Practise prevented over AUD $350 million in fraud, employing advanced artificial intelligence and cooperating closely with industry partners.

On the business front, leading cyber experts argue that organisations must take a holistic approach to resilience against digital threats. Manju Naglapur, Senior Vice President and General Manager of Cloud, Applications & Infrastructure Solutions at Unisys, stressed the critical nature of what he terms "cyber resilience." "Cyber resilience has become a company-wide issue, requiring organisational alignment, a balanced continuous program of embedding resilience thinking into workplace and robust cloud, apps and data strategies," said Naglapur.

Unisys' latest research paints a concerning picture: 85% of organisations report having a reactive cybersecurity posture, putting immense sums at risk if an attack occurs. "The result of poor cyber resilience has proven costly, with our latest research finding that when critical systems are down, up to USD $500,0000 per hour is on the line."

While technological solutions are central to prevention and recovery, Naglapur stresses that human factors remain integral. "While technology is paramount to building cyber resilience, a culture of security is just as important in preventing one of the biggest risks to security, human error. With cybercriminals targeting employees, your people are the first line of defence. Educating employees about phishing and other forms of social engineering as well as providing simple and effective processes to report suspicious activity, will strengthen the first line of defence."

As Scam Awareness Week shines a spotlight on online fraud, experts agree that a blend of cutting-edge technology, informed consumers, and vigilant organisations is necessary to stay ahead of increasingly adept criminal networks. The scale of losses reported in 2025 underscores the urgency of coordinated action across both private and public sectors to protect Australians from digital deception.