Australians Lose $119M to Scams in Early 2025, with Investment Fraud Driving Half of Losses

The Australian National Anti-Scam Centre has called on businesses to collaborate in the fight against increasingly sophisticated scams, after new statistics revealed that Australians reported nearly $119 million in scam-related losses during the first four months of 2025.

According to Scamwatch, an educational and reporting platform operated by the Australian Competition and Consumer Commission (ACCC), overall scam reports fell by 24% to 72,230 compared to the same period in 2024. However, reported financial losses surged by 28% to $118,993,148.

Despite this spike, losses were 38% lower than in early 2023, when reported scam-related losses totalled $193.2 million.

Phishing Scams Losses See Largest Increase

Phishing scams, where fraudsters impersonate government agencies or financial institutions, saw the largest increase in reported losses in 2025, amounting to $13.7 million, up from $4.6 million in early 2024.

Investment Scams Remain a Major Concern

Investment scams continue to account for more than half of all reported financial losses, with Australians losing $59 million in the first four months of 2025. While this represents a 1.4% decline from 2024, investment scams remain a serious threat, luring victims with promises of high returns.

“Scams are affecting Australians of all ages, often beginning with an unprompted or unexpected contact via social media and other digital platforms,” ACCC Deputy Chair Catriona Lowe said.

Social Media Scams Rise, While Phone Fraud Declines

Reports of financial losses linked to social media scams rose by nearly 50%, with 3,336 victim reports compared to 2,232 in 2024. Total financial losses from social media-related fraud climbed 30% to $23.4 million. Scam reports involving digital channels, including websites, emails, and mobile apps, also saw an increase.

Meanwhile, reports related to phone scams declined by 11% compared to early 2024. However, phone scams remained the most financially damaging contact method, accounting for $25.8 million in reported losses.

Older Australians Suffer Highest Losses

Australians aged 65 and over recorded the highest total losses, amounting to $33.1 million. However, younger individuals were the most likely to report financial losses, with 1,504 reports from those aged 25-34 and 1,678 from the 35-44 age group.

As previously reported by BrokersView, combined data from Australian agencies shows a 25.9% drop in scam losses to $2 billion in 2024.

BrokersView urges the public to avoid responding to unexpected messages or calls requesting sensitive personal or financial information, check the legitimacy of websites before investing, and do not trust investment opportunities that claim to offer high returns with no risk.

If you suspect a website is fraudulent or have fallen victim to a financial scam, you can Submit a Complaint to BrokersView.