Scam losses trend up at $175m, NASC reveals

Accounting firms and industry bodies are warning Australians to be vigilant in their scam awareness to protect themselves, businesses and those around them.

With Scams Awareness Week now underway, BDO Australia warned that scams were no longer just a consumer issue, but a critical business risk.

According to the firm, Australians lost more than $2 billion to scams in 2024, which had slightly decreased in 2025, yet the “threat remains persuasive and increasingly sophisticated”.

Karyn Lander, BDO partner in forensics services, said businesses needed to be proactive in enforcing the National Anti-Scam Centre’s (NASC) ‘stop, check, protect’.

“For businesses, this framework must be embedded into daily operations, especially in finance, procurement, and human resources, where scams often strike. It’s not just about individuals’ vigilance; it’s about creating a culture of scam awareness,” she said.

Lander warned that with the evolution of AI also came a powerful tool for scammers, as there had been a significant rise in AI-driven scams which targeted both individuals and organisations.

The AI scams most commonly seen by the professional services firm that Lander warned must be taken into account included deepfake impersonations, AI voice cloning, image exploitation and fake support bots.

NASC revealed it was imperative that individuals and businesses take extra care with cyber protection, as Australians had reported more than 108,000 scams and financial losses of about $175 million to NASC in the first half of 2025.

NASC said despite there having been a 24 per cent decrease in reports compared to the same period last year, reports involving losses had increased significantly.

In the first half of this year, losses to phishing scams hit $19.5 million in 2025, driven by a rise in cryptocurrency impersonation scams, with 14,235 reports involving losses to crypto scams.

Catriona Lowe, ACCC deputy chair, said these scams closely mirrored bank impersonation tactics and resulted in significant financial harm to victims.

“Technology is helping scammers reach more people than ever before and we see scams becoming more sophisticated and harder for people to detect,” Lowe said.

“Scams don’t discriminate and can affect anyone, which is why we open conversations with loved ones and greater awareness is so important. Government, business and individuals all have a role to play in building a scam-aware community and reaching every group, including those who may face extra barriers to understanding or reporting scams.”

NASC also noted it was warning people to be wary of social media and website scams as scammers were aware the average Australian was spending more time and money online.

“This Scams Awareness Week, we’re encouraging everyone to talk about scams, watch for the signs and remember actions that can help make all the difference. As scams become more sophisticated, we are urging more businesses to join the NASC and share data to improve disruption capability across the ecosystem,” Lowe said.

“While it’s distressing to see so many people affected by scams, it’s encouraging to know that Australians are speaking up, seeking help and sharing what they know. This information helps us continue to disrupt scam networks.”