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Ever found yourself waiting for an online shopping purchase that never came? Or purchasing cryptocurrency which turned out to be phony?

Well, you would not be alone.

The ACCC has found that Australians have lost over $250 million to scams so far this year. That’s over 50% more than last year’s figures.

Investments scams were a particular concern with losses 160% higher than the previous year.

So why are so many more Australians losing out to fraudulent schemes? And what makes you vulnerable to being a victim of a scam?

The Wire’s Sophie Ellis spoke to Deputy Chair of the ACCC, Delia Rickard about this new data for Scams Awareness Week.

Produced By: Sophie Ellis

Featured In Story: Deputy Chair of the Australian Competition and Consumer Commission, Delia Rickard

First aired on The Wire, Wednesday 10 November 2021