De Master Yoda
12-12-2008, 12:58 PM
From: AdelaideNow.com.au
STEVE LEWIS, NATIONAL POLITICAL CORRESPONDENT
December 13, 2008
A RECORD number of Australians are falling prey to ruthless scam merchants who are exploiting the economic downturn to target the poor and elderly.
An alarming 37 per cent hike in scams has been reported in 2008 - and there are warnings the Rudd Government's $10.4 billion fiscal injection could trigger a fresh wave.
More than 17,000 people have lost at least $33 million in rip-off schemes.
One of the oldest remains the most common. The Nigerian Bank letter scam has netted $10.5 million from Australian victims.
Alarmingly, the consumer watchdog warns the rise in scams will get worse as the economy deteriorates.
Australian Competition and Consumer Commission chair Graeme Samuel said the aged and low-income families should be particularly vigilant about "too-good-to-be-true" opportunities. "Consumers have to be aware that scammers are eager as ever to part them from their hard-earned money," he said.
According to the ACCC, $32.9 million was lost to scam merchants in the year to November 30.
"Scammers target the vulnerable," Mr Samuel said.
They also target the gullible with Mr Samuel claiming the ACCC is often "amazed" at how brazen scam criminals have become.
"We've had instances of people losing hundreds of thousands of dollars through the Nigerian Bank scam," he said.
Among the most common scams are offers of "free" or cheap holidays.
With thousands of Australians being laid off, the ACCC is also seeing a rise in the number of scams offering big-paying jobs that simply don't exist.
The internet has made it easier for criminals operating scams to rip off gullible people. Just over $3.5 million was reported lost this year in computer software scams, such as betting schemes.
One of the most common complaints lodged with the ACCC involves people willing to buy houses at "fire-sale" prices, who then on-sell at greatly inflated prices.
Scam operators are also exploiting the tight rental market, offering fixed-term rental deals - but then failing to deliver after people have made upfront payments.
"These scams, in terms of the internet, are so ubiquitous that you can't pick up the number of people who are being caught," Mr Samuel said. "And you can see where scam merchants are targeting - they are targeting the vulnerable."
STEVE LEWIS, NATIONAL POLITICAL CORRESPONDENT
December 13, 2008
A RECORD number of Australians are falling prey to ruthless scam merchants who are exploiting the economic downturn to target the poor and elderly.
An alarming 37 per cent hike in scams has been reported in 2008 - and there are warnings the Rudd Government's $10.4 billion fiscal injection could trigger a fresh wave.
More than 17,000 people have lost at least $33 million in rip-off schemes.
One of the oldest remains the most common. The Nigerian Bank letter scam has netted $10.5 million from Australian victims.
Alarmingly, the consumer watchdog warns the rise in scams will get worse as the economy deteriorates.
Australian Competition and Consumer Commission chair Graeme Samuel said the aged and low-income families should be particularly vigilant about "too-good-to-be-true" opportunities. "Consumers have to be aware that scammers are eager as ever to part them from their hard-earned money," he said.
According to the ACCC, $32.9 million was lost to scam merchants in the year to November 30.
"Scammers target the vulnerable," Mr Samuel said.
They also target the gullible with Mr Samuel claiming the ACCC is often "amazed" at how brazen scam criminals have become.
"We've had instances of people losing hundreds of thousands of dollars through the Nigerian Bank scam," he said.
Among the most common scams are offers of "free" or cheap holidays.
With thousands of Australians being laid off, the ACCC is also seeing a rise in the number of scams offering big-paying jobs that simply don't exist.
The internet has made it easier for criminals operating scams to rip off gullible people. Just over $3.5 million was reported lost this year in computer software scams, such as betting schemes.
One of the most common complaints lodged with the ACCC involves people willing to buy houses at "fire-sale" prices, who then on-sell at greatly inflated prices.
Scam operators are also exploiting the tight rental market, offering fixed-term rental deals - but then failing to deliver after people have made upfront payments.
"These scams, in terms of the internet, are so ubiquitous that you can't pick up the number of people who are being caught," Mr Samuel said. "And you can see where scam merchants are targeting - they are targeting the vulnerable."