[Source: Reuters]

Australians have lost at least $119 million to scams in the first four months of 2025, as phishing cons almost tripled in value.

The consumer watchdog’s National Anti-Scam Centre is calling on businesses to join forces to share data to combat increasingly sophisticated frauds.

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

“Sharing information is a key step towards improving community safety – organisations, such as banks, digital platforms, and telecommunication companies, can help disrupt scams faster and reduce the harm they cause.”

While the number of overall scam reports in the first four months of 2025 fell by almost a quarter to 72,230, value of losses swelled to $119 million, Scamwatch data showed.

Phishing scams – where criminals use trusted channels to trick people into revealing personal information – accounted for $13.7 million in losses, nearly tripling compared to $4.6 million in early 2024.

The use of social media to target victims is on the rise, with the number of people reporting losses jumping by almost half to more than 3300, as total losses spiked by more than 30 per cent to $23.4 million.

Phone scams are on the decline, falling 11 per cent compared to early 2024, but they still account for the biggest proportion of losses, with $25.8 million scuppered between January and the end of April.

Australians aged 65 and older were impacted most by scams with losses totalling more than $33 million.

“While the average and median losses per victim have slightly decreased, the rise in overall financial loss and the number of people being impacted is a reminder to stay alert,” Ms Lowe said.

“We encourage all Australians to report suspicious scam activity, even if no money is lost as you can provide us with vital intelligence, and talk to friends and family to help spread awareness.”

While a piece of data could seem unremarkable on its own, it could help form powerful intelligence when combined with other leads, Ms Lowe said.

“With data held across the ecosystem, sharing data with the National Anti-Scam Centre enables those vital connections to be made,” she said.

The watchdog urged Australians never to give away personal information if uncertain and noted scammers would try to create a sense of urgency.

The ACCC advised people to hang up the phone and call back organisations via a trusted number to verify the contact, and to call their bank immediately if money is lost.

People worried after handing over personal information should call IDCARE on 1800 595 160.

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