Feeds

Internet fraud still stings suckers

Australians twice as gullible as Americans

Choosing a cloud hosting partner with confidence

Australians fell prey to online scams to the tune of around $AUD93.5 million in 2012, and reported nearly 84,000 “scam-related contacts” to the Australian Competition and Consumer Commission (ACCC).

The Commission has just released the results of its 2012 report on scam activity, published as part of Australia's National Consumer Fraud Week 2013.

There's good news in the report, since 88 percent of the people reporting scams to the ACCC also reported that they suffered no financial loss (that is, they didn't fall for the scam), and most of those reporting loss were taken down for less than $500. The latter, the watchdog says, indicates that scammers prefer to buy their suckers in big-box outlets rather than one-by-one.

Out of the 83,803 total reports, just 13 percent – a little under 11,000 – related to computer hacking incidents. The vast majority of scammers worked variations on advanced fee fraud as pioneered by Nigerian “419” scams, except that today's scammer prefers phone calls over e-mail to lay the bait.

Rising through the charts with a bullet is the online shopping scam, up by 65 percent but still only worth $4 million in total.

The Register finds it interesting to extrapolate this data outwards. Australia's $4 annually per capita loss would, multiplied by the world's population of 7 billion, suggest that annual online scams are worth around $28 billion – which is somewhat less than the hundreds of billions some surveys suggest.

Australians do, however, appear to be more gullible than Americans. According to the Internet Crime Centre, that country's losses amounted to $525 million in 2012 – a mere $US1.66 per person. ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
Knock Knock tool makes a joke of Mac AV
Yes, we know Macs 'don't get viruses', but when they do this code'll spot 'em
Feds seek potential 'second Snowden' gov doc leaker – report
Hang on, Ed wasn't here when we compiled THIS document
Why weasel words might not work for Whisper
CEO suspends editor but privacy questions remain
DEATH by PowerPoint: Microsoft warns of 0-day attack hidden in slides
Might put out patch in update, might chuck it out sooner
BlackEnergy crimeware coursing through US control systems
US CERT says three flavours of control kit are under attack
prev story

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
New hybrid storage solutions
Tackling data challenges through emerging hybrid storage solutions that enable optimum database performance whilst managing costs and increasingly large data stores.
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.