Understanding the new scam landscape in Australia

Australia’s scam landscape is no longer defined by how many scams occur, but by how much damage they cause. While the overall number of scam reports has begun to stabilise, financial losses continue to rise sharply. This imbalance reflects a move away from mass, low value attempts towards fewer, more sophisticated scams that are deliberately designed, deployed, and executed to extract larger sums. 

Recently released data by the Australian Competition and Consumer Commission (ACCC) reinforces what forensic professionals are seeing on the ground. Scam activity is becoming increasingly targeted and coordinated. Criminal networks are no longer relying on sheer volume to generate returns. Instead, they are refining their methods, leveraging technology and data to increase credibility.

From opportunistic fraud to industrialised crime 

This change in scam dynamics is most evident in how attacks are now constructed and executed. Rather than relying on indiscriminate outreach, scam operations are increasingly built around structured networks – including specialist roles and sophisticated tools that enable longer engagement and higher-value extraction. 

These schemes are designed to cultivate credibility over time. Victims are often drawn into extended interactions, exposed to tailored narratives and encouraged to make multiple transactions, significantly amplifying financial harm even when overall reporting volumes remain steady. 

Investment scams continue to account for the largest share of losses, reflecting their capacity to exploit market uncertainty, digital investment platforms and growing consumer participation in online financial activity. However, they are far from isolated. Payment redirection, romance, phishing and remote access scams also remain prevalent, demonstrating how a diverse range of tactics are being deployed within an increasingly coordinated threat environment. 

Technology as a force multiplier 

Technology is playing a central role in enabling this next generation of scams. Artificial intelligence (AI), automation and data aggregation tools are being used to enhance authenticity, personalise messaging and scale operations without sacrificing credibility. 

Criminals are increasingly able to replicate trusted brands, impersonate professionals, mimic communication styles and adapt narratives in real time. These capabilities blur the line between legitimate and fraudulent interactions, making scams harder to detect for individuals and organisations alike. 

At the same time, access to breached data and information harvested from online platforms allows scammers to approach victims with a level of familiarity that accelerates trust. This convergence of data, technology and behavioural insight has fundamentally altered the risk landscape. 

Digital platforms as the frontline 

Online channels are now the primary delivery mechanism for scams and associated data theft. Social media, websites, messaging platforms and online investment tools have become the frontline, not only because of their reach, but because of the trust users place in these ecosystems. 

Because people now spend so much of their time online, digital platforms have become the natural environment for scams. By operating within familiar digital environments, they reduce friction and lower suspicion, often transitioning victims seamlessly from legitimate platforms into controlled communication channels. 

The impact is not evenly distributed, with older Australians continuing to experience a disproportionate share of financial losses, reflected in both higher average transaction values and sustained targeting by scam operators. As scams become more sophisticated, traditional assumptions about vulnerability are becoming less reliable and no demographic is immune. 

Progress with no room for complacency 

Encouraging progress has been achieved in recent years through coordinated anti-scam efforts. Enhanced intelligence sharing and cross-sector collaboration have disrupted scam infrastructure and reduced some avenues of attack. Financial institutions, telecommunications providers, digital platforms, and regulators are increasingly aligned in recognising the scale of the challenge. 

However, the pace of adaptation on the criminal side remains relentless, as one channel is disrupted, another emerges. As controls strengthen, scams evolve to bypass them. This dynamic highlights the need for greater sustained, and more coordinated efforts rather than isolated or reactive responses. 

Rethinking the response 

The changing nature of scams demands a corresponding shift in how organisations approach prevention, detection and response. Traditional controls, while necessary, are no longer sufficient on their own. 

Effective strategies increasingly require an ecosystem mindset, one that integrates data analytics, technology, behavioural insight, and human expertise. Faster detection, improved information sharing and clearer escalation pathways are critical to limiting harm once an incident occurs. 

Equally important is recognising that scams are no longer solely a consumer issue. They present material financial, operational and reputational risks for organisations, particularly where systems, processes or staff interactions are exploited as part of the scam lifecycle. As scam activity becomes more embedded within legitimate business channels, organisations can be impacted directly through payment diversion, data compromise or indirect exposure via customers, suppliers and employees. This broadening risk profile reinforces the need for scams to be treated as a core business risk, not just a consumer protection challenge. 

A collective challenge 

The latest ACCC data serves as a reminder that scams are a shared problem with shared consequences. No single organisation, sector or agency can address the issue in isolation. The most effective responses continue to emerge where government, industry and the community work together, combining intelligence, aligning incentives and maintaining a clear focus on disruption as well as victim support. 

As scams become bigger, smarter and harder to spot, vigilance, collaboration and adaptability will remain essential. The threat may be evolving, but so too must the response. 

How BDO can help strengthen organisational resilience against scams 

BDO’s forensic services team works with organisations across government and industry to help identify scam exposure, strengthen controls and respond effectively when incidents occur. Drawing on forensic accounting, forensic technology, investigations and data analytics, BDO supports clients across the full scam lifecycle. Contact us to learn more about how we can support your business.