Why scam awareness matters - A business imperative in 2025

Scams are no longer just a consumer issue; they are a critical business risk. In 2024, Australians lost more than $2 billion to scams. While reported losses have slightly declined in 2025, the threat remains pervasive and increasingly sophisticated. As Scams Awareness Week (25 to 29 August 2025) unfolds, businesses must take a proactive stance. This year’s theme, ‘Stop. Check. Protect.’ offers a practical framework for safeguarding against scams, but awareness alone is not enough.

Stop. Check. Protect. – A framework for action

Led by the National Anti-Scam Centre, the campaign encourages Australians to:

• Stop – Pause before sharing money or personal information
• Check – Verify the legitimacy of requests using trusted sources
• Protect – Act quickly if something feels wrong: contact your bank, change passwords, and report scams to Scamwatch.

For businesses, this framework must be embedded into daily operations, especially in finance, procurement, and human resources, where scams often strike. It’s not just about individual vigilance; it’s about creating a culture of scam awareness.

Emerging scam trends - AI-powered deception

Artificial intelligence (AI) is revolutionising industries, but it’s also giving scammers powerful new tools. We are seeing a sharp rise in AI-driven scams targeting both individuals and organisations, with increasingly difficult to detect and prevent tactics.

AI is reshaping the scam landscape. From hyper-realistic deepfake impersonations to voice cloning and AI-generated phishing emails, scammers are using advanced technologies to exploit trust, urgency, and embarrassment. These tactics are no longer hypothetical, Australian businesses have already suffered significant financial losses due to AI-enabled fraud. Examples of AI scams include:

• Deepfake impersonations - Hyper-realistic videos and audio clips of public figures are being used to promote fraudulent schemes. One retiree lost USD $690,000 (AUD $1,070,600) after being convinced by deepfake videos of Elon Musk 
• AI voice cloning - Scammers replicate voices with just seconds of audio. A United Kingdom energy firm lost over €200,000 (AUD $361,000) after a Chief Financial Officer received a call from what sounded like their Chief Executive Officer requesting an urgent transfer 
• Image exploitation - AI-generated explicit images are used to extort victims, often teenagers. Education and swift reporting are key to prevention 
• Fake support bots - AI-powered chatbots on fraudulent websites trick users into sharing sensitive information.

These tactics are designed to bypass traditional scam detection methods and exploit trust, urgency, and embarrassment.

Beyond the headlines - What BDO’s Scam Culture Report reveals

While AI-powered deception is dominating the conversation, BDO’s Australian Scam Culture Report (March 2025) reveals a broader and more complex scam landscape. From invoice interception to identity theft, the data paints a clear picture: scams are evolving, and businesses must evolve with them. Understanding these trends is the first step in building resilience, these trends include:

• Business Email Compromise (BEC) - Scams remain one of the most damaging threats, with criminals intercepting invoices or impersonating executives to divert funds
• Investment scams - Still account for 51 per cent of reported losses, though their financial impact dropped by $10 million
• Scam fatigue - Is a growing issue, with employees becoming desensitised to warnings, making smarter awareness strategies essential
• Dark web activity - Shows rising premiums for stolen identity documents, increasing the risk of identity-based fraud.

As AI continues to evolve, so too must our defences. Businesses must invest in scam literacy, update fraud response protocols, and ensure their teams are equipped to recognise and respond to emerging threats.

A call to action

Scams Awareness Week is more than a campaign; it’s a catalyst for change. Businesses must treat scam prevention as a strategic priority. That means:

• Reviewing internal controls and escalation pathways
• Training staff to recognise and respond appropriately to scams
• Engaging with trusted advisers to build resilience.

By adopting the Stop. Check. Protect. framework and partnering with experts like BDO, organisations can reduce risk, protect their reputation, and empower their people to act with confidence.

How BDO can help

At BDO, we understand that scam awareness is not optional; it’s a business imperative. Our forensic services team can help strengthen your organisation’s risk preparedness against scams. Contact our forensic experts if you require assistance in preventing, identifying, and responding to suspicious activity.