Approximately 90% of Australians have been targets of internet scams with 18% adhering to the requests of a fraud, with nearly $1 billion lost each year to cybercrime, a new survey has found.
The Australian Institute of Criminology has warned in its new report, based on a survey of 919 respondents, it found that while 5% replied to more conventional scams such as phishing or money transfers, 10% have been tricked by more modern, elaborate frauds.
One example is of a respondent who paid tens of thousands of dollars for legal fees or stamp duties for a promised $2.5 million that was non-existent.
The report states that newer crimes may be more successful as people are unaware of certain tactics.
At a National Identity Crime Symposium in Queensland yesterday, experts said that identity fraud costs the Australian economy up to $3 billion a year.
Patrick Stafford is a freelance journalist and a former deputy editor of SmartCompany.
