ACCC issues warning about rising scam incurring over $15.5 million losses
- Replies 6
In an age where technology has become an integral part of our daily lives, it's crucial to stay vigilant against the dark side of digital convenience.
The Australian Competition and Consumer Commission (ACCC) recently warned about another digital scam, which saw Australians lose $15.5 million last year alone.
Remote access scams prey on our trust in technology and our desire for quick fixes to technical issues.
Scammers—who pose as representatives from reputable technology companies like Microsoft—contact victims claiming there's a problem with their account, phone, or computer.
They sound professional and convincing, offering to help resolve the issue by instructing the victim to download screen-sharing software like AnyDesk, Zoho, or Teamviewer.
Once installed, the scammer gains control of the victim's device and proceeds to access bank accounts under the guise of resolving an issue.
They will also ask for passwords or one-time security codes, enabling them to complete fraudulent transactions.
When the victim realises what happened, it's often too late, and their funds have been drained.
ACCC's Deputy Chair Catriona Lowe expressed concern that scammers are not just syphoning small amounts but are draining entire bank accounts, with average losses now in the tens of thousands.
In the first quarter of 2024, reported losses to remote access scams surged by 52 per cent compared to the previous quarter.
The average loss per victim also increased by 57 per cent, with losses up to $17,943.
This is particularly distressing as it targets a demographic that may not be as tech-savvy.
The ACCC's National Anti-Scam Centre took several proactive measures to combat this growing threat.
They notified remote desktop companies about the cases involving their applications.
The ACCC also provided essential tips to help protect yourself from remote access scams:
As scammers constantly find ways to exploit vulnerabilities, awareness is our best defence.
If you've experienced a remote access scam or have concerns about your online safety, share your story in the comments below. Your insights could help someone else avoid falling victim to these fraudulent schemes.
The Australian Competition and Consumer Commission (ACCC) recently warned about another digital scam, which saw Australians lose $15.5 million last year alone.
Remote access scams prey on our trust in technology and our desire for quick fixes to technical issues.
Scammers—who pose as representatives from reputable technology companies like Microsoft—contact victims claiming there's a problem with their account, phone, or computer.
They sound professional and convincing, offering to help resolve the issue by instructing the victim to download screen-sharing software like AnyDesk, Zoho, or Teamviewer.
Remote access scams exploit software to gain control of victim's computers and laptops, which contain important financial information. Image Credit: Pexels/Teona Swift
Once installed, the scammer gains control of the victim's device and proceeds to access bank accounts under the guise of resolving an issue.
They will also ask for passwords or one-time security codes, enabling them to complete fraudulent transactions.
When the victim realises what happened, it's often too late, and their funds have been drained.
ACCC's Deputy Chair Catriona Lowe expressed concern that scammers are not just syphoning small amounts but are draining entire bank accounts, with average losses now in the tens of thousands.
In the first quarter of 2024, reported losses to remote access scams surged by 52 per cent compared to the previous quarter.
The average loss per victim also increased by 57 per cent, with losses up to $17,943.
This is particularly distressing as it targets a demographic that may not be as tech-savvy.
The ACCC's National Anti-Scam Centre took several proactive measures to combat this growing threat.
They notified remote desktop companies about the cases involving their applications.
The ACCC also provided essential tips to help protect yourself from remote access scams:
- Stop: If someone requests you to download software or an app over the phone, hang up immediately. Never share your banking information, passwords, or two-factor identification codes over the phone.
- Think: Question the legitimacy of the request. Take the time to contact the business using independently sourced contact details or verify the contact through their secure app.
- Protect: If you suspect you've been scammed, contact your bank immediately if you've shared financial information. You can also help others by reporting the incident to Scamwatch.
As scammers constantly find ways to exploit vulnerabilities, awareness is our best defence.
.png){kind=icon}
