{"id":67010,"date":"2022-09-12T13:31:32","date_gmt":"2022-09-12T10:31:32","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=67010"},"modified":"2025-09-07T04:24:51","modified_gmt":"2025-09-07T01:24:51","slug":"australia-records-rise-in-bitcoin-scams","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/australia-records-rise-in-bitcoin-scams\/","title":{"rendered":"Australia records rise in bitcoin scams"},"content":{"rendered":"<p>From January to July 2022, Australians lost AUD 242.5 million ($167 million) due to investment- and cryptocurrency-related scams. Data from <a href=\"https:\/\/www.scamwatch.gov.au\/scam-statistics?scamid=26&#038;date=2022\">Scamwatch<\/a>, operated by <span data-descr=\"Australian Competition and Consumer Commission\" class=\"old_tooltip\">ACCC<\/span>, show this.<\/p>\n<p>This figure is 36% higher than the total loss for the entire 2021 year, which amounted to AUD 178.2 million ($122.7 million).<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/OsLIf1tV_euXfsZovIQ5V4b5VchgVVAL31Dy72TRz_Wv3XMiYxCXpmytZtD7N5m6kLtDd7udNkn4HvGPAxaiHpGygtWJpkkEaEjM3TQo9KlwLMoRgaS160iLjT2p2Ji7uApJc2mqZqPCA7PRadQv8zmKASt5Abc5bttrjmMBr4EHW57wosne37WjSw\" alt=\"\u0412 \u0410\u0432\u0441\u0442\u0440\u0430\u043b\u0438\u0438 \u0437\u0430\u0444\u0438\u043a\u0441\u0438\u0440\u043e\u0432\u0430\u043b\u0438 \u0440\u043e\u0441\u0442 \u0447\u0438\u0441\u043b\u0430 \u0431\u0438\u0442\u043a\u043e\u0438\u043d-\u0441\u043a\u0430\u043c\u043e\u0432\"\/><figcaption>Data: Scamwatch.<\/figcaption><\/figure>\n<p>The most vulnerable demographic was people aged 55 to 64.<\/p>\n<p>ACCC representatives urged banks to invest in fraud-prevention programs.<\/p>\n<p>According to <a href=\"https:\/\/www.abc.net.au\/news\/2022-09-08\/scams-accc-banks-asic-afca-crypto-invoice-cyber-security\/101412066\">the report<\/a> by the Australian Broadcasting Corporation, advocacy groups are urging reforms requiring banks to verify whether the recipient&#8217;s name matches the account number when conducting online transactions.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The key reform is to shift this responsibility from individual consumers to banks when it comes to losses from fraud,&#8221; said Gerard Brodie, executive director of the Consumer Action Law Center.<\/p>\n<\/blockquote>\n<p>In turn, financial institutions are actively promoting the use of PayID technology. It allows clients to see the name attached to the bank identifier (BSB), and the account number.<\/p>\n<p>Earlier, Australian Securities and Investments Commission (ASIC) commissioner Sean Hughes said that investing in digital assets is a form of &#8220;extreme risk,&#8221; because they are &#8220;very volatile and inherently complex&#8221;.<\/p>\n<p>In May, the Commonwealth Bank of Australia, the country\u2019s largest bank, indefinitely paused its second pilot program to offer cryptocurrency trading services and closed access to the first due to <a href=\"https:\/\/u1f987.com\/en\/news\/australias-largest-bank-delays-crypto-trading-rollout-amid-regulator-uncertainty\">regulatory uncertainty<\/a>.<\/p>\n<p>In June, the mayor of the Australian city of Gold Coast, Tom Tate, did not rule out that residents could in the future pay taxes in digital assets <a href=\"https:\/\/u1f987.com\/en\/news\/gold-coast-mayor-hints-at-accepting-cryptocurrency-for-tax-payments\">taxes in digital assets<\/a>.<\/p>\n<p>Read ForkLog\u2019s bitcoin news in our Telegram \u2014 cryptocurrency news, prices, and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>From January to July 2022, Australians lost $167 million due to investment- and cryptocurrency-related scams.<\/p>\n","protected":false},"author":1,"featured_media":67011,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[108,1154],"class_list":["post-67010","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-australia","tag-crimes"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67010","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=67010"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67010\/revisions"}],"predecessor-version":[{"id":67012,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/67010\/revisions\/67012"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/67011"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=67010"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=67010"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=67010"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}