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Our November 2023 Scam Awareness Survey insights.

5 minute read
24 November 2023
Corporate Announcements

According to the Australian Competition and Consumer Commission (ACCC), Australians lost a record $3.1B to scams in 2022. To understand how people feel about scams, we launched a Scam Awareness Survey.

The survey was completed by 402 individuals, with the key insights arising from the survey summarised below:


How do people rate their overall knowledge of scams that exist in Australia?

The survey presented several key insights, including:

  • 43% of people surveyed stated they felt their knowledge about scams in Australia was either above average or well above average
  • the most confident age group was the 18-29 year old, with 55% stating their knowledge of scams was either above or well above average
  • the age group with the lowest confidence level in their knowledge of scams were those aged 60-69, with 18% stating they felt their knowledge levels were either below or well below average
  • trom a gender perspective, men who responded to the survey were more confident in their knowledge of scams, with 53% indicating that they felt their understanding of scams in Australia was either above average or well above average (compared to 33% of women).

 

How quickly do people believe they can identify a scam, and how does this compare to the actual numbers of people who responded they had been a scam victim?

When asked how quickly they think they can identify a scam, the survey provided several key insights, including:

  • 93% of people surveyed indicated they believe they can detect a scam immediately or reasonably quickly
  • despite the above levels of confidence in detecting a scam, when asked if they had ever been scammed, 21% of respondents indicated that they had (22% of women and 20% of men indicated they had been scammed)
  • of those who had fallen victim to a scam, the most common scams that had affected people involved in the survey were:
    • Product or service scams
    • Phishing scams
    • Dating and romance scams
  • when asked if they were concerned about being scammed in the future, 33% of respondents indicated that they were.

 

Which age groups are the most vulnerable to falling victim to a scam, and why?

When asked to detail which age groups they feel are most vulnerable to scams, people responded in the following manner (with 1 being the group being perceived as the most vulnerable to scams and 6 being the group perceived as least vulnerable to scams):

  1. 70 +
  2. 60 – 69
  3. 50 – 59
  4. 40 – 49
  5. 18 – 29
  6. 30 - 39

 

When respondents were asked why they believe certain people fall victim to scams, the top three reasons given were:

  1. They have a lack of awareness of the scams that are out there
  2. They lack the technological skills to be able to detect a scam effectively
  3. They are generally more trusting than others.

 

Where are people educating themselves about scams?

When asked where they get their information about scams, the top 3 responses were:

  1. The media
  2. The internet
  3. Friends and family

Government websites such as ScamWatch and MoneySmart and corporate organisations such as Banks and telcos ranked 4th and 5th, respectively.

 

What more can be done to assist people with dealing with scams?

When asked what more can be done to assist people in avoiding scams, several key themes emerged, including:

  1. More media coverage on scam-related issues, highlighting the media's important role in creating awareness
  2. Additional government and corporate educational campaigns on the latest scam trends to create awareness and build resilience against scams in the general community
  3. Technological improvements that are designed to inhibit scammers' activities
  4. Tough law enforcement measures on scammers when caught to deter others from undertaking scams in the future.

Further media information:

Georgina McGuinness

Media Relations
Beyond Bank

T: 0488 247 777 
E: georgina@mcguinnessmedia.com.au


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