Consumer Fraud in Australia: Costs, Rates and Awareness of the Risks in 2008

• NCJ Number: 229814
• Author(s): Russell G. Smith; Carolyn Budd
• Date Published: September 2009
• Length: 6 pages
• Sale Source: Australian Institute of Criminology
• Publication Format: Document
• Publication Type: Survey
• Language: English
• Country: Australia
• Note: AIC Trends & Issues in Crime and Criminal Justice, No. 382, September 2009

Annotation

This paper examines the current evidence of the cost, extent of, and awareness of consumer fraud in Australia.

Abstract

In 2008, the ABS found that approximately 5 percent of the Australian population reported being victimized by consumer scams, with personal losses reaching almost $1 billion. This paper compares the findings of the ABS survey with those gathered by the AIC during the annual fraud awareness-raising activities conducted by the Australasian Consumer Fraud Taskforce. In 2008, a self-selected sample of 919 respondents to the AIC's online survey reported being victimized by a wide variety of scams, including those relating to fictitious lotteries, phishing scams, financial advice, and other attempts to elicit personal information from respondents. Individuals from all age groups were targeted in these scams, with older Australians being victimized to a similar extent to those in their middle years. Armed with an understanding of the nature and scope of the risks, consumer protection and other regulatory agencies can tailor their fraud prevention activities to maximize their impact - therefore reducing the extent to which consumers take up offers which are too good to be true. Tables and references Published Abstract)