COVID-19 spike in scams and unauthorised transactions : vima

COVID-19 spike in scams and unauthorised transactions


COVID-19 spike in scams and unauthorised transactions
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The Australian Financial Complaints Authority (AFCA) has recorded a 23 per cent jump in complaints related to unauthorised transactions and financial scams in the second half of 2020, as scammers and fraudsters became more active during the coronavirus pandemic.
It is not just the volume of the more than 3000 complaints but also the sums involved. Some amounts topped $1 million.
Justin Untersteiner, chief operating officer at the Australian Financial Complaints Authority, says there has been a spike in complaints concerning unauthorised transactions and scams during COVID-19

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