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Australians have lost over $33 mln in investment scams since January

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  • Australians have lost over $33 mln in investment scams since January

    For the first nine months of 2019 traders in Australia have lost over 33 million USD in investment scams, the latest data of the Australian Competition and Consumer Commission (ACCC) reveals.

    The losses suffered by Australian investors have increased by 16.4% compared to the AU$41.97 million ($28.41 million) lost in 2018 as a whole.

    The AU$48.85 million ($33.0 million) lost for the first nine months of the year are in connection to some 4331 reports, of which 41.2% involved financial loses.

    In 2018 the ACCC received 4864 complaints, with only 27.6% of them involving financial loss.

  • #2
    It's a very very big number but how much we can really go out further with that much ? I am totally disconnected from everything here ? I do want to make it possible out there. Also which currency is this ? Their local or our american dollars ? Oh I see now, that's BAD!

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    • #3
      The losses are stated in American dollars, and yes, the number is quite large unfortunately.

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