June 09, 2021 BY Steffy Bogdanova

Australian consumers lose $400,000 to smartphone app Ponzi scheme

An ACCC spokesperson stated: The ‘Hope Business’ app is a scam. Victims were encouraged to transfer funds in a Ponzi scheme. They were initially able to withdraw funds which encouraged them to recommend the application to family and friends, but they were subsequently unable to access their money. The same spokesperson then stressed that anyone…

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June 07, 2021 BY Steffy Bogdanova

Australians lost $328 million to investments scams in 2020

The ACCC said in the report: It is not surprising that in 2020, 25% of all scam reports involved the loss of personal information, up from 16% in 2019. Loss of personal information was even higher among Indigenous consumers, where 36% of all scam reports involved the loss of personal information. The increasing value of…

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February 04, 2020 BY Steffy Bogdanova

Can a BPH investee have a positive influence over East Coast gas crisis?

The following article was written by Jonathan Jackson. Late in 2019, the Australian Competition and Consumer Commission (ACCC) has confirmed that domestic wholesale gas prices have risen two to three times higher than historical prices. This has put many trade-exposed Australian manufacturers under extreme pressure. There is also continuing uncertainty about the longer-term supply outlook.…

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crypto scam protection interview
August 27, 2018 BY Valentina Kirilova

Scammers nick $4.4M in 2018 from online bank access: ACCC

Scammers are increasingly catching out people by impersonating well-known businesses or the police so they can get access to computers and steal money or banking information. The ACCC’s Scamwatch website has recorded a significant spike in these types of scams, known as remote access scams, with more than 8000 reports recorded in 2018 so far…

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May 21, 2018 BY LeapRate Staff

Investment and Binary Options scams rise in record $340 million 2017 in Australia

The Australian Competition and Consumer Commission (ACCC) has reported that Australians lost more money to scammers in 2017 than in any other year since the ACCC began reporting on scam activity. According to the ACCC’s ninth annual Targeting scams report released today, more than 200,000 scam reports were submitted to the ACCC, Australian Cybercrime Online Reporting Network…

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Melbourne Cup Day betting scams
November 06, 2017 BY LeapRate Staff

Australia consumer watchdog warns of sports investment and betting scams on Melbourne Cup Day

Australia's consumer watchdog Australian Competition and Consumer Commission (ACCC) has issued a warning for 'Punters' to watch out for betting and sports investment scams which falsely promise high odds and big returns on the annual Melbourne Cup Day. Melbourne Cup Day is Australia’s best known horse racing event, held on the first Tuesday of November every…

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June 19, 2017 BY Valentina Kirilova

Australia ACCC warns of phishing scams targeting consumers

The Australia Competition and Consumer Commission (ACCC) just warned people to stay alert to ‘phishing’ scammers pretending to be from well-known businesses and government departments trying to con unsuspecting victims out of their personal information and money. So far in 2017, the ACCC’s Scamwatch has received more than 11,000 reports of this scam, with nearly…

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