Scammers are double-dipping by targeting victims and offering services to recover lost money.
The National Anti-Scam Centre is urging Australians who have had money stolen by scammers to be wary of offers to recover their money for an upfront fee.
Australian Competition and Consumer Commission (ACCC) Deputy Chair Catriona Lowe said reports that involved a money recovery element were on the rise.
Ms Lowe said between December 2023 and May this year, Scamwatch received 158 reports with total losses of over $2.9 million, including losses from the original scam.
She said the number of reports increased by 129 percent when compared to the previous six months.
“Victims of previous scams are easily identified by criminals who commonly keep and sell information about individuals they have exploited,” she said.
Ms Lowe said Australians aged 65 and older were the largest reporting group and suffered the highest average losses.
“Money-recovery scams are damaging and cruel. Criminals prey on people who have already been victims of a scam who hope to get their money back. They are another example of scammers’ willingness to exploit people’s desperation at a vulnerable moment.
“Scammers pose as trusted parties such as government agencies, lawyers, or even charities,” she said.
“We are also aware of criminals pretending to be a victim themselves and claiming that a specific person or entity helped them get their money back.”
Ms Lower said many scammers promised victims they could recover their losses for an up-front fee.
“However, even legitimate scam investigation services are rarely able to recover money for scam victims.”
She said the National Anti-Scam Centre does not recommend victims of scams engage with services or individuals who claim they can recover stolen money.
