Australians cheated on the internet on 1 million in a week

Scamwatch, the Australian Competition and Consumer Commission (ACCC) that monitors online fraud, has released the latest data that may shock you. Australian citizens lost $ 8 in just one week of July (July 15 - July 954), according to the report. This is an increase of nearly 308% compared to the seven days preceding this period. What is responsible for such strong growth? According to researchers - cryptocurrencies.

Kryptowalutomania

According to the Scamwatch report, in the first half of this year Australian citizens lost more than 26 million USD due to fraud. Reports were up to 1796, which gives an average of about 14 500 USD losses per single fraud.

Fraudsters have always used the latest trends. Popularization of innovative solutions, on which not everyone has managed to get to know each other well, makes it easier to "catch" a potential victim. Thus, the Australian report confirms that it is in the area of ​​cryptocurrencies that the strongest growth was recorded. So far, the scale of loss per fraud is relatively low, amounting to around USD 300, but the trend is clearly growing. The most common victims were people aged 25 to 34, who theoretically should be the most vigilant, but at the same time constitute the largest group of Internet users. But the biggest losses were reported by people aged 45-54.

Regulations are still insufficient

It is worth noting that the cryptocurrency trading in Australia requires registration from 3 on April 2018, and despite that it does not provide effective protection. Few country can boast an adequate degree of regulation and security within digital currency trading. The whole problem is that it is difficult to balance the rulers with an appropriate balance, which will ensure the safety of their users at the same time, and will not cause the market to stop developing or escape into another jurisdiction (example: Poland and Bit Bay migration to Malta).