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Newsletter Articles

Australia scores early success in the war on scams

24 Apr 2024 FinTech

The recent quarterly update from the National Anti-Scam Centre published 12 March 2024, revealed an optimistic decline of 43% in the overall scam losses in the year 2023 December quarter. In particular, losses by cryptocurrency saw the sharpest decline by 74%. This is likely to be further reduced in the coming years, with the report detailing plans for cryptocurrency scam data to be collected commencing in early 2024, to begin the necessary work to begin making scam data available to the Digital Currency Exchange sector.