Scammers on a record run

AUSTRALIANS are handing over more than $4 million a month to scammers running dodgy investments.

Despite growing awareness, more people appear to be falling victim to scammers, with losses tipped to exceed $100 million this year.

Last year, Scamwatch and the Australian Cybercrime Online Reporting Network recorded $64.6 million in losses through investment scams while already this year reports are at $26 million.

“The losses to investment scams are horrific,” ACCC’s Delia Rickard said.