Australians have lost more than $35.8 million in 2018 so far as a result of investment fraud, reveal the latest data provided by Scamwatch, the body operated by the Australian Competition and Consumer Commission (ACCC). In the first ten months of 2018, ACCC has received a total of 2,934 reports of investment scams, with the amount lost being the biggest for those aged between 55 and 64. According to the data, the most frequently used method of scamming people continues to be cold-calling.
Just love this report: Amount Lost: $35,853,001 Number of Reports: 2,934 Reports with financial losses: 33.7% So does that mean that 66.3% of reports made money off the scammers? Sounds like fans of 419Eater !
in some courts, winning actions do not offset losses in some courts. you collect based only on losing transactions.
A lot of people make foolish mistakes out of greed and are willing to believe even the most blatant scam, that applies universally to all traders, I think.