Aussie savings accounts 'lose $1.5m per month to scammers'

Australians are losing as much as $1.5 million a month from their bank accounts as a result of online fraud, a new report has revealed.

The study, from the Australian Competition and Consumer Commission, revealed that over 50 people a week fall victim to such scams, according to the Courier-Mail.

Last year, reported incidents of online fraud rose by 40 per cent, with criminals using fake emails to fool customers into handing over their passwords and other personal details.

And the number of consumers affected could be higher than thought, as experts believe many people may be too embarrassed to admit they have been a victim of cyber crime.

"The days when scammers were opportunistic amateurs are long past and people need to recognise this," Peter Kell of the Australian Consumer Fraud Taskforce was quoted by the news source as saying.

Prior to the festive season, many scammers were aiming to extract personal information from online shoppers using ploys such as the promise of free iPads or store gift cards, Australian Macworld reports.ADNFCR-1761-ID-800449299-ADNFCR