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A new federal government initiative has been launched to better educate the public on detecting and protecting against scams.
The Albanese government has launched a TV and social media-driven campaign aimed at preventing scams by boosting awareness.
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The Fighting Scams Campaign, which includes TV commercials and social media advertisements running until 22 March, is designed to “equip Australians with simple, actionable strategies to guard against scams,” according to the federal government.
The campaign’s three key messages are:
1. Stop: before sharing personal information.
2. Check: that you know who you’re dealing with.
3. Protect: against scams by taking actions like reporting them to Scamwatch.
Launching the campaign on Sunday (12 January), Assistant Treasurer and Minister for Financial Services, Stephen Jones, said: “This campaign is critical to arming Australians with tools and tips to keep their money safe from scammers.
“Anyone can be a target of a scammer, so whether you’re 20 or 65, everyone should stay scam alert.
“The Albanese government has made scams a priority because we get the financial and emotional turmoil victims face and we want to rid Australia of this scourge.”
Customer-owned banks welcome campaign
Members of the finance industry have welcomed the new campaign effort. The CEO of the Customer Owned Banking Association (COBA), Michael Lawrence, said the campaign helps raise awareness about scams while providing a practical checklist to safeguard against fraudsters.
“Scammers are becoming increasingly sophisticated, so we all need to be alert. Banks are committed to taking steps to protect their customers, and together, we can all take proactive measures to stay safe,” Lawrence said.
“Our member banks frequently encounter heartbreaking situations where they warn customers that they may be the target of a scammer, only to have those warnings dismissed. This underscores the need for widespread public education about scams.
“We must equip everyone with the knowledge and tools to recognise these sophisticated tactics.”
Customer-owned banks are committed to working with the government and other industries to combat scams and protect Australians from financial harm, Lawrence said.
The government has also been working on new legislation – the Scams Prevention Framework Bill – that will put obligations on banks, social media companies, and telcos to ensure they are preventing scams (or face “hefty fines and compensation for victims”).
Other work undertaken by the federal government to protect Australians from cyber crime includes the National Anti‑Scam Centre, run by the ACCC, which collaborates with government, law enforcement, and private sector experts to disrupt scams, analyse trends, and educate consumers on scam prevention.
Since its launch, it has reportedly helped reduce losses from scams by over 40 per cent in the financial year 2024 (compared to the previous year), according to Scamwatch data.
Cyber security a ‘megatrend’ for brokers
The growing threat of scams is forcing brokerages to focus on their cyber security.
Big four lender National Australia Bank (NAB) flagged cyber security as one of the biggest challenges facing the broking industry, urging brokers to protect against the risk of cyber crime.
Similarly, LMG included a rise in cyber threat risks among a list of eight predictions it expects for brokers in 2025.
Recruitment to protect against cyber crime is also a pressing issue. A recent report from workforce management platform Rippling found that local skill shortages remain a key concern for businesses, with 30 per cent of business leaders across all industries citing high demand for cyber security expertise.
[Related: Most Australians have experienced a cyber attack: NAB]
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