The ever increasing issue of internet fraud and the personal cost for victims was reported on the 7:30 Report, 20th January 2014.
The Australian Competition and Consumer Commission reported that they received more than 28,000 reports of so-called advanced fee fraud, but police say many more cases are not reported because of the social stigma involved in falling for a scam.
Police estimate at least $7 million worth of cash transfers alone are sent from Australia to international fraudsters every month, leaving many Australians broke and emotionally shattered reported the ABC.
Although the human cost of internet fraud and identify theft can never be compensated, there are insurance policies that extend to provide cover for this type of loss.
If you would like further information, please speak to one of our brokers on 1300424627.
Click here to watch the full report from ABC 7:30 report – Monday 20th January 2014.
