Police, banks and social media platforms struggling to stop scammers who often use fake celebrity endorsements and AI in schemes
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Northern Territory police have warned that cryptocurrency investment scams are the biggest cause of financial harm to people there, with one resident losing nearly $5m to one scam.
The massive loss was revealed in a submission to a federal inquiry on law enforcement capability around cybercrime. NT police said residents in the territory had suffered “significant losses” ranging from hundreds of thousands of dollars to the $4.98m lost by one person in 2022.
Continue reading…Police, banks and social media platforms struggling to stop scammers who often use fake celebrity endorsements and AI in schemesFollow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcastNorthern Territory police have warned that cryptocurrency investment scams are the biggest cause of financial harm to people there, with one resident losing nearly $5m to one scam.The massive loss was revealed in a submission to a federal inquiry on law enforcement capability around cybercrime. NT police said residents in the territory had suffered “significant losses” ranging from hundreds of thousands of dollars to the $4.98m lost by one person in 2022. Continue reading…