Investment fraud remains the leading cause of financial losses, accounting for over half of the total amount lost.
Phishing scams caused significant damage, with reported financial losses nearly tripling from $4.6 million in early 2024 to $13.7 million in 2025.
Scam losses in Australia surged in the first months of
2025, reaching nearly $119 million despite a drop in scam reports. Investment
fraud remains a major cause, accounting for more than half of the total losses.
Meanwhile, phishing and social media scams continue to
evolve, exploiting digital channels to target victims across all age groups.
Scam Reports Fall but Financial Losses Climb
According to the Australian National Anti-Scam Centre
and data from Scamwatch, Australians filed 72,230 scam reports between January
and April 2025, a 24% decrease from the previous year. However, the total financial losses reported climbed
by 29% to nearly $119 million.
Source: Scamwatch
Although this spike in losses is significant, it is still nearly 40% lower than the amount lost in early 2023, when scam-related financial
damages hit $193 million. This suggests scammers remain active, but victims are
losing more per incident.
Phishing scams, where fraudsters impersonate trusted
government or financial bodies, saw the largest jump in reported financial
damage. Losses in this category nearly tripled from $4.6 million in early 2024
to $13.7 million in 2025.
Investment scams continue to dominate the financial
impact of fraud, with Australians losing $59 million in just four months.
Although this represents a slight decline of 1.4% compared to last year, it
remains the single largest category of scam-related financial losses. Scammers
lure victims with promises of high, risk-free returns, making these scams
especially dangerous.
Source: Scamwatch
Financial losses linked to social media scams
increased by nearly 50%, with reported cases jumping from 2,232 to 3,336.
Monetary losses from social media fraud surged by 30%, reaching $23.4 million.
Investment Fraud Keeps Australians on Edge
Phone scams, meanwhile, saw an 11% reduction in
reports, but still caused the highest losses among contact methods, totaling
$25.8 million. This decline suggests some improvement in public awareness,
though phone fraud remains a costly threat.
Victims aged 65 and older suffered the greatest
financial damage, losing $33.1 million in early 2025. Yet, younger adults
reported more incidents, particularly those between 25 and 44 years old.
This data suggests that while younger people report
scams more frequently, older Australians bear a heavier financial burden. Scams
are evolving, and Australians must stay alert as fraudsters exploit new digital
channels to separate victims from their money.
Scam losses in Australia surged in the first months of
2025, reaching nearly $119 million despite a drop in scam reports. Investment
fraud remains a major cause, accounting for more than half of the total losses.
Meanwhile, phishing and social media scams continue to
evolve, exploiting digital channels to target victims across all age groups.
Scam Reports Fall but Financial Losses Climb
According to the Australian National Anti-Scam Centre
and data from Scamwatch, Australians filed 72,230 scam reports between January
and April 2025, a 24% decrease from the previous year. However, the total financial losses reported climbed
by 29% to nearly $119 million.
Source: Scamwatch
Although this spike in losses is significant, it is still nearly 40% lower than the amount lost in early 2023, when scam-related financial
damages hit $193 million. This suggests scammers remain active, but victims are
losing more per incident.
Phishing scams, where fraudsters impersonate trusted
government or financial bodies, saw the largest jump in reported financial
damage. Losses in this category nearly tripled from $4.6 million in early 2024
to $13.7 million in 2025.
Investment scams continue to dominate the financial
impact of fraud, with Australians losing $59 million in just four months.
Although this represents a slight decline of 1.4% compared to last year, it
remains the single largest category of scam-related financial losses. Scammers
lure victims with promises of high, risk-free returns, making these scams
especially dangerous.
Source: Scamwatch
Financial losses linked to social media scams
increased by nearly 50%, with reported cases jumping from 2,232 to 3,336.
Monetary losses from social media fraud surged by 30%, reaching $23.4 million.
Investment Fraud Keeps Australians on Edge
Phone scams, meanwhile, saw an 11% reduction in
reports, but still caused the highest losses among contact methods, totaling
$25.8 million. This decline suggests some improvement in public awareness,
though phone fraud remains a costly threat.
Victims aged 65 and older suffered the greatest
financial damage, losing $33.1 million in early 2025. Yet, younger adults
reported more incidents, particularly those between 25 and 44 years old.
This data suggests that while younger people report
scams more frequently, older Australians bear a heavier financial burden. Scams
are evolving, and Australians must stay alert as fraudsters exploit new digital
channels to separate victims from their money.
73% of Young Investors Say Traditional Wealth Building Is Broken – Here’s How They Trade Instead
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
