The chance of you getting your money back if you're scammed has been revealed

Show Business and Finance Publications

Mon, February 3, 2025

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Sun, February 2, 2025

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Fri, January 31, 2025

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Thu, January 30, 2025

[ Thu, Jan 30th ]: Forbes

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[ Thu, Jan 30th ]: Reuters

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Wed, January 29, 2025

[ Wed, Jan 29th ]: Indiatimes

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[ Wed, Jan 29th ]: cnbctv18

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[ Wed, Jan 29th ]: Forbes

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The chance of you getting your money back if you're scammed has been revealed - and it's dire

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Your Reliance on Business Jargon Is Sabatoging Your Succcess

The chance of you getting your money back if you're scammed has been revealed - and it's dire

//business-finance.news-articles.net/content/202 .. -re-scammed-has-been-revealed-and-it-s-dire.html

Published in Business and Finance on Wednesday, January 29th 2025 at 16:20 GMT by Couriermail
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

It is seen as a last bastion of hope for scam victims who have lost everything, but for many, dealing with the Australian Financial Complaints Authority (AFCA) has had the opposite effect.

- Click to Lock Slider

The article from News.com.au discusses the grim reality of recovering money lost to scams in Australia. According to the Australian Competition and Consumer Commission (ACCC), the likelihood of getting your money back after falling victim to a scam is extremely low. The ACCC's Scamwatch reported that in 2022, Australians lost over $569 million to scams, with recovery rates being dire. Only a small fraction of the funds lost to scams are ever returned, with banks and financial institutions often not liable for reimbursing victims unless negligence on their part can be proven. The article highlights the challenges victims face, including the sophistication of scams, the difficulty in tracing funds, and the lack of legal recourse, painting a bleak picture for those hoping to reclaim their losses.

Read the Full Couriermail Article at:
[ https://www.news.com.au/finance/money/costs/the-chance-of-you-getting-your-money-back-if-youre-scammed-has-been-revealed-and-its-dire/news-story/9002573d72d64a5acd12ac07e84ad0c2 ]

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