Most people who lose money to a scam were not careless. They were busy, the request looked ordinary, and the person asking sounded legitimate. If you have received an email asking you to update the bank details on an invoice, or a call or message from someone claiming to represent your bank, a government agency or a regulator, the useful question is narrow: what can I check, and where, before money moves?
This guide describes scam patterns reported in Australia, separates what is documented from what is practical interpretation, and points you to the current official sources for alerts and reporting. It does not attempt to be exhaustive, and it is not a substitute for checking those sources on the day you need them.
The reported scale, and why the numbers matter less than the method
Government reporting gives a sense of volume. Figures published through the National Anti-Scam Centre's annual Targeting scams report put combined losses reported to Scamwatch, ReportCyber, IDCARE, the Australian Financial Crimes Exchange (AFCX) and the Australian Securities and Investment Commission (ASIC) at $2.18 billion, an increase of 7.8%. Within that reporting, Australians lost more than $837 million to investment scams in 2025 and more than $166 million to payment redirection scams.
Two things follow from those figures. First, payment redirection is a comparatively small slice of total losses by dollar value but a very common mechanism, because it sits inside ordinary transactions rather than inside an "investment" decision. Second, the reported totals only capture what people reported; the report itself notes lessons drawn from people who reported a scam but did not lose money or personal information, which suggests that early reporting and early checking change outcomes.
Treat the figures as a snapshot, not a forecast. Confirm the latest period and breakdown directly in the current Targeting scams report before relying on any specific number.
Pattern one: payment and invoice redirection
The pattern is simple enough that it is easy to miss. You are expecting to pay an invoice — a builder, a supplier, a real estate agent, a solicitor, a contractor. An email arrives from what appears to be that business advising that their bank details have changed, sometimes with a plausible reason such as an audit, a new account or a system upgrade. You pay. The real business chases the unpaid invoice weeks later.
The common variations are an email address that differs from the genuine one by a single character or a different domain ending, a "reply-to" address that is not the sender's address, an attached or re-sent invoice with new account details, and a request arriving at the exact moment a payment is due. In some cases the scammer has accessed or spoofed the genuine email thread, so the message sits inside a real conversation.
What this means in practice (interpretation, not a documented rule): treat any change of bank details as a change of instruction requiring independent confirmation. Contact the business using contact details you source yourself — a number from their website, a prior contract, or a previously verified email — not the details in the message requesting the change. Confirm the account name matches the business name before transferring.
Pattern two: impersonation of trusted organisations
Impersonation removes the need for the scammer to build trust from scratch; they borrow it. Reported variations include people claiming to be from a bank, a telco, a delivery company, a government agency or a regulator.
ASIC has specifically been impersonated in investment scam approaches, which is why ASIC's guidance referenced in this area encourages people to keep informed about investment scam alerts, including scams impersonating ASIC. The ACCC's consumer guidance similarly treats unexpected contact as the primary warning sign rather than the content of the message.
The mechanics vary: a link that leads to a convincing copy of a real website, a request for a one-time passcode or to "verify" a transaction, a claim that your account has been compromised and funds must be moved to a "safe" account, or pressure to act before a deadline.
What this means in practice: a genuine organisation does not need your passcode, and a genuine regulator does not ask you to move money to protect it. Independently open a new browser window or app and contact the organisation through the channel you already use. Do not use phone numbers, links or QR codes contained in the message.
Pattern three: investment and AI-assisted approaches
Investment scams carry the largest reported losses in the figures above. Government consumer guidance notes that artificial intelligence is now part of how these approaches are built and presented, and Moneysmart publishes walkthroughs of how an AI investment scam unfolds so people can see the warning signs before investing.
The recurring structure is an unsolicited or online-ad-driven introduction, credible-looking materials, a small initial "return" that builds confidence, and then pressure to commit more. The report on scam activity also includes commentary on the psychological tactics scammers use to manipulate victims — urgency, authority, scarcity and social proof — which is worth reading directly, because the tactics transfer across every pattern in this article.
Moneysmart's guidance is blunt on one point: read reviews of the business and check for signs that it could be a scam.
A verification checklist before you pay or share details
| Check | How to do it | Why it helps |
|---|---|---|
| Unexpected contact | Pause and contact the organisation yourself | Removes the scammer's control of the channel |
| Changed bank details | Confirm by phone on a number you sourced | Defeats invoice redirection |
| Sender address | Compare character-by-character with past correspondence | Catches lookalike domains |
| Links and attachments | Don't open; navigate manually | Avoids cloned login pages |
| Requests for codes or passwords | Refuse and report | No genuine organisation needs them |
| Money to a "safe" account | Treat as a red flag and stop | Standard impersonation move |
| Pressure and deadlines | Slow the transaction down | Urgency is a documented tactic |
| New business or investment | Check reviews and registration independently | Moneysmart's own guidance |
The ACCC's framing is worth keeping in mind: the most important thing is that scams exist and that you are on the lookout for them. Vigilance is the control, not suspicion of every message.
Where to check current alerts and where to report
Three official sources carry the current material:
- Moneysmart (ASIC) — how to spot a financial scam, superannuation and AI investment scam walkthroughs, and scam-spotting guidance at moneysmart.gov.au/financial-scams.
- ACCC consumer guidance — staying protected from scams, checking and reporting scams, and Scamwatch reporting at accc.gov.au/consumers/stay-protected/scams. Scamwatch also sends information to other agencies, including ASIC and ReportCyber, to help stop scammers.
- National Anti-Scam Centre — the annual Targeting scams report on scam activity, trends and initiatives, published at nasc.gov.au/reports-and-publications/targeting-scams.
What this means in practice: read the current report at least once a year for trends, and use the ACCC and Moneysmart pages as your standing reference when something looks wrong. Reporting matters even if no money was lost, since the report draws explicitly on people who reported without losing money or personal information.
If you have already paid
Act in this order: contact your bank or payment provider immediately and ask what recovery steps are available for the payment method you used; report the matter through the official channels above; and keep the messages, account details and transaction records. If identity documents or personal information were shared, follow the identity-related guidance on those same government pages. Speed is the main variable you still control.
Next steps
Pick one concrete action today. If you pay invoices regularly — as a business, a renter, a home buyer or a sole trader — change one process: no bank detail change is ever actioned from the requesting message alone. Write the verification step into your payment routine. Then bookmark the ACCC scams page and the NASC report page so that when something feels off, you are one click from the current information rather than relying on memory.
General information only
This article is general information about scam patterns reported in Australia. It is not legal, financial, taxation or migration advice, and it is not personalised to your circumstances. Figures, alert lists and reporting processes change; verify them with the official sources linked above before acting. Australian Cash is an independent publisher of general information — it is not a lender, broker, government body, regulator or comparison service, and it does not approve, assess or process any claim, report or payment on your behalf.