Australians’ losses to impostor bond investment scams nearly tripled in the first half of the year, with consumers losing more than A$20 million ($14 million) after being duped in their hunt for higher returns.
There were 228 reports of the fraud — which usually involves the perpetrator impersonating real financial firms or banks and claiming to offer Treasury bonds or fixed-term deposits — between January and June, compared with 82 reports in the first half of last year, the Australian Competition and Consumer Commission said in a statement Wednesday.
