More reports of bank scams targeting younger generations as teen loses life savings to spoofing

People in their 20s and 30s may be losing more money in scams than those in older age brackets, as experts warn “ruthless” organised crime gangs are behind the attacks. 

Data from Consumer Protection, a branch of the West Australian Department of Mines, Industry Regulation and Safety, showed 25 to 34-year-olds reported losing more of their hard-earned cash than older Australians.

A Consumer Protection spokesperson said the agency was only able to see an age breakdown of scam reports lodged online, which made up a third of the total complaints within the state.

The reports received via email, phone, or Crime Stoppers did not have age details.

Scammers are targeting more younger Australians.(ABC News: Brendan Esposito)

According to the available breakdown, those in the younger age bracket lost more than $1 million in 2019, compared to those over 65 who were swindled out of about $100,000.

The trend continued in 2020, when those aged 25 to 34 were scammed out of more than $1.6 million, while the baby boomers reported losing about $700,000.

And in 2021, the 25 to 34 group lost more than double the amount that older people were reportedly scammed out of.

The alarming figures also revealed those aged between…

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