1 00:00:00,200 --> 00:00:02,880 Speaker 1: Good morning and welcome to the Daily ODZ. It is Wednesday, 2 00:00:02,880 --> 00:00:04,720 Speaker 1: the thirteenth of July. Billy, it's a good day to 3 00:00:04,760 --> 00:00:06,920 Speaker 1: have a good day. Hope everybody has a good day 4 00:00:06,920 --> 00:00:09,080 Speaker 1: ahead of them. On today's podcast, we're going to be 5 00:00:09,080 --> 00:00:12,440 Speaker 1: talking about scams. There's been an alarming increase in the 6 00:00:12,520 --> 00:00:15,000 Speaker 1: number of us being scammed here in Australia and it's 7 00:00:15,240 --> 00:00:18,279 Speaker 1: partly because of text messages that come through lots to 8 00:00:18,280 --> 00:00:20,959 Speaker 1: tell you about there. But first, Billy or what is 9 00:00:21,000 --> 00:00:22,720 Speaker 1: making headlines this Wednesday morning. 10 00:00:24,880 --> 00:00:28,280 Speaker 2: Health Minister Mark Butler has announced Concession card holders will 11 00:00:28,280 --> 00:00:31,320 Speaker 2: no longer have access to free rapid antigen tests at 12 00:00:31,320 --> 00:00:34,440 Speaker 2: the end of July. The National President of the Pharmaceutical 13 00:00:34,520 --> 00:00:37,800 Speaker 2: Society of Australia said we cannot simply remove the main 14 00:00:37,880 --> 00:00:41,879 Speaker 2: method of testing that's accessible to these vulnerable groups. Yesterday 15 00:00:41,920 --> 00:00:45,920 Speaker 2: Australia recorded forty one thousand cases of COVID and fifty 16 00:00:45,920 --> 00:00:46,479 Speaker 2: eight deaths. 17 00:00:48,280 --> 00:00:51,840 Speaker 1: New data on household spending has been released showing Australians 18 00:00:51,880 --> 00:00:54,639 Speaker 1: spent seven point nine percent more in May than they 19 00:00:54,680 --> 00:00:57,800 Speaker 1: did a year ago. Spending on essentials increased by six 20 00:00:57,840 --> 00:01:00,520 Speaker 1: point eight percent and spending on non essentials increased by 21 00:01:00,600 --> 00:01:04,200 Speaker 1: eight point nine percent. Transport and hospitality were among the 22 00:01:04,280 --> 00:01:07,160 Speaker 1: fastest growing spending areas, but these are also the only 23 00:01:07,200 --> 00:01:10,960 Speaker 1: spending areas where spending is still below pre pandemic levels. 24 00:01:12,440 --> 00:01:15,760 Speaker 2: India's population is on track to overtake China in twenty 25 00:01:15,800 --> 00:01:19,440 Speaker 2: twenty three, according to new global population data released by 26 00:01:19,440 --> 00:01:22,959 Speaker 2: the United Nations. It was also forecast the global population 27 00:01:23,120 --> 00:01:25,600 Speaker 2: would hit eight billion by the end of this year 28 00:01:25,959 --> 00:01:28,600 Speaker 2: and peak in the twenty eighties at around ten point 29 00:01:28,600 --> 00:01:29,360 Speaker 2: four billion. 30 00:01:31,319 --> 00:01:35,320 Speaker 1: And your humpday good news. Timeout magazine has named Edinburgh 31 00:01:35,360 --> 00:01:37,679 Speaker 1: the best city in the world for twenty twenty two. 32 00:01:38,280 --> 00:01:41,080 Speaker 1: I'm going to read you the top ten, so it's Edinburgh, Chicago, 33 00:01:41,319 --> 00:01:47,520 Speaker 1: medi Inn, Glasgow, Amsterdam, Prague, Marrakesh, Berlin, Montreal and Copenhagen. 34 00:01:47,920 --> 00:01:51,000 Speaker 1: The top ranking Australian city was Melbourne. It came in 35 00:01:51,080 --> 00:01:59,880 Speaker 1: at fifteen billy. Last week, I got a text me 36 00:02:00,400 --> 00:02:02,120 Speaker 1: from my bank and I'm actually going to read it 37 00:02:02,160 --> 00:02:04,360 Speaker 1: to you live on air. It says your payment has 38 00:02:04,400 --> 00:02:07,880 Speaker 1: been successfully arranged. If this was not, you cancel this 39 00:02:08,000 --> 00:02:10,920 Speaker 1: payment by clicking here now. I contacted my bank and 40 00:02:10,960 --> 00:02:13,480 Speaker 1: it turns out this was a scam. It came from 41 00:02:13,520 --> 00:02:17,280 Speaker 1: an Australian phone number, and I definitely did not click 42 00:02:17,360 --> 00:02:21,000 Speaker 1: that link. But I'm not alone with scams. There's some 43 00:02:21,160 --> 00:02:23,400 Speaker 1: big news about scams. What's going on? 44 00:02:24,040 --> 00:02:26,480 Speaker 2: No, you're right, You're certainly not alone. So last week 45 00:02:26,520 --> 00:02:29,760 Speaker 2: it was announced that Australians had lost two billion dollars 46 00:02:29,800 --> 00:02:32,760 Speaker 2: to scams in twenty twenty one. And now that's a 47 00:02:32,840 --> 00:02:35,400 Speaker 2: record number for Australia. And not only is it a 48 00:02:35,440 --> 00:02:38,400 Speaker 2: record amount of money that Australians have lost, but it's 49 00:02:38,440 --> 00:02:42,240 Speaker 2: also a record number of Australians who were scammed. So 50 00:02:42,280 --> 00:02:45,680 Speaker 2: this was announced by Australia's consumer watchdog, the Australian Competition 51 00:02:45,760 --> 00:02:49,440 Speaker 2: and Consumer Commission, otherwise known as a Triple C. And 52 00:02:49,560 --> 00:02:51,919 Speaker 2: just to give you an idea sam of how much 53 00:02:52,120 --> 00:02:55,639 Speaker 2: this has increased, this is more than double the amount 54 00:02:55,680 --> 00:02:58,639 Speaker 2: that Australians were scammed in twenty twenty one, when Australians 55 00:02:58,639 --> 00:03:01,400 Speaker 2: lost about eight hundred and fifty million dollars. So we've 56 00:03:01,440 --> 00:03:04,560 Speaker 2: gone from losing eight hundred and fifty million dollars in 57 00:03:04,560 --> 00:03:08,240 Speaker 2: one year in twenty twenty to losing two billion dollars 58 00:03:08,320 --> 00:03:10,000 Speaker 2: the next year in twenty twenty one. 59 00:03:10,280 --> 00:03:13,280 Speaker 1: That's more than doubled. What can you tell me about 60 00:03:13,400 --> 00:03:14,519 Speaker 1: who's being scammed. 61 00:03:15,000 --> 00:03:17,880 Speaker 2: Yeah, So, the h TRIBC does release information about this. 62 00:03:18,000 --> 00:03:21,160 Speaker 2: It releases information about the demographic statistics of those who 63 00:03:21,200 --> 00:03:24,400 Speaker 2: have been scammed. And so they said that women reported 64 00:03:24,440 --> 00:03:28,639 Speaker 2: the most scams, but men's losses were a lot more 65 00:03:28,840 --> 00:03:31,800 Speaker 2: than women. And the HRIBC also said that people aged 66 00:03:31,880 --> 00:03:34,720 Speaker 2: sixty five and over reported the highest losses and that 67 00:03:34,800 --> 00:03:39,600 Speaker 2: losses overall increased with age. And in light of this news, 68 00:03:39,840 --> 00:03:44,160 Speaker 2: the HBC Deputy chair Dearia Ricard, she had some pretty 69 00:03:44,160 --> 00:03:47,000 Speaker 2: strong words to say about the people who are behind 70 00:03:47,200 --> 00:03:50,280 Speaker 2: these scams. She said that, quote, scammers are the most 71 00:03:50,280 --> 00:03:53,920 Speaker 2: opportunistic of all criminals. They pose as charities after a 72 00:03:54,000 --> 00:03:57,960 Speaker 2: natural disaster, health departments during a pandemic, and love interests 73 00:03:58,080 --> 00:04:01,000 Speaker 2: every day. The true cost of scams is more than 74 00:04:01,000 --> 00:04:03,880 Speaker 2: a dollar figure, as they also cause serious emotional harm 75 00:04:03,920 --> 00:04:06,119 Speaker 2: to individuals, families, and businesses. 76 00:04:06,360 --> 00:04:09,800 Speaker 1: And what do experts think is the reasoning behind this 77 00:04:10,000 --> 00:04:11,480 Speaker 1: massive increase in scams? 78 00:04:11,760 --> 00:04:15,400 Speaker 2: Well, investment scams were the category that reported the highest 79 00:04:15,440 --> 00:04:18,559 Speaker 2: losses with seven hundred and one million dollars, so about 80 00:04:18,600 --> 00:04:22,000 Speaker 2: a third of that two billion dollar total loss that 81 00:04:22,120 --> 00:04:26,440 Speaker 2: was recorded. And I mentioned the HFC deputy chair Dellia Ricard, 82 00:04:26,640 --> 00:04:28,240 Speaker 2: who has come out and said that one of the 83 00:04:28,400 --> 00:04:32,600 Speaker 2: major reasons for this increase is because of fake investment opportunities, 84 00:04:32,640 --> 00:04:35,919 Speaker 2: particularly in cryptocurrency, which I know is an area that 85 00:04:35,960 --> 00:04:38,560 Speaker 2: you're interested in, Sam, and she said that people who 86 00:04:38,600 --> 00:04:41,840 Speaker 2: don't know how to invest in cryptocurrency but one two 87 00:04:42,080 --> 00:04:46,400 Speaker 2: like me, are proving to be particularly susceptible to losing 88 00:04:46,440 --> 00:04:50,000 Speaker 2: money to scams. And then the second biggest category was 89 00:04:50,040 --> 00:04:52,960 Speaker 2: payment redirection scams, which is where scam is pretend to 90 00:04:52,960 --> 00:04:56,280 Speaker 2: be a bank or maybe a business client, and they 91 00:04:56,560 --> 00:04:58,960 Speaker 2: essentially try to trick you into getting you to send 92 00:04:59,080 --> 00:05:02,960 Speaker 2: them money. And then the third highest category was romance scams, 93 00:05:02,960 --> 00:05:06,520 Speaker 2: and this is typically when scammers take advantage of people 94 00:05:06,560 --> 00:05:09,599 Speaker 2: looking for romantic partners and set up a fake profile 95 00:05:10,080 --> 00:05:13,479 Speaker 2: and then essentially manipulate you to provide money or gifts 96 00:05:13,680 --> 00:05:17,120 Speaker 2: or personal details. And one thing to note is that 97 00:05:17,160 --> 00:05:19,880 Speaker 2: in twenty twenty, when we recorded eight hundred and fifty 98 00:05:19,960 --> 00:05:23,240 Speaker 2: million dollars losses, a lot of authority said that they 99 00:05:23,279 --> 00:05:25,760 Speaker 2: thought that was because of the pandemic and because more 100 00:05:25,800 --> 00:05:29,280 Speaker 2: people were on their phones. But what this new information 101 00:05:29,320 --> 00:05:31,360 Speaker 2: has told us about twenty twenty one is that this 102 00:05:31,480 --> 00:05:35,000 Speaker 2: isn't necessarily a pandemic trend, but it's something that could 103 00:05:35,040 --> 00:05:37,120 Speaker 2: potentially continue to increase. 104 00:05:37,440 --> 00:05:40,040 Speaker 1: And so we've got this massive problem on our hands. 105 00:05:40,080 --> 00:05:42,039 Speaker 1: How are the authorities responding? 106 00:05:42,640 --> 00:05:44,760 Speaker 2: Well, this is why we're talking about it today because 107 00:05:44,760 --> 00:05:47,440 Speaker 2: there was a big announcement yesterday. So one thing the 108 00:05:47,480 --> 00:05:51,320 Speaker 2: Australian Communications and Media Authority otherwise known as AKMA, has 109 00:05:51,360 --> 00:05:55,400 Speaker 2: done is introduced new rules that will require phone companies 110 00:05:55,440 --> 00:05:59,440 Speaker 2: to identify, trace, and block tech scams. So this was 111 00:05:59,480 --> 00:06:02,599 Speaker 2: announced yesterday and it puts part of the owners on 112 00:06:02,839 --> 00:06:07,520 Speaker 2: phone companies to proactively prevent scams from happening. And so 113 00:06:07,600 --> 00:06:11,560 Speaker 2: now under these new rules, foreign companies must actively monitor 114 00:06:11,600 --> 00:06:15,960 Speaker 2: for scams, notify authorities of potential scams, they have to 115 00:06:16,000 --> 00:06:19,240 Speaker 2: put processes in place to trace their origin, and they 116 00:06:19,279 --> 00:06:22,720 Speaker 2: also have to block any scam texts that originate from 117 00:06:22,760 --> 00:06:27,120 Speaker 2: their own customers. And there's big financial penalties in place 118 00:06:27,200 --> 00:06:30,599 Speaker 2: that could happen if phone companies don't do this. And 119 00:06:30,600 --> 00:06:32,680 Speaker 2: now I was talking before about the stats that have 120 00:06:32,880 --> 00:06:35,320 Speaker 2: just been released, and one last thing that I want 121 00:06:35,320 --> 00:06:37,400 Speaker 2: to mention before we go is I was talking before 122 00:06:37,400 --> 00:06:39,839 Speaker 2: about the stats that had just been released about last 123 00:06:39,920 --> 00:06:43,960 Speaker 2: year's record high scam losses, but already we're getting a 124 00:06:43,960 --> 00:06:46,799 Speaker 2: sign that this year could be worse. So the HFC 125 00:06:47,320 --> 00:06:49,880 Speaker 2: has come out this week and said Australians have already 126 00:06:49,920 --> 00:06:52,720 Speaker 2: lost six point five million dollars so far this year 127 00:06:53,160 --> 00:06:56,760 Speaker 2: just to SMS scams, which is nearly three times higher 128 00:06:56,800 --> 00:06:58,839 Speaker 2: than the same period in twenty twenty one. 129 00:06:59,120 --> 00:07:01,200 Speaker 1: And I think we're all filed. I mean, if my 130 00:07:01,320 --> 00:07:04,000 Speaker 1: phone is anything to go by, I'm getting these scams, 131 00:07:04,000 --> 00:07:07,719 Speaker 1: particularly by SMS, quite routinely, and that is a sharp 132 00:07:07,760 --> 00:07:10,760 Speaker 1: increase over the last couple of years that I've noted. 133 00:07:11,320 --> 00:07:13,560 Speaker 1: Thanks for that, Billy. Everyone be safe out there and 134 00:07:13,640 --> 00:07:16,600 Speaker 1: don't click on a link. That's my bottom line, except 135 00:07:16,680 --> 00:07:19,240 Speaker 1: if that link is from the Daily Oz, because we 136 00:07:19,280 --> 00:07:22,040 Speaker 1: will never scam you. We'll only provide you with excellent 137 00:07:22,080 --> 00:07:24,000 Speaker 1: news and you can read that news over on our 138 00:07:24,040 --> 00:07:26,400 Speaker 1: Instagram during the day if you need some updates between 139 00:07:26,440 --> 00:07:28,960 Speaker 1: podcasts until then, we will speak to you tomorrow.