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Cyber Criminals Boost Profits From Attacks Targeting Old Users

CANBERRA: In November, money lost to all types of scams rose to $18.7 million, up 20.2pc from the $15.6 million reported in October.

Some 22,122 scams were reported in November across Australia, down 16.3pc from the 26,432 reported in October, according to a report by cyber security company Proofpoint.

The report found that scammers targeted older Australians in November, with 31pc of all the money – or $5 million – belonging to people aged between 55 and 64.

Another 29 percent of the money (or some $4.7 million) belonged to those aged 65 and above.

Proofpoint found investment scams were especially damaging in November. Australians lost a combined total of $9.4 million, due to investment scams over the past month, a figure 20pc above the amount lost in October.

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