The staggering sum Australians are expected to lose to scammers this year

Australians are expected to lose about $4 billion to scams this year.

Losses reported to the Australian Competition and Consumer Commission’s (ACCC) Scamwatch website this year are double those reported for the same period last year.

Director of the University of NSW’s Canberra Institute for Cyber Securtiy, Nigel Phair, says vigilance is critical.

“Be super vigilant and super alert as to why someone is approaching you,” he told Ross and Russel.

“If it’s an investment scam why is it such a great offer? If it’s something like a romance and dating scam, why is it that everything seems out of the ordinary and they always need you for money? That’s the real key.”

Press PLAY below to hear Nigel Phair’s tips for avoiding scams