2024 picks: Would you fall for the ‘elaborate’ new scams?

Michael Atkin, an ABC consumer affairs reporter, shares insights into the alarming rise of sophisticated scams targeting Australians. He discusses the art of deception used by scammers, particularly through fake text messages impersonating banks. Victims’ harrowing experiences reveal the emotional and financial toll of these frauds. Atkin also critiques how major banks are lagging in improving scam detection technologies and highlights government efforts, including a National Anti-Scam Centre, to combat this growing threat.