‘I broke down and cried’: scams are rampant in Australia – and victims feel helpless to stop them

Sydneysider Sunni Wan lost tens of thousands of dollars in a phone scam after getting a text from what appeared to be her bank, HSBC. Photograph: The Guardian

An executive at Australia’s financial watchdog had just finished a radio interview on scams when he realised he had become a victim himself.

Earlier this month Justin Untersteiner, the chief operating officer of the Australian Financial Complaints Authority (Afca), saw a message from his bank saying his account had been overdrawn by $4,000.