Scams are on the increase, and the police and banks might not help you

If you fall victim to internet scammers you may have no recompense. Photo: Getty

Financial scams are rising dramatically and the police and banks probably won’t help you if you get stung, according to experts in the field.

The ACCC recently reported that during 2021 Australians lost $1.8 billion in financial scams, and a scam investigator said as many as 33 per cent of his clients don’t report their losses to police.