Australian Regulator Issues Fraud Warning Over 'Unusual Payment Methods'

Australia’s top consumer protection regulator has issued a warning over the fraudulent use of prepaid gift cards, cryptocurrencies and money remittance firms, after losses soared to almost half a billion dollars last year.

The Australian Competition and Consumer Commission (ACCC) revealed on Monday that fraud victims lost A$489m ($344m) in 2018, an increase of more than a third from the previous year.

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