The federal government has announced the establishment of a cuttingedge National AntiScams Centre (NASC) as part of an $86.5 million package.

The NASC will sit within the ACCC and be operational from 1 July 2023. In a worldleading partnership between government agencies, banks, telcos, and digital platforms, the NASC’s purpose is to:

  • Use cuttingedge technology to share intelligence across government and with authorised industry participants to interrupt scams in real-time;
  • Combine the expertise of the government and the private sector to disrupt scams; and
  • Raise consumer awareness of the risk of scams and how to avoid them.

Australians lost over $3 billion to scams in 2022 alone, and scam losses have increased nearly fivefold since 2020. The average loss from a scam is around $20,000. The average household has about $34,000 in savings.

Funding was included as part of the FY23 Budget.

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