Last year, men were more likely to report losses to investment fraud, while women were the main target for romance fraud. Overall, men reported higher financial loss.
There is no specific crime of catfishing in Australia. So we have to make better use of existing laws to address this devastating behaviour.
Romance scammers are clever, well organised and have a number of tried techniques which make them highly successful. But there are ways you can avoid being scammed by a one-sided romance.
Whether you're caught by a catfish or an online romance scammer, both use similar techniques to play with your emotions.
Australians have lost more than $76 million to fraud so far this year. These are the tactics that online offenders use to dupe their victims.
Millions of dollars are lost each year by Australian's caught in romance scams. But one Australian grandmother now faces paying a much higher price: she's been sentenced to death.