The ACCC is reporting that Australian businesses have lost more than $14 million as a result of payment redirection scams, with the average losses in 2021 more than five times higher than average losses in the same period last year. The scams, also known as business email compromise scams, impersonate businesses or employees via email and request payments to a fraudulent account. ACCC Deputy Chair Delia Rickard said that there were increasing reports from businesses, sports and community clubs of significant losses. “An increasing number of reports are coming from sports and community clubs which reported more than $55,000 in losses to payment redirection scams last year. It is likely we will see similar figures this year, with $18,000 already reported lost so far in 2021,” said Rickard. One victim, the ACCC said, lost an estimated $16,500 in a single transaction after a scammer sent updated bank details to a …