Example two: Impact of financial cybercrime Online fraud and scams targeting Australia result in hundreds of millions of dollars funnelled into the pockets of cybercriminals every year. The proliferation of smartphones and the rise in social media, new payment technologies and online platforms have contributed to this growth, making it easier for cybercriminals to refine their strategies and engage with potential victims. Previously, it was common for scammers to engage with victims and persuade them to send money or personal identity information; however, now many scams involve limited contact with a victim, making it difficult for individuals to identify scam activity and take proactive steps to protect themselves. Case study: Online scams against the Australian community In 2021, the Australian Competition and Consumer Commission’s (ACCC) Scamwatch received on average 700 scam reports with $870,000 lost each day. Further research commissioned by the ACCC in 2021 highlighted that 68% of people who encountered a scam did not report the scam. Based on these findings, and liaison with other organisations, ACCC expect the combined reported losses to scams in 2021 could be up to $2 billion. Due to significant underreporting of cybercrime, the true extent is likely to be considerably higher. Example three: Cyber-enabled crime causes profound harm State and territory police forces continue to adapt their cybercrime operations as traditional crimes such as drug trafficking move into the digital realm of darknet marketplaces. Illicit transactions are facilitated by anonymising technologies and cryptocurrencies, requiring specialised cybercrime investigation capabilities. Case study: Law enforcement operations against darknet vendors Strike Force VELLUM was an investigation by the NSW Police Force North West Region Enforcement Squad into a syndicate of offenders supplying prohibited drugs on the darknet. With the assistance of the NSW Police Force Cybercrime Squad, a controlled operation was conducted involving purchases of prohibited drugs using cryptocurrencies. Two offenders were subsequently charged with offences including large commercial supply and ongoing supply of prohibited drugs. National Plan to Combat Cybercrime 2022 5