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From pedigree puppies to Patrick Swayze, fraudsters dupe nearly $70 million from Australians every year by exploiting a wide swath of online scams.
The AAP reports about 20,000 people reported becoming victims of fraud in 2009 through scams that targeted their "emotional decision making", a new report said.
But Peter Kell, deputy chair of the Australian Competition and Consumer Commission, said real losses could be much higher.
"This figure is likely to be the tip of the iceberg - given people can be embarrassed about reporting that they have fallen victim to scams and lost money in the process," he said.
The real figure is probably closer to $1 billion, the ACCC's report released today said, if based on calculations by Australian Bureau of Statistics estimates on annual fraud losses.
Most who have lost money to scams have escaped with less than $1000 in damages, but two unlucky people reported losing over $10 million each in the past 12 months.
Scam complaints tend to peak mid-year with online scams increasing in popularity, the report said.
About 54 per cent of scams involved a "mass-marketed advance fee" where consumers pay costs up front for a product that is never supplied.
In one scam last year, pedigree puppies were sold and consumers paid for transportation costs.
The puppy was never delivered and the seller disappeared online.
Other scams have involved fake donation websites for the Victorian bushfires and sites that convinced consumers to reveal personal information to claim unexpected prizes.
Celebrity deaths were also exploited, the report said.
When actor Patrick Swayze died, fake news websites shot up online with ads that sold "anti-virus software" as a scam to gain personal information and credit card numbers.
"Regardless of age, gender, education or income level, any consumer can be scammed," the report said.
"Everyone is vulnerable."
