Organised crime gangs are targeting retirees with increasingly sophisticated scams that may have cost thousands of elderly Australians more than $100 million.
Police and the Australian Crime Commission told the Herald fraudsters were going to extreme lengths to ''backstop'' their scams by manning multiple phones with informed, convincing associates.
The Crime Commission - which has set up a joint task force called Galilee with state and federal law enforcement bodies - estimates that more than 2400 individuals, 800 companies and 51 superannuation funds have lost $93 million so far.
On average, victims have lost about $130,000, with losses ranging from $35,000 to more than $4 million.
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