M15 - Consumer Fraud
Description
The sources provide an extensive overview of consumer fraud, scams, and identity theft, primarily focusing on the Australian context. They begin by setting learning objectives related to defining consumer fraud, understanding identity theft, and classifying various scam types. The documents distinguish between consumer fraud, consumer scams, and investment scams by detailing their differing regulatory frameworks, investigation techniques, and victim support strategies. A significant portion is dedicated to illustrating the seriousness and prevalence of scams in Australia, listing major historical cases of investment and consumer fraud such as Ponzi schemes and misleading financial practices. Finally, the text explores identity theft, outlining its cycle, common conversion methods used by fraudsters, and listing numerous Australian organizations and laws dedicated to prevention and victim assistance.



