Cyber security organisation Netsafe says nearly $4.5 million has been lost to internet scammers over the past year.
Chief executive Martin Cocker said on Monday that losses have more than quadrupled this year, with 562 reports received by its Orb website and he expects the number to continue to increase.
Mr Cocker said online dating and scams that persuade people to part with money before receiving a windfall remain the most common forms of internet fraud.
"You'd be surprised how many people still fall for quite traditional scams. Although, we are seeing more and more losses associated with more sophisticated scams that look more like regular e-commerce activity online."
Mr Cocker is warning people to be suspicious when they receive unexpected emails asking for money.