Australian Competition and Consumer Commission data showed scams cost ACT residents nearly $2.2 million in 2016.
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The consumer watchdog's new report showed dating and romance scams hit Canberrans the hardest in 2016, reporting losses totalling $886,292.
Director of the Centre for Internet Safety at the University of Canberra Nigel Phair said people needed to be wary of anyone they'd only met online.
"We're not using those real-world sensibilities when operating in the online environment," Mr Phair said.
"If you met someone say, at a bar, you don't that night give them all your personal details.
"You're preying on people that are lonely, that have got the financial means to send money. They just want to believe that everything's going to work out and it rarely does."
Romance schemes cost Canberrans more than the next two most-common scam types combined.
Phony investment schemes cost ACT victims $501,690. They normally involve cold calls or emails offering financial advice or lucrative shares.
Mr Phair said investment scammers target inherently high-risk individuals, some financially secure enough to write off any loss as simply a bad investment. Others risked their superannuation.
The next most common in the ACT were hacking schemes, making scammers $304,893.
Users are tricked into installing ransomware onto their computers or mobile devices. Ransomware locks a device until users give in to their attacker's demands.
Hacking schemes also exploited easily guessed passwords, Bluetooth or unsecured Wi-Fi connections and out-of-date anti-virus software.
Mr Phair said scams tended to hit people with high-pressure situations, overloading them with information so they made an irrational decision.
National data showed scams increased 47 per cent in 2016, costing Australians $299.8 million that year.
Romance scams mainly targeted people through social media, with 56.9 per cent affecting women.
ACT Justice Minister Shane Rattenbury said 11 Canberrans lost more than $10,000 this way.
"Often on social media we are so used to sharing information about ourselves that we tend to let our guard down a bit," Mr Rattenbury said.
Most investment scheme victims were men, at 67 per cent, with 58.9 per cent of victims targeted by phone. Again, Australians aged between 55 and 64 reported the highest rates.
Just over 60 per cent of hacking scams targeted Australians by phone, with 58.1 per cent of victims being women.
Australians aged over 55 accounted for 45 per cent of reports to the ACCC's Scamwatch.
Canberrans didn't lose out to two types of cons, including hitman scams, involving a scammer threatening someone's life until they gave in to demands.
Canberrans reported 57 hitman scams but no one reported paying their attackers.
Some practical tips to avoid being scammed:
- Try to avoid clicking on links in emails, especially from unknown senders.
- Turn on automatic updates for software, including anti-viral software.
- Avoid using public wifi to perform sensitive transactions, such as internet banking.
- Check the profile of new friend requests, especially if you have only met the person online
- Be cautious when sharing personal pictures or videos.
- Do an image search to help determine if someone is who they say they are.
- Report profiles you suspect to be scams to the social media platform.
- Review your privacy and security settings on social media.
- Check reviews before buying online.
Canberrans can refer to the ACCC's Scamwatch website for more information on types of scams and how to protect themselves.
