Farm businesses have collectively lost more than $1.2 million to scammers between January 1 and August 31.
The startling figure marks a 20 per cent increase compared to the same time period in 2021.
According to the Australian Competition and Consumer Commission's Scamwatch service, most of these scams involved the sale of tractors and heavy machinery, with $1.03m lost in this area.
Earlier this year ACM Agriculture reported $520,000 had been lost to scams mentioning tractors between January 1 and June 28.
This figure has doubled based on the losses reported in July and August.
ACCC deputy chairman Mick Keogh said scammers were ruthlessly luring farmers and rural businesses with seemingly good online deals on tractors and other farm machinery through fake websites or bogus classifieds on legitimate platforms and publications.
Mr Keogh said these scams were causing substantial financial losses and emotional devastation.
"Unfortunately, we have seen a concerning rise in agricultural scams in recent years, as farm businesses increasingly purchase machinery online," he said.
"Scammers are highly sophisticated in the ways they impersonate a business - some fake websites have ABNs for instance - which is why we are urging farmers and business owners to be alert to the scam risks and do extra checks to avoid getting caught out."
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The latest figures highlight a growing trend in tractor and heavy machinery scams, with $1.4m lost in this category in 2021 and $1.1m lost in 2020.
Methods used by scammers are evolving and can include providing a contract of sale, answering questions about the potential sale of machinery by phone or email, or offering a free trial period once money is deposited into an escrow account.
Farmers are being urged to make sure potential sellers are who they claim to be by verifying the existence of a business by searching the address of the business and calling a nearby business.
They are also being warned against giving too much personal information to scammers, who were targeting more than just money.
Mr Keogh said legitimate sellers would only ever ask for enough information to deliver what was ordered.
He said it was therefore important not to give too much personal information over the phone or online as prevent falling victim to identity theft.
Mr Keogh said many scams could be revealed by doing an internet search of the exact wording in the ad.
"Never click on a link provided to you by the seller or pay upfront - even if you are promised the money is refundable. Ask to pay at the time of delivery or pick-up," he said.
"If possible, inspect the machinery in person or via live video first. Scammers will often have an excuse as to why machinery can't be inspected in person and that is a red flag for any buyer.
"Scammers may advertise machinery at lower prices than the typical market rate. As always, if it looks too good to be true or if you feel pressured in any way, chances are it's a scam."
Scams can be reported, regardless of whether money has been lost, to scamwatch.gov.au.
