The Federal Government has launched the National Anti-Scams Centre in an effort to finally crush illegal scams which suck millions of dollars out of victim’s pockets each year.

Investment scams will be the first target, while banks are being urged to also step up and do more to defend customers against scams.

Assistant Federal treasurer Stephen Jones told Gary Adshead on 6PR Mornings the national centre will pool resources across the country in order to form a united front.

“We haven’t had a coordinated or a sophisticated approach, and that ends now,” Mr Jones said.

Press PLAY to hear more about the Federal Government’s scam crackdown