Australia had extradited to New Zealand alleged fraudster Loizos Michaels who is wanted for multimillion dollar fraud.

Mr Michaels is also accused of fraud in Queensland's Gold Coast by several film companies which charged him with running away with thousands of dollars in investments.

The Gold Coast police is still investigating the charges against Mr Michaels. The complaints were filed in 2006, but the detectives probing the case provided an update only in 2011.

Detective Superintendent Brian Hay explained that the police could not charge Mr Michaels unless they have completed investigation and have evidence on hand.

Mr Hays disclosed that some fraud victims, particularly email scams, continue being victimized because they still send money to fraudsters even if police had warned them about the scam.

To battle frauds, which are prevalent on the Internet, 30 Australian, U.S., Nigerian and Ghanian investigators are attending a conference in Brisbane to address the global fraud pandemic.

The most common fraud originate from African countries with the writer asking some funds from their potential victims to unfreeze millions of dollars of inheritance or large stash of cash overseas.

Mr Hays said that monthly, 2,000 Queenslanders move a total of $2 million to email scammers from Nigeria and Ghana. He pinpointed the emotional attachment of the victim to the fraudster as the main reason why such email scams continue to proliferate.

"We as a society tend to say, they're stupid or greedy, (but) anyone approached at the right time in their lives with right stories will be vulnerable to a fraud.... Fraud victims are victims of a crime, they need our respect and need our support and need out help to rebuild their lives," The Sydney Morning Herald quoted Mr Hays.