Regulatory Alerts2025-08-21
ASIC Expands Investment Scam Takedown Capability to Social Media Ads
The Australian Securities and Investments Commission (ASIC) is expanding its investment scam website takedown capability to include social media ads to better protect consumers. Since the initiative began two years ago, ASIC has removed more than 14,000 malicious sites, averaging 130 takedowns per week, while identifying emerging tactics such as AI washing and cloaking. Despite a 25.9% drop in overall scam losses compared to 2022, investment scams remain the leading cause of financial harm, with Australians losing $945 million in 2024.
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