Regulatory Alerts2025-08-27
ASIC warns of surge in celebrity-backed investment scams and expands takedown powers
ASIC has shut down over 330 fake investment websites using celebrity images in 2025, marking a 25 percent increase in scams exploiting social proof. The regulator has extended its takedown capabilities to include social media advertising and urges consumers to apply the Stop, Check, Protect framework to identify fraudulent schemes. Additionally, ASIC warns against high-pressure superannuation switching tactics that often utilize unsolicited health checks and unrealistic return promises.
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