Regulatory Alerts2026-04-08
ASIC ramps-up action to protect consumers from AI-powered online investment scams
The Australian Securities and Investments Commission (ASIC) has removed 11,964 phishing and investment scam websites in 2025, marking a 90% increase from the previous year as it combats the rise of AI-powered fraud. Commissioner Alan Kirkland warns that scammers are increasingly using artificial intelligence to create polished, misleading advertisements that promise guaranteed returns and leverage cloaking techniques to evade detection. ASIC urges consumers to verify that any investment provider holds a valid Australian Financial Services licence and to avoid sharing personal details with unverified entities spruiking AI-driven investment opportunities.
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