ASIC is warning Australians that a quick online search is not enough to verify investment opportunities as scammers use generative AI to create vast networks of deepfake websites.
The findings follow a targeted ASIC surveillance of nine entities offering short-dated ETOs, futures and fractional shares to retail investors.
Scammers initially target victims through social media advertisements and posts claiming to offer trading tips on equities.
ASIC is warning consumers to remain vigilant when engaging with online investment websites and mobile applications.
ASIC has issued a warning about scammers impersonating the regulator requesting payments to release funds or assets.
ASIC is seeing an increase in a suspected investment scam involving social media ads for investing opportunities and tips.
ASIC is alerting consumers about suspicious investment opportunities in digital gold vaults.
The warning comes after ASIC’s enforcement and regulatory update highlighted over $109.1 million in civil penalties for the half year 2023.
ASIC is alerting investors about a suspicious website, appasiccoin.org, using crypto to scam Australians.
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