ASIC says the online investment-scam problem has shifted from single fake pages to interconnected “webs of deception”. In the 2025–26 financial year, the regulator removed more than 19,400 scam websites, social-media advertisements, phishing links and cryptocurrency investment scams—182% more than the 6,915 removed in the preceding financial year.[1]
The network effect is the important development. A deepfake celebrity clip can lead to a fabricated news article, positive reviews, a spoof brand website, a fake trading interface and a scripted follow-up call. Each element is designed to confirm the others when a prospective investor performs an ordinary web search.[1]
Takedowns increased across several scam channels
ASIC FY26 takedown data
| Measure | Value | Context |
|---|---|---|
| Total online scams removed | More than 19,400 | Includes fake websites, social ads, phishing and crypto-investment scams.Source 1 |
| Year-on-year increase | 182% | Compared with 6,915 removals in FY25.Source 1 |
| Phishing hyperlinks | 5,476; up 279% | Links impersonate trusted services or collect credentials and contact details.Source 1 |
| Fake investment platforms | 7,051; up 151% | Platforms can display fabricated balances and returns to prolong the fraud.Source 1 |
| Crypto-investment scams | 3,106; up almost 30% | The category remains substantial even as other scam channels grew faster.Source 1 |
ASIC’s earlier calendar-year figures measured a different period and should not be added to the FY26 totals. For 1 January to 31 December 2025 it reported 11,964 website removals—90% above the previous 12 months—and more than 1,100 social-media scam advertisements removed. The later FY26 figure uses a financial-year denominator and a broader current dataset.[2][1]
AI is being used to attack the verification process
How the scam network creates false confidence
| Layer | Scam tactic | False signal created |
|---|---|---|
| Attention | Deepfake video or celebrity/politician endorsement | A familiar face appears to validate the opportunity.Source 1 |
| Search | Spoof news pages, reviews and repeated branded phrases | Independent web searches appear to confirm the story.Source 1 |
| Conversion | Scripted call and urgent deposit request | A supposed adviser turns interest into a payment.Source 1 |
| Retention | Fake trading platform and small early profit payments | Fabricated account activity encourages larger transfers.Source 1 |
| Evasion | Cloaking and device/location-specific content | Platforms and investigators may see different pages from the target.Source 2 |
The verification failure is that several apparent sources can belong to the same fraud. Repeated brand names, matching news stories and favourable reviews may confirm only that the network is internally consistent. Independent verification has to establish the real legal entity and a contact route outside the material supplied by the promoter.[1]
A licence number must be matched to the actual website and company
ASIC warns that scammers copy or misuse real Australian Financial Services licence details. A valid number can therefore appear on a fraudulent site. Verification needs to match the legal licence holder, licence number, business identity and website address through ASIC’s Professional Registers Search, using contact details obtained independently rather than from the advertisement.[1][4]
The licence record establishes the named person’s licence and permissions; the supplied website address helps connect that record to the domain. Contacting the firm through independently obtained details can then establish whether it recognises the offer and representative. ASIC’s investor alert list adds published warnings, while a missing warning leaves the other identity checks necessary.[1][4]
Takedown and loss response address different stages
Removal disrupts further access to a website or advertisement. Money already transferred, copied content and the identity of an overseas operator require separate responses. ASIC points to bank contact, cyber reporting and Scamwatch reporting alongside prevention and takedowns.[1][3]
Licensees also need accurate genuine website details in ASIC’s register. Monitoring clone activity and giving customers a clear independent verification route help connect those public records to the communications customers receive before sending funds.[4][3]
Sources & further reading
- ASIC warns scammers are using AI to spin vast webs of deception Australian Securities and Investments Commission · 17 Aug 2026 · Accessed 16 Oct 2026
- ASIC ramps up action against AI-powered investment scams Australian Securities and Investments Commission · 8 Apr 2026 · Accessed 16 Oct 2026
- ASIC website takedown capability Australian Securities and Investments Commission · 16 Oct 2026 · Accessed 16 Oct 2026
- AFS licensees: providing website addresses for the Professional Registers Search Australian Securities and Investments Commission · 17 Jun 2026 · Accessed 16 Oct 2026