Aussie investors are getting scammed big time, and the Australian Securities and Investment Commission (ASIC) is sounding the alarm.
Crypto scams are a major problem. ASIC says they’re constantly taking down fake websites that are trying to steal money from Australians. Since July, they’ve shut down over 5,500 fake investment platforms, 1,000 phishing scams, and 600 crypto scams.
It’s not just crypto. Investment scams are the biggest type of scam in Australia, with people losing a whopping $1.3 billion in 2023.
Scammers are getting more sophisticated. They’re using social media to spread fake news and even create AI-generated videos of celebrities to make their scams look legit.
ASIC Deputy Chair Sarah Court says: “Scammers are criminals targeting hard-working Australians. They’re using advanced techniques to steal information and money. We’re seeing an average of 20 scam websites shut down every day. It’s a constant battle.”
Here’s how to protect yourself:
- Be careful about links on social media. Don’t click on anything that looks suspicious.
- Do your research. Before investing in anything, make sure it’s legit.
- Don’t be pressured. If someone is pushing you to invest quickly, it’s probably a scam.
If you think you’ve been scammed, report it to ASIC. /p>
