ASIC Shuts Down 3,106 Crypto Scams as AI Fraud Surges in Australia

ASIC shuts down 3,106 crypto scams as AI fraud surges in Australia

Australia’s securities regulator has removed 3,106 cryptocurrency investment scams during FY26 as its total online scam takedowns surged 182% to more than 19,400. The Australian Securities and Investments Commission said in an Aug. 17 release that crypto investment scam removals…

ASIC Dismantles 3,106 Crypto Scams Amid AI Fraud Spike

The Australian Securities and Investments Commission removed 3,106 fake cryptocurrency platforms and more than 19,400 total online scams in the 2025-26 financial year, the regulator disclosed on 17 August. The crypto takedowns rose nearly 30% from the prior year, while total scam removals surged 182%. Deepfake Celebrity Networks Drive A$7.4 Million in Losses ASIC said criminal syndicates are using generative AI to build interconnected webs of de…

ASIC Pulls 3,106 Crypto Scams as AI Networks Target Aussie Savings

In FY26, the Australian Securities and Investments Commission shut down over 19,400 online scams, a 182% surge, including 3,106 cryptocurrency investment platforms. How Syndicates Use Deepfakes and AI Infrastructure Australia’s corporate regulator has issued a stark warning to investors as sophisticated, AI-generated deceptive networks—often built around fake cryptocurrency platforms and deepfake endorsements—continue to target Australian […]

ASIC warns scammers are using AI to create deepfake investment scam networks

ASIC has warned Australians that a quick online search is no longer a reliable way to verify investment opportunities, as scammers use generative AI to create networks of deepfake websites and fabricated endorsements designed to lure victims.