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Showing 1 - 10 of 30 results for "Investment scams"

ASIC project foils scammers' operations

MATTHEW WAI  |  MONDAY, 19 AUG 2024
... platform scams since July 2023. It has also seen the closure of 1065 phishing scam hyperlinks and 615 cryptocurrency investment scams, the corporate regulator revealed. The takedown follows an earlier warning on "fake news" articles and "deepfake" videos ...

ASIC cracks down on scammers

CHLOE WALKER  |  MONDAY, 4 MAR 2024
... scammers are only too happy to try and take advantage," ASIC chair Joe Longo said. "That's why ASIC is stopping investment scams at the source of their promotion, removing them from the internet before they can lure in unsuspecting consumers." Longo ...

Final QAR reforms open door to super funds

CASSANDRA BALDINI  |  THURSDAY, 7 DEC 2023
... new access to financial advice will reduce the harm caused by scammers posing as 'fin-fluencers', with investment scams representing over 60%of all scam losses so far this year," he said. "Access to good advice can be key to helping Australians ...

Funding boosts ASIC greenwashing remit

KARREN VERGARA  |  TUESDAY, 9 MAY 2023
... its scrutiny of greenwashing as part of the Labor government's crackdown on protecting investors against investment scams and other misconduct from product issuers. Federal treasurer Jim Chalmers bolstered ASIC enforcement activity against greenwashing ...

Government acts to regulate crypto assets

ANDREW MCKEAN  |  MONDAY, 6 FEB 2023
... dollars in losses for customers. Scams also present a major issue in the crypto world, with common scams such as investment scams and extortion scams sometimes involving requests for crypto assets instead of traditional forms of payment. Additionally ...

ASIC highlights strategic priorities

CASSANDRA BALDINI  |  TUESDAY, 23 AUG 2022
... in the crypto-assets market are all having a transformational impact." It added consumers remain vulnerable to investment scams. Australians lost more than $242 million to investment scams in the first half of 2022, with bank transfers continuing to ...

ACCC on financial services priorities

CASSANDRA BALDINI  |  WEDNESDAY, 1 JUN 2022
... know typically only 13% of people report losses to Scamwatch so the actual figures are likely to be much higher. Investment scams have had the highest financial impact for Australians so far this year, accounting for almost $170 million of the $228 million ...

Volatile crypto markets need better regulation: CHOICE

ANDREW MCKEAN  |  TUESDAY, 31 MAY 2022
... exchanges. Earlier this year the consumer advocacy group reported that Australians lost $99 million in crypto investment scams in 2021. Of note, the ACCC acted over alleged misleading conduct by Meta (formerly Facebook) for publishing scam celebrity ...

Aussies shell out $51m on crypto fees

KARREN VERGARA  |  MONDAY, 31 JAN 2022
... waste of money," he said. ASIC is warning self-managed super funds about the increased number of cryptocurrency investment scams. "It is best practice for superannuation fund members to seek advice from a licensed financial adviser before agreeing to ...

Bond scam defrauds SMSFs $2.8m

KARREN VERGARA  |  MONDAY, 15 NOV 2021
... crime. The Australian Competition and Consumer Commission found that Australians have lost over $70 million to investment scams in the first half of 2021. This figure is expected to double by the end of the year with increased reports of cryptocurrency ...
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