Here’s something that’ll make you feel a bit safer online: The Australian Securities and Investments Commission (ASIC) has been hard at work, and in just one year, they’ve managed to take down over 7,300 scam websites. That’s an average of 20 scam sites per day!
Breaking Down the Numbers
Out of these 7,300 takedowns:
- 5,530 were fake investment platforms.
- 1,065 were phishing scam links.
- 615 were cryptocurrency investment scams.
ASIC’s deputy chair, Sarah Court, reminds us that these scams are more than just a nuisance—they’re criminal activities that can cost people their life savings. In 2023 alone, Australians lost $1.3 billion to scams, proving that the fight is far from over.
How These Scams Work
Scammers are getting smarter, using technology to create fake websites, news articles, and even deepfake videos of public figures endorsing bogus investment opportunities. These scams often start on social media, where unsuspecting users are lured to fraudulent sites promising quick and easy returns on investments.
The Importance of Quick Action
ASIC’s swift removal of these scam websites is a critical step in protecting consumers. By disrupting the scammers’ operations, ASIC breaks the link between these criminals and their potential victims. But remember, the landscape of scams is always evolving, and it’s crucial to stay vigilant.
How You Can Protect Yourself
ASIC suggests a simple three-step process to stay safe online:
- STOP: Don’t rush into anything. Never share your personal information or act on investment advice from social media. If something feels off, stop the conversation immediately.
- CHECK: Verify the legitimacy of the investment. Scammers can make fake news and reviews look real. Do some digging—search online for any warnings about the investment, and check ASIC’s website to see if the company or individual is licensed.
- REPORT: If you think you’ve been scammed or have shared sensitive information, contact your bank right away. Report the scam to Scamwatch to help prevent others from falling victim.
Final Thoughts
While ASIC’s efforts are making a significant impact, the best defense against scams is staying informed and cautious. Don’t let the promise of easy money cloud your judgment. Always take a moment to stop, check, and report.
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