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ASIC reports a sharp rise in the removal of phishing and investment scam websites and warns that artificial intelligence is intensifying online scam risks. The regulator highlights growing use of AI-powered social media ads and urges consumers to verify licences before sharing personal information.
Wikilix Editorial Team
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The Australian Securities and Investments Commission (ASIC) has reported a record increase in the removal of harmful social media phishing and investment scam websites, warning that artificial intelligence (AI) is intensifying online scam threats.
Between 1 January 2025 and 31 December 2025, ASIC coordinated the takedown of 11,964 phishing and investment scam websites. This represents a 90% increase compared with the previous 12-month period, when 6,270 such websites were removed. On average, ASIC removed 32 websites per day, or 230 per week, over the period.
Since launching its takedown service in 2023, ASIC has removed more than 25,000 investment scam and phishing websites in total. In 2025 alone, the regulator also removed more than 1,100 online investment scam advertisements on social media platforms.
ASIC warned that scammers are increasingly using AI in social media advertisements to lure consumers into providing personal information. According to Commissioner Alan Kirkland, scammers sometimes hide content that breaches social media platforms’ terms and conditions by using techniques such as “cloaking” to display different content depending on the consumer’s device or location.
The scams often attempt to exploit public interest in AI and use misleading and unrealistic claims about opportunities to make money quickly and easily. Commissioner Kirkland said scammers are using AI to make fake investment advertisements look more polished, more convincing and harder to detect.
Australians lost $2.18 billion to scams in 2025, with investment scams alone accounting for $837.7 million, according to the National Anti-Scam Centre's latest Targeting Scams Report. Against this backdrop, ASIC is urging consumers to be alert to AI-powered investment scams.
The regulator is warning people not to provide contact details or other personal information to anyone promoting an investment opportunity unless they can verify that the promoter holds an Australian Financial Services (AFS) licence. ASIC’s focus on website and advertisement takedowns is part of broader efforts to reduce the prevalence and impact of online investment and phishing scams.
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