New Anti-Scam Centre Launches to Fight $1B Investment Scams
The National Anti-Scam Centre has launched a new investment scam fusion cell, led by the ACCC and ASIC, to tackle the growing problem of investment scams costing Australians over $1 billion annually. The centre aims to disrupt scams, educate the public, and support victims.
The fusion cell, set to run for six months with regular public updates, will work to remove scam websites, share information, and identify intelligence for law enforcement. It will involve representatives from banks, telecommunications, and digital platforms, as well as law enforcement agencies and industry stakeholders.
ASIC's Deputy Chair Sarah Court welcomed the initiative, stressing the importance of collaboration between regulators and the private sector. Consumers are advised to be wary of easy money offers and use ASIC's resources to reduce investment scam risk. Victims can report scams to their bank, police via ReportCyber, and access support from various organisations including IDCARE, Scamwatch, Lifeline, and Beyond Blue.
The investment scam fusion cell, coordinated by the National Anti-Scam Centre, is a significant step towards combating the rising threat of investment scams. By working together, regulators and industry stakeholders aim to disrupt scams, educate the public, and provide support to victims, ultimately protecting Australians from financial harm.
