ASIC has unveiled a brand new rip-off web site takedown functionality that eliminates or restricts entry to misleading and malicious web sites on the web, marking a pivotal enlargement of a three-week trial performed by the company regulator in 2022.
Since July, ASIC has initiated takedowns of two,500-plus funding rip-off and phishing web sites, together with the elimination of two,100 fraudulent websites and the continued processes to take down greater than 400 further websites.
Talking at a press convention, ASIC Deputy Chair Sarah Court docket (pictured above) emphasised the importance of the initiative.
“We recognise that scammers depend on know-how to perpetrate funding scams,” Court docket mentioned. “This consists of utilizing refined web sites to trick Australians into believing they’re making real investments. Our web site takedown service helps us establish and disrupt funding rip-off and phishing web sites from inflicting additional hurt to Australians.”
ASIC has funding devoted to bettering its disruption initiatives geared toward combating funding scams. This consists of enlisting a 3rd celebration to take away funding rip-off and phishing web sites.
ASIC’s new funding rip-off and phishing web site takedown functionality types a part of the federal government’s Preventing Scams initiative, which goals to disrupt scams and safeguard Australians from monetary hurt.
The initiative additionally helps the work of Nationwide Anti-Scams Centre (NASC), which started operations on July 1, to coordinate efforts between the federal government, regulation enforcement companies, and the personal sector to fight numerous scams.
The rip-off web sites focused by ASIC embody faux funding platforms, crypto-asset scams, and imposter scams which pose as respectable monetary service companies.
Imposter scams will be significantly tough to detect, and Australians are urged to confirm the legitimacy of companies through the use of publicly listed cellphone numbers if unsure.
“All Australians ought to strategy web sites that promote assured, fast, low-risk, and really high-returns with warning,” Court docket mentioned. “If an funding alternative appears too good to be true, it virtually actually is.”
In a media launch, ASIC urged those that come throughout suspicious web sites to report an funding rip-off by the hyperlink, or if not sure of the character of the rip-off, can report it to scamwatch.gov.au.
Discover out extra about ASIC’s web site takedown functionality by visiting the funding rip-off web site takedown functionality web page.
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