ASIC is disrupting scammers’ efforts to deceive Australians out of their money by closing the scammers’ websites, contributing to a reduction in the amount of money lost to scams.
The Australian Securities and Investments Commission has made headway in its efforts to stem the seemingly never-ending tide of scammers, taking down more than 7,300 phishing and investment scam websites in the past year.
ASIC deputy chair Sarah Court says the technological landscape around scams is rapidly evolving. “Innovative technology developments may improve how we live and work; however, it is also providing new opportunities for scammers to exploit,” Court says. and other initiatives of the Albanese government are likely driving the fall in the total amount of money lost to scams, though the number of people affected by losses continues to rise.
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