Overview
- In a report released Aug. 16–17, ASIC said it removed more than 19,000 scams in the past 12 months, a 182% increase on the previous year.
- ASIC linked AI‑generated impersonations of public figures to A$7.4 million in reported FY26 losses and named frequently abused people such as Anthony Albanese, Gina Rinehart and Alan Kohler.
- The scams typically begin as social‑media ads that show a fake celebrity endorsement, lead to fabricated news articles and then funnel victims to sham investment platforms that use scripted calls and small payouts to win trust.
- ASIC recorded large category takedowns in FY26, including 5,476 phishing links, 7,051 fake investment platforms and 3,106 crypto investment scams, and warned that copied AFSL numbers and cloned brands make simple web checks unreliable.
- Meta said stronger detection tools, including facial recognition, reduced user reports by 22% and increased takedowns, but regulators and victims say removals alone do not stop scammers and are pressing for tighter prevention, platform cooperation and possible government action.