The Australian Securities and Investments Commission (ASIC) has shut down an average of 130 fraudulent investment websites per week, according to its latest data. The regulator has removed a total of 10,240 scam websites, including fake investment platforms, phishing scams, and cryptocurrency investment scams. ASIC has increased the number of new investigations by 31%, initiated 15 court actions, and conducted 376 surveillance operations in the past six months. The regulator has also secured AUD 46 million in civil penalties and 13 criminal convictions. The ASIC implemented a scam website takedown capability in 2023 and focuses on detecting fake investment platforms, crypto-asset scam websites, and imposter scam websites.



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