Published 8/22/2025
5 min read

Australia's War on Scams: 14,000 Disrupted, Crypto Fuels a Fifth

Australia's War on Scams: 14,000 Disrupted, Crypto Fuels a Fifth

Australia Intensifies Online Scam Crackdown, Citing Crypto in 21% of Cases

Australia's financial watchdog, the Australian Securities and Investments Commission (ASIC), has reported a significant crackdown on online fraudulent activities, successfully disrupting over 14,000 scams since the beginning of 2023. This robust response underscores ASIC's unwavering commitment to safeguarding investors and consumers from the rapidly evolving landscape of digital fraud. The sheer volume of thwarted scams highlights the pervasive nature of illicit financial operations targeting Australians, often manifesting as fake investment opportunities, deceptive cryptocurrency schemes, or sophisticated impersonation fraud. A notable finding from these extensive enforcement efforts reveals that cryptocurrencies were implicated in 21% of these busted schemes, signaling a critical area of focus for consumer protection amidst the increasing prevalence of illicit financial operations. This proactive approach is essential as scammers continually adapt their methods, leveraging new technologies and platforms to ensnare victims.

Key Details of Australia's Anti-Scam Efforts

Since 2023, the Australian Securities and Investments Commission (ASIC) has successfully intervened in over 14,000 online scam operations, preventing potential financial losses for consumers.

A significant proportion of these fraudulent activities, specifically 21%, involved the use of cryptocurrencies, highlighting a concentrated area of risk and exploitation within the digital asset market.

ASIC Deputy Chair Sarah Court confirmed the regulator's enhanced enforcement strategies, which now include active monitoring of social media advertisements. This proactive measure aims to detect and disrupt deceptive campaigns early, reinforcing ASIC's adaptive approach to consumer protection as scammers increasingly use social platforms.

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