ASIC takes down over 2,500 funding rip-off and phishing web sites

At a press convention right now, Assistant Treasurer Stephen Jones outlined a brand new rip-off web site takedown functionality applied by the Australian Securities and Investments Fee (ASIC). The takedown functionality removes or limits entry to fraudulent and malicious web sites on the Web.

Since July 2023, ASIC has disrupted rip-off exercise by initiating takedowns of greater than 2,500 funding rip-off and phishing web sites. These figures embrace:

• 2,100 websites which were taken down;
• over 400 websites within the means of being taken down.

ASIC’s funding rip-off and phishing web site takedown functionality is a part of the federal government’s Combating Scams initiative to disrupt scams and shield Australians from monetary hurt. The initiative additionally helps the work of the Nationwide Anti-Scams Centre (NASC), which commenced operations on 1 July 2023. The Nationwide Anti-Rip-off Centre will coordinate authorities, legislation enforcement and the non-public sector to fight scams.

The rip-off web sites disrupted by ASIC embrace pretend funding platforms, crypto-asset rip-off web sites, and imposter rip-off web sites the place professional monetary service companies are being impersonated.