Australia’s companies in Australia rose against online fraud by expanding the scope of the displacement of their websites to cover social media ads.
The Australian Securities and Investment Committee (ASIC) said on Thursday that expansion is part of its efforts to protect consumers who are increasingly using digital platforms to attract investors.
Since the removal program began two years ago, more than 14,000 fraud and hunting sites have been removed, with about 130 harmful sites every week.
Sarah Court, a deputy president of ASEC, said the procedure will close the paths of the fraudsters. “Expanding our ability to fraud in our social media advertisements will help protect Australian consumers,” she said.
“ASIC closes about 130 of these investment fraud sites every week, which means that we are closing tracks to reach the Australians.”
The organizer also defined the five most common fraud trends that have been identified in recent months, including counterfeit commercial robots that are marketed as “Acts” web templates, with the company’s fraudulent documents, and fake news articles of artificial intelligence that include celebrities.
The fraudsters are also said to merge the content of a legitimate external party, such as commercial charts, and the use of the association technology to adapt fake sites for specific goals.
Investment fraud is still the most fraud in Australia, with losses total $ 945 million in 2024, according to the National Center for Scam.
Although fraud losses generally decreased by 25.9 percent since its peak in 2022, Asek said that vigilance is still necessary as fraudsters adapt to new technologies.