ASIC removes 12,000 scam websites as AI-powered frauds surge in Australia
Australia's financial regulator ASIC removed a record 12,000 phishing and investment scam websites in 2025, reporting that scammers increasingly used AI-generated videos and fake endorsements to deceive consumers. Australians lost $2.18 billion to scams in 2025, with investment fraud accounting for $837.7 million of the losses.
What happened
Between 1 January 2025 and 31 December 2025, ASIC coordinated the removal of 11,964 phishing and investment scam websites, a 90% increase compared to 6,270 removals in the previous 12-month period, averaging 32 websites per day.
Scammers used artificial intelligence to create fake investment advertisements including professional videos, fake endorsements, and targeted ads designed to trick Australians into providing personal details, with fraudsters employing 'cloaking' tactics to bypass social media platform rules by displaying different content based on device or location.
ASIC also removed more than 1,100 investment scam advertisements from social media in 2025.
Reported impact
Australians lost $2.18 billion to scams in 2025, with investment scams alone accounting for $837.7 million in losses according to the National Anti-Scam Centre's Targeting Scams Report.
Index analysis
AI-powered scams leveraged public interest in AI technology and made misleading claims about quick and easy investment returns with minimal effort, using high-pressure sales tactics to manipulate consumers into sending money to overseas criminals.
Governance controls
ASIC warned consumers not to provide contact details or personal information to investment opportunities unless the party holds an Australian Financial Services licence.
Classification
Sources and evidence
This record was researched and written by the Index, based on the following original reporting.