ASIC is removing record numbers of harmful social media phishing and investment scam websites, as it warns Australians that artificial intelligence (AI) is super-charging online scam threats.
New data shows between 1 January 2025 and 31 December 2025, ASIC coordinated the removal of 11,964 phishing and investment scam websites - a 90% increase in takedowns compared to the previous 12-month period when 6,270 were removed.
On average, this is 32 websites per day, or 230 per week.
More than 25,000 investment scam and phishing websites have been knocked out since ASIC launched its takedown service in 2023.
ASIC also took down more than 1,100 online investment scam advertisements on social media in 2025.
ASIC warns consumers to watch out for scammers increasingly using AI in social media advertisements to lure them into providing their personal details.
Commissioner Alan Kirkland said scammers sometimes hide content that is against the terms and services of social media platforms, by using ‘cloaking’ to display different content depending on the consumers’ device or location.
The scams attempt to leverage the public’s increasing interest in AI and create misleading and unrealistic claims about the opportunity to make money quickly and easily.
‘Scammers are using artificial intelligence to make fake investment ads look more polished, more convincing and harder to spot,’ Commissioner Kirkland said.
‘We’re seeing AI being used to create professional videos, fake endorsements and targeted ads designed to lure people into handing over their details.
‘That’s why ASIC has significantly stepped up its online scam takedown efforts.’
Australians lost $2.18 billion to scams in 2025, with investment scams alone costing $837.7 million, according to the National Anti‑Scam Centre’s latest Targeting Scams Report.
‘Scammers offer guaranteed, quick and easy investment returns, often claiming to leverage the latest AI technology to make money with minimal effort,’ Commissioner Kirkland said.
‘These deceptive advertisements use misleading statements and high-pressure sales tactics to try and part Australian consumers with their money, with it often ending up in the pockets of overseas criminals.
‘With these AI videos, the only thing that is real is the amount of money you risk losing.’
ASIC is warning consumers to be aware of these AI-powered investment scams and to not give out their contact details or other personal information to anyone spruiking an investment opportunity, unless they can verify they hold an Australian Financial Services (AFS) licence.
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