Dispatch
ASIC took down 19,000 scam sites in a year — up 182% — as generative AI industrializes deepfake investment fraud
Australia's securities regulator warned Aug 17 that scammers are using generative AI to spin up vast networks of deepfake sites and celebrity endorsements, and that 'a quick online search is not enough' to verify an investment. ASIC removed more than 19,000 online scams in the past year, a 182% jump, against 11,964 phishing and investment scam sites removed across calendar 2025 (itself a 90% increase over 6,270 the prior period). Australians lost $7.4 million to scams using just the ten most-impersonated public figures, including PM Anthony Albanese, Gina Rinehart and Pauline Hanson.
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