Australian Financial Regulator: Beware of Fake Warning Banners on Imposter Websites

The Australian Securities and Investments Commission (ASIC) has noticed a concerning trend: scammers using imposter websites to display anti-scam warning banners and falsely asserting association with Australian financial services licensees, according to a news released on Thursday.

These scammers create a deceptive illusion, blurring the line between authenticity and deception. While seemingly providing valuable advices on fraud prevention, they are, in reality, ensnaring unsuspecting victims. They also leave their contact details and pretend to encourage investors to call and verify the legitimacy of the investment company.

It is also possible to see legitimate company registration details stolen by the scammers on these fake websites. Scammers may even be found encouraging victims to report the scam to the police, ASIC and Scamwatch, an Australian fraud prevention education website.

In addition, scammers are also posting fake news and paying for promotions on popular websites to lead potential victims to the imporster websites.

Despite scammers mixing up real and fake information, there are ways for people to spot these scams. Investors are advised to search for the authentic contact details of AFSL licencees through the ASIC registry and the Australian Financial Complaints Authority (AFCA), and compare them carefully with those on suspicious websites.

Do not disclose personal information to the scammers and do not enter into monetary transactions with them to avoid losses.

_{Examples of imposter scam websites with fake warning banners (Source: ASIC)}