The Australian Securities and Investments Commission (ASIC) has issued a public alert about a proliferation of fraudulent websites imitating its official Moneysmart platform.
The legitimate Moneysmart website can be found only at moneysmart.gov.au, but ASIC has observed multiple imitation sites using similar branding and layouts to deceive visitors.
These fraudulent sites are designed to attract individuals with investment offers, often using urgent language that references economic uncertainty or the risk of missing out on opportunities.
Many of these sites advertise high returns for relatively low upfront payments – commonly in the range of $300 to $400.
ASIC has clarified that its Moneysmart service does not request personal information for investment purposes, nor does it contact individuals to propose investment opportunities.
The regulator said: “Moneysmart will never ask consumers to pay money to enter into an investment option.”
In addition, ASIC has identified fake sites making misleading claims about government-backed investment programs.
ASIC has advised anyone approached by individuals claiming to represent ASIC or Moneysmart with investment advice to immediately end the interaction, report suspicious communications, and block further contact.
The agency’s guidance is summarised in three steps: stop, check, and protect.
ASIC also encourages individuals to carefully consider whether sharing personal or identification information is necessary, especially when prompted online.
For those who believe they may have been targeted by a scam, ASIC recommends the following actions:
Recent data from the National Anti-Scam Centre (NASC) indicates that Australians reported nearly $175 million in scam-related losses during the first half of 2025 (H1 2025).
While the number of reported scams fell by 24% year-on-year to 108,305, the total financial impact rose by 26% compared to the same period in 2024.
Digital channels – including fake websites, online advertisements, and social media – are increasingly being used by scammers to reach victims.
The data shows that losses increased by more than 40% among certain groups, with individuals whose first language is not English experiencing a 44% rise, and First Nations Australians reporting a 55.3% increase.
Phishing scams alone accounted for $19.5 million in losses, with a significant portion involving cryptocurrency-related impersonation schemes.
The average loss per scam incident in 2025 was $12,212, representing a 10% decrease from the previous year, but the overall trend highlights ongoing risks for both consumers and the insurance sector.
