According to the Australian Securities and Investment Commission (AISIC), there were 3106 encrypted investment fraud projects in the 2026 fiscal year, an increase of nearly 30 per cent over the previous fiscal year. During the same period, the total number of network fraud-related clean-up operations rose to over 194,000, an increase of 182 per cent, including false investment platforms and fishing links.
AI, make it more complete.
According to ASIC, the generating AI is lowering the production threshold for fraudulent content. In the context of the same false investment project, fraudsters can quickly spell out a set of “credible appearances”, including in-depth falsification of videos, false media reports, false positive comments and messages from social platforms.
The regulator noted that after the victim left contact details, the fraudster usually made direct contact and directed him to complete the opening of the account. Some platforms also display small proceeds or book profits in exchange for trust and induce users to transfer more funds.
ASIC stressed that transaction records, account balances and income figures on such platforms may have been forged, that no real investment activity had actually taken place and that funds transferred to criminal groups abroad might have been diverted.
Fake celebrity endorsement caused millions of losses.
Citing data from the National Anti-Fraud Centre of Australia, ASIC claims that in the 2026 fiscal year, 10 Australian public figures were frequently impersonated for fraud, resulting in reported losses in excess of $7.4 million.
The people who were impersonated were Prime Minister Anthony Albanese and financial commentators Tom Piotrowski and Alan Kohler. The regulator claims that fraudsters have improved the credibility of false encrypted investment platforms by familiarizing themselves with faces and falsifying endorsements.
The Australian Federal Police had also previously indicated that the loss of local investment fraud in the 2024 fiscal year amounted to $382 million, of which almost half were encrypted assets. The proportion of persons under 50 years of age in reported cases of encrypted investment fraud was 60 per cent.
Regulation requires independent verification of license information
According to ASIC, fraudsters also copy or falsify Australian financial service licence information to create a “regulated” image. The regulator cautioned that displaying the number of the licence plate on the website did not amount to a mandate for the agency.
ASIC recommends that users independently search its professional registration system, check the name, license number and contact details of the institution, and check the suspicious website and investment items on Moneysmart Investor Alert List before transferring funds or encrypted assets.
In addition to combating fraud, Australian courts have recently further clarified the compliance boundary. In June this year, the High Court of Australia unanimously ruled that Block Earner ' s past fixed-income encryption products required a financial services licence and remanded the penalty to the Federal Court for further consideration.
Additional information:Nine days after the judgement, ASIC extended the temporary licence exemption for part of the digital asset business to 30 September, for businesses that are in the process of applying for an Australian financial service licence, and for digital asset companies that may be involved in part in the market or settlement licence requirements.