Consumers have received emails and phone calls from scammers purporting to be from ASIC, asking them to provide a payment to enable funds or assets to be released.

ASIC is aware of a recent example where requests were made for payments in US dollars to release an investor’s funds. Offers such as these are recovery scams.

ASIC does not collect payments to enable the release of funds or assets.

ASIC will never ask for a payment in any currency to enable funds or assets to be released.

ASIC will also not require or accept payments in digital or crypto assets (including stablecoins), whether that is to or from your crypto asset wallet or to an account at a digital asset exchange.

ASIC is Australia’s financial services regulator – it does not allow the reproduction or use of its logo by a third party entity or guarantee any of its services.

Before investing, always check to see if an organisation is licensed by ASIC to provide financial services on the ASIC Professional Registers.

If you receive unsolicited contact claiming to be ASIC or an employee of ASIC, always confirm you are dealing legitimately with ASIC by hanging up the call and calling back on the number listed on the ASIC website.

ASIC will always include a contact in its communications with you, so you can verify the legitimacy of an ASIC-branded notification. You can also call us on 1300 935 075 from within Australia, and +61 1300 935 075 from overseas to verify the legitimacy of the communication.

Additionally, ASIC will always send communications from an email address ending in @asic.gov.au.

ASIC will always call you from a telephone number using Australia’s country code “+61”. If asked, an ASIC employee will provide you with an email from their asic.gov.au email address to confirm the legitimacy of the contact.

If you think you may have provided personal information to someone impersonating ASIC or another organisation, we recommend visiting our Moneysmart website to read about protecting your personal information.

Figure: Example of scam letter

What to do if you believe you have received a false communication?

• Do not take any action until you are sure the communication is legitimate
• Call ASIC on 1300 935 075 from within Australia, and +611300 935 075 from overseas and ask for the communication to be verified

Think you have already been scammed?

If you think you’ve been scammed, take these steps fast:

1. Do not send any more money. Block all contact from the scammer.
2. Report it to your bank or financial institution. If you made a payment from your bank, you should contact your bank or financial institution and ask them to stop any transactions. If you are not happy with your financial institution’s response you can lodge a complaint with them. If you are not happy with this response, you can make a complaint to the Australian Financial Complaints Authority.
3. Report it to your digital asset exchange. If you made a transfer of digital assets from a digital asset exchange, you should contact them to report the scam.
4. Contact IDCARE, a free government-funded service, which can help to develop a specific response plan if your identity has been compromised. IDCARE will never contact you out of the blue.
5. Be wary of follow-up scams promising to help get your money back, including those claiming to be from ASIC.
6. Report it to Scamwatch to help stop the scammer.
7. Warn your family and friends about the scam.

Go to what to do if you’ve been scammed for more detailed steps.

Background

Be alert to scams

When it comes to investment scams, remember these three things:

STOP – Don’t give personal information or act on investment advice you have come across on online including on social media. Don’t feel pressured to invest. If you have any doubts, stop communicating with them.

CHECK – Ask yourself if you really know what you are investing in. Scammers can create fake digital ads, websites, news and reviews to make an investment seem legitimate. Do an internet search to see if there are warnings about this investment scam, including if a well-known public figure has warned about being impersonated. And check ASIC’s website to confirm if the person or entity offering the investment is licenced or authorised to do so.

PROTECT – Act quickly if something feels wrong. If you have shared financial information or transferred money, contact your bank immediately. Help others by reporting scams to Scamwatch.

Find out more about how to spot a banking scam.

Banking scams: What to look for

ASIC has published a number of articles on its ASIC and Moneysmart website in relation to banking scams and what to look out for. Links to these articles can be found below.

Related links:

• Banking and credit scams - Moneysmart.gov.au
• What to do if you’ve been scammed
• Crypto scams - Moneysmart.gov.au
• Report an investment scam - Moneysmart.gov.au

Further support

If you need to talk to someone, contact:

• Lifeline on 13 11 14 (24 hours) or their crisis support online chat or
• Beyond Blue on 1300 22 46 36 (24 hours) or their web chat.

If you are experiencing problems with debt, contact:

• the National Debt Helpline on 1800 007 007 (Monday to Friday 9.30am to 4.30pm) or chat online.

ASIC is Australia’s corporate, markets and financial services regulator