AI Super-Charges Online Scams as Australians Lose Billions
The corporate regulator has issued a stark warning that artificial intelligence is now "super-charging" online threats, with dozens of scam websites designed to fleece Australians being eliminated daily. The Australian Securities and Investments Commission (ASIC) coordinated the removal of close to 12,000 phishing and investment scam websites in 2025, representing a dramatic 90 per cent increase compared to 2024 figures.
Scammers Using AI to Create Convincing Fake Content
ASIC Commissioner Alan Kirkland revealed that cybercriminals are increasingly leveraging AI technology to create more polished and deceptive content. "Scammers are using artificial intelligence to make fake investment ads look more convincing and harder to spot," Kirkland stated. "We're seeing AI being used to create professional videos, fake endorsements and targeted ads designed to lure people into handing over their details."
The takedown of what equates to 32 fraudulent websites every single day last year was accompanied by the removal of more than 1,100 investment scam advertisements targeting Australians scrolling through social media platforms. Authorities monitor for these deceptive ads around the clock, given the sophisticated tactics employed by fraudsters.
Billions Lost to Sophisticated Scam Operations
According to the National Anti-Scam Centre's latest Targeting Scams Report, Australians lost a staggering $2.18 billion to various scams in 2025. Of this enormous total, victims lost more than $837 million specifically to investment con jobs, making it the most financially damaging scam category.
The top five scam types by financial loss in 2025 were:
- Investment scams - $837 million
- Payment redirection scams - $167 million
- Romance scams - $140 million
- Phishing scams - $98 million
- Remote access scams - $70 million
Advanced Tactics Bypassing Platform Safeguards
ASIC has identified that fraudsters are employing sophisticated techniques to bypass rules established by social media platforms. One particularly concerning method is "cloaking" - a tactic that displays different content depending on the consumer's device or geographical location, making detection more challenging for both users and platform moderators.
"Scammers offer guaranteed, quick and easy investment returns, often claiming to leverage the latest AI technology to make money with minimal effort," Kirkland explained. "These deceptive advertisements use misleading statements and high-pressure sales tactics to try and part Australian consumers with their money, with it often ending up in the pockets of overseas criminals."
Protecting Yourself from AI-Enhanced Scams
ASIC has provided essential advice to help Australians minimize their risk of falling victim to these increasingly sophisticated scams:
- Never provide personal information to anyone promoting an investment opportunity unless you can verify they hold a valid Australian Financial Services licence.
- Avoid acting on investment advice encountered on social media and don't feel pressured to invest. If you have any doubts, cease communication immediately.
- Conduct thorough research before investing. Scammers often create fake news and reviews to make investments appear legitimate. Search online for warnings about potential scams.
- Act quickly if something feels suspicious. If you've shared personal financial information or transferred money, contact your bank immediately and report the incident to Scamwatch.
- Consult ASIC's resources including the Moneysmart investor alert list and the "Check before you invest" page to stay informed about potentially fraudulent or unlicensed investments.
Commissioner Kirkland offered a sobering reminder about the reality behind these AI-enhanced scams: "With these AI videos, the only thing that is real is the amount of money you risk losing." As technology continues to evolve, both regulators and consumers must remain vigilant against these sophisticated financial threats.
