Regulators Wage High-Tech War Against AI-Driven Crypto Scams
Australia’s securities regulator has intensified its campaign against online fraud, with crypto-related scams making up one-fifth of the 14,000 scam websites taken down over the past two years, according to the Australian Securities and Investments Commission (ASIC). Of these, 3,015 were specifically linked to cryptocurrency schemes. The regulator has expanded its enforcement scope to include social media advertisements on platforms like Facebook and Instagram, which are increasingly being used to funnel users to fraudulent investment sites. This move aims to address the growing complexity of online fraud schemes that exploit emerging technologies such as artificial intelligence.
ASIC reported removing an average of 130 malicious…
