Australian Securities & Investments Commission warns of scammers impersonating ASIC to demand payments to release funds or assets

The Australian Securities & Investments Commission (ASIC) issued a scam alert warning that fraudsters are impersonating ASIC via emails, texts and phone calls and demanding payments purportedly needed to release funds or assets, including in “recovery scam” approaches targeting investors. ASIC stressed it does not collect payments to enable the release of funds or assets and will never request payment in any currency. It also will not require or accept payments in digital or crypto assets, including stablecoins, will not provide guarantees of funds or asset release, and will not provide payments into a digital asset exchange. The regulator urged consumers to check whether an organisation is licensed via the ASIC Professional Registers and to independently verify unsolicited ASIC-branded communications through official channels, noting third parties are not permitted to reproduce or use ASIC’s logo. Recipients of suspected false communications are advised to take no action until legitimacy is confirmed. Where a scam may already have occurred, ASIC recommends immediately engaging the relevant bank or financial institution, notifying any digital asset exchange involved, seeking identity-compromise support, reporting to Scamwatch, and remaining alert to follow-up scams offering to recover money.