The Australian Securities & Investments Commission is collecting and publishing the website addresses of Australian financial services licensees on its Professional Registers Search to help consumers and businesses verify whether a financial services website is genuine. The measure responds to scams in which criminals copy the names, licence numbers and websites of licensed firms such as banks, investment platforms and super funds to create fake websites and investment advertisements. The register shows a licensee’s principal website, other websites if provided, whether the licensee does not operate a website, and whether it has not yet supplied website details. Consumers and businesses can search by a licensee’s name, Australian Business Number, Australian Company Number or Australian financial services licence number and compare the claimed website against the listed address. Website addresses for authorised representatives are not included, although licensees may publish their own verification information for those representatives. ASIC also launched online resources for businesses affected by scams, bringing together scam alerts, warnings and information on its disruption, review and enforcement work. More than 6,500 AFS licensees have been invited to provide website details since the initiative launched in early May, and ASIC aims to add most AFS licensee website addresses to the register within the coming months. It said it may consider using compulsory powers if needed to complete the register.

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