ASIC’s Post

Since July 2023, ASIC's website takedown capability has removed over 7,300 phishing and investment scam websites, making it harder for scammers to steal personal and financial information from Australians. AFCX is playing our part in this work. Why is this significant? According to the 2023 NASC Targeting Scams Report, In the 2022-23 period alone: - Australians lost $1.3 billion to investment scams. - $137.4 million was lost to phishing scams. - Cryptocurrency was used in 3,195 scam reports, totalling $171.1 million.   The AFCX is playing a crucial role in these outcomes through our Anti-Scam Intel Loop. Banks and other participants use the Intel Loop to send verified scam URLs to the National Anti-Scam Centre (NASC) and ASIC's website takedown services. By shortening the time between detecting and disrupting scams, we can protect more Australians from falling victim. Intel Loop is a powerful collaboration across sectors—including major banks, telcos, AusPost, Meta, and the NASC—to stop scam communications before they reach the public. We’re especially proud of the recent ACCOMM award win by Optus for its pioneering work that led to the creation of the Intel Loop. Every takedown and every disrupted scam is a step closer to a safer Australia. Australian Banking Association (ABA), Sarah P. Jayde Richmond #ScamPrevention #CyberSecurity #FraudProtection #InvestmentScams #PhishingAlerts

Australians lost more money to investment scams in 2023* than any other type of scam. To tackle this serious issue, we co-led an investment scams fusion cell with ASIC and over 35 other participants from government, law enforcement and industry. Together, we implemented strategies to fight back against investment scams on digital platforms. Specifically, scam ads, websites and videos. These strategies continue to help protect Australians from investment scams. ASIC have now taken down over 7,300 phishing and investment scam websites since July 2023. *Source: National Anti-Scam Centre Targeting Scams Report 2023.

🚨 Crypto scams surged 45% in 2023, resulting in a staggering $5.6 billion in losses—according to the FBI's latest Cryptocurrency Fraud Report. From investment scams to phishing attacks and government impersonation schemes, scammers are getting more sophisticated in their methods. The report highlights which demographics are most affected and provides key insights into how we can stay protected in this rapidly evolving landscape. 🛡️ Stay informed and protect your assets. Read more ➡ https://bit.ly/4ecrKLK

There is no such thing as a 'sure gain' investment, staying vigilant against scams is crucial. From rug pulls and pump-and-dump schemes to phishing attacks and deceptive airdrops, the variety of scams such as fake apps, giveaway frauds, impersonations, and blackmail are ever-increasing. Investors must also be wary of investment scams, sham ICOs, and social media cons that threaten to undermine trust in this innovative space. Educate yourself and safeguard your digital assets by recognizing these potential threats. Read the full article on cryptocurrency scams to watch out for: https://lnkd.in/guThUCxQ #cryptoscam

FBI advisory on scams affecting crypto investors: "HOW THE SCAM WORKS - The scammer contacts the victim via an unsolicited call or message and pretends to be a cryptocurrency exchange employee. - The scammer conveys urgency and may claim there is a problem with the victim's account, or someone is attempting to compromise the victim's account. - The scammer claims the victim must safeguard their account by providing log-in information, clicking on a link, and/or providing identification information. - The scammer obtains access to the victim's account and steals the cryptocurrency." Link to FBI advisory: https://lnkd.in/eKuj4v2N #cybersecurity #cybersecurityawareness #scamprevention #scamawareness #fraudprevention #fraudawareness

🚨Crypto Crime Alert🚨 Cryptocurrency analysts have uncovered HuiOne Guarantee, a major online marketplace facilitating cybercrime in Southeast Asia. Operated by HuiOne Group, this platform provides technology services, data trafficking, and money laundering operations, amassing over $11 billion in transactions. HuiOne is also notorious for "pig butchering" scams, where victims are tricked into fraudulent crypto investments. The scale and sophistication of their operations highlight the increasing threats in the digital financial landscape. Stay vigilant and informed about these evolving risks. Read more http://🔗https://zurl.co/jZri

Urgent notice: Peterborough Municipality has fallen victim to a social media hijack, resulting in X account being compromised in a sinister cryptocurrency scam. Tap to uncover. ⬇ #peterborough #socialmedia #hijack #cryptocurrency #scam #urbananews #newsupdate #people #Media #Research #Info #Breakingnews #Update #information #Industry #Dailynews #Press #Newsletter #Advertisement #Instanews

The infection involves various components, including PowerShell scripts, batch files, Go-based binaries, and a vulnerable driver.   Notably, the TA appears to be planning a Windows BYOVD (Bring Your Own Vulnerable Driver) attack, using a driver known as Terminator (Spyboy).   A key aspect of this campaign is using RDPWrapper to facilitate RDP connections and Tailscale to connect to the TA’s private network, which is a relatively new technique.    This campaign seems to target individuals associated with the cryptocurrency industry. It uses a decoy PDF related to cryptocurrency futures trading on CoinDCX, a popular Indian crypto exchange. This decoy choice suggests that the threat actor (TA) might specifically target users in India, indicating a geographic focus for the attack.  (38TTPs with 'Procedure' level details on the TruKno blog)