Scam alert: fake ASIC branding on social media
The Australian Securities and Investments Commission (ASIC) has issued a scam alert warning consumers that there has been an recent increase in the use of ASIC’s logo in social media scams. ASIC’s warning to consumers covers three main areas of concern.
.
Advertisements on social media platforms: ASIC has received reports of ads on social media platforms displaying the ASIC logo and claiming ASIC sponsorship for a “Stock Trading Master Class”. The ads link to a private WhatsApp group called “Lonton Wealth Management Center” – an entity listed by ASIC on the Investor Alert List in May 2024. ASIC is not associated with the entity, and ASIC does not sponsor the class.
Cold calling: Repeated cold calls from someone purporting to be from ASIC have been reported. The caller tries to engage with consumers about obtaining a refund on an investment. Please note that ASIC does not cold call consumers about investments.
Fake Telegram account: An account on Telegram is impersonating an ASIC social media account, with the operators asking investors for money to release their investment funds held in Australia. ASIC does not have a Telegram account as part of its social media presence and will never ask consumers for upfront payments or taxes to release Australian-held investments.
ASIC is working with the National Anti-Scam Centre (NASC) and social media platforms to remove such content and reminds consumers that it does not endorse or promote investment training or platforms, doesn’t cold call consumers, and is not associated with any investment offerings.
Acctweb
Hot Issues
- Tips to help you this tax time
- Tax Time Checklists Individuals; Company; Trust; Partnership; and Super Funds
- ATO warns millions of Australian chasing tax deductions to stop making 'unusual' claims
- Impersonation scams are on the rise
- Components of a cyber security plan
- Social Security Payments and Their Effect on Discretionary Trusts
- LRBA ban no better for housing supply or retirement, accountants clap back
- The evolution of the world's languages
- 2026 Year-End Tax Planning Guide – Part 1
- 2026 Year-End Tax Planning Guide – Part 2
- PAYDAY SUPER STARTS 1 JULY 2026 – Planning guides
- Payday Super: 6 Things Small Businesses Need to Know
- SMEs to be hit hardest by new trust tax reforms
- 6 tips to help businesses avoid financial difficulties
- Managing your mental health and wellbeing during times of uncertainty
- Check out what Uses the Most Internet Traffic: Data from 1994 to 2026
- Key tax changes and measures from the 2026 Federal Budget
- Federal budget 2026: Winners and losers
- A breakdown of 2026-27 Federal Budget Themes and Papers.
- ATO reminds practitioners to avoid common FBT mistakes
- Why every business should have an AI policy
- RSM welcomes updated PCG on transfer pricing for inbound distributors
- Major super tax changes now law
- ATO taking a closer look at investment properties
- Choosing the right trustee structure for your SMSF
- Succession planning and why it should be at the top of your to-do list
- From Bricks to iPhones: The Evolution of the Telephone
- Inflation continues to keep SME owners up at night, survey finds
- Payday Super: 6 Things Small Businesses Need to Know
- ATO issues new guidance on penalties for non-compliance with STP
- Strategies for Effective Debt Recovery for Small Businesses
Article archive
- April - June 2026
- January - March 2026
- October - December 2025
- July - September 2025
- April - June 2025
- January - March 2025
- October - December 2024
- July - September 2024
- April - June 2024
- January - March 2024
- October - December 2023
- July - September 2023
- April - June 2023
- January - March 2023
- October - December 2022