ASIC has shut down over 7,000 scam websites in a major crackdown.

The Australian Securities and Investments Commission (ASIC) has made significant progress in combating the relentless wave of scammers, shutting down over 7,300 phishing and investment scam websites in the past year.

The amount of money lost to scams has also decreased, dropping to $2.74 billion in 2023 from $3.1 billion in 2022. The regulator credits this decline, in part, to its efforts in taking down fraudulent websites since last year.