ASIC Warns Customers Of Email Scam

The Australian watchdog ASIC has published a statement warning the public to pay attention on scam emails purporting to be from ASIC.

The Australian Securities and Investments Commission has always considered scammers as very dangerous to the financial industry, especially during busy times of the year such as holiday time, when it is easy to overlook something suspicious.

Links and attachments

According to ASIC, the scam involves bogus emails that some customers have been receiving, meant to appear as though they came from ASIC, asking them to click on links and download attachments. This is the way for fraudsters to receive money, spread viruses and install malware on the customers’ devices.

“It is always important to be wary of unsolicited emails that demand payment or contain suspicious attachments or links, especially if you have never dealt with the organisation they are from,” said John Price, ASIC Commissioner.

ASIC has emphasized that any email that requests payment over the phone, making payment to receive a fund, credit card of bank details directly by email or phone, or downloading some kind of software is not from ASIC and is probably a scam.

Tips to stay safe online

There are a few things that you could do to prevent yourself to become a victim of these email scams. Primarily, keep all anti-virus, malware and spyware protection software updated. In addition, make sure you have a firewall and that it is up-to-date.

Considering any suspicious links, avoid clicking on them. ASIC also recommended to scan email attachments with good security software, especially if they contain .exe or .zip files.

If any kind of suspicious activity is detected, the ASIC invites all customers to report it via its website.

The Australian Securities and Investments Commission has also extended its partnership with Nuix, a Sydney-based intelligence, analytics and cybersecurity software firm. The regulator is spending AU$60 million in a bid to become a more data-driven, intelligence-led law enforcement agency.

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