The Australian Securities and Investments Commission removed more than 19,400 online scams during FY26, an increase of 182% from the previous financial year, including 3,106 cryptocurrency investment scams, up nearly 30%. The takedowns included 7,051 fake investment platforms and 5,476 phishing links, which rose 151% and 279%, respectively. ASIC said generative AI is helping criminals build networks of deepfake videos, fabricated news reports, false reviews, copied branding and AI-generated comments that make fraudulent crypto platforms appear legitimate. Fake dashboards can show fabricated trades, balances and profits before victims are pressed to transfer larger amounts, while the money may be routed through overseas criminal groups. Scams impersonating 10 frequently targeted Australian public figures caused more than A$7.4 million in reported losses. ASIC Chair Sarah Court urged investors to independently verify licence details through official registers before sending money, cryptocurrency or personal information.