ASIC charged four men in Victoria, including a former barrister, for money laundering related to a large-scale investment scam. This alleged crime involved shifting victim funds through Australian accounts and converting them to cryptocurrencies between January and July 2021.
In 2025, Scamwatch reported over 90,000 scam incidents causing approximately 98 million AUD in losses. Investment scams were significant contributors, demonstrating a growing threat to ordinary Australians as they are lured into fake schemes through deceptive online platforms.
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