ASIC (Australian Securities and Investments Commission)

The Australian Securities and Investments Commission (ASIC) is the statutory body responsible for regulating companies, financial markets, and financial services in Australia. In the consumer fraud context, ASIC's most visible work involves investment scams, unlicensed financial product providers, and false advertising of investment returns. ASIC maintains a publicly searchable register of licensed financial services providers and a Moneysmart website that helps consumers check whether a firm is legitimate.

ASIC has the power to issue public warnings, seek injunctions, apply for asset freezes, and refer cases for criminal prosecution by the Commonwealth Director of Public Prosecutions. It also operates a formal mechanism for consumers to report unlicensed financial advice, cold-call investment offers, and pump-and-dump schemes at asic.gov.au/report. ASIC coordinates with international regulators through IOSCO and bilateral agreements when investment fraud has a cross-border element.

Consumers who have received unsolicited investment offers or believe a firm is operating without an Australian Financial Services (AFS) licence should check ASIC's register first, then report to ASIC if the firm is unlicensed. For money already lost, ASIC alone cannot recover funds; victims should also report to the police, ACCC Scamwatch, and consider civil recovery options. ASIC's Moneysmart website at moneysmart.gov.au provides a checklist for identifying investment fraud.