The regulator is wiring website checks into its register as imposter scams surge across the finance industry.
The Australian Securities and Investments Commission (ASIC) has begun publishing website addresses for Australian Financial Services (AFS) licensees on its Professional Registers Search (PRS), in a bid to help consumers and businesses spot scam sites impersonating legitimate firms.
URLs now tied to AFS licences
ASIC said a growing number of scammers were cloning real companies by copying their names, licence numbers, and branding, then using those details on bogus websites and in online investment ads.
In response, the regulator is now collecting the principal web address used by AFS licensees and displaying them next to the usual licence information on its search tool.
More than 6,500 licensees have already been invited to submit their URLs since the project began in early May.
ASIC commissioner Alan Kirkland said the aim was to provide people and businesses with a simple, official source they could cross‑check before engaging with a financial services website.
“As the website addresses of more AFS licensees are collected, Australians will be able to more easily distinguish a genuine financial services website from a scam or imposter website by checking against website addresses listed on ASIC’s register,” Kirkland said.
“It will also support businesses, including digital and social media platforms, to strengthen verification processes for financial services advertising.”
On each register entry, users will now see either a main website and any additional addresses, an explicit note that the licensee does not operate a site, or a statement that the licensee is yet to provide its web details.
ASIC said website information for authorised representatives would not be included at this stage, but that licensees could use their own sites to confirm which domains their representatives legitimately use.
Push for full coverage and how to use it
ASIC is treating participation as essential rather than optional and has signalled it is prepared to escalate matters if a substantial number of companies ignore the request.
“ASIC recognises the importance of having a complete register for businesses and consumers. We may consider using compulsory powers to achieve a complete register, if required,” Kirkland said.
“Scams are an economy-wide problem and demand an economy-wide response. ASIC is encouraging consumers engaging with AFS licensees whose website addresses aren’t listed to ask them why not.”
ASIC’s guidance is for anyone dealing with a licence‑holding business online to search the Professional Registers, confirm the licence record, and then compare the URL they have been given with the “principal website” and “websites” fields.
If the address is missing, or the record shows no website on file, the regulator said people should treat that as a warning sign, contact the firm using details from the register (where available), or do further checks before sending money or sharing information.
[Related: ASIC issues warning on look-alike notices for business renewals]
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