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BEWARE: ASIC warns of fake endorsements

·2-min read
Example of a fake asic endorsement and a person using their laptop
Example of a fake asic endorsement and a person using their laptop

The corporate regulator is warning Australians to beware of unregistered companies displaying fake ASIC endorsements on their websites.

ASIC said the websites display fake certificates that look like ASIC documents, or use ASIC’s logo, but contain information about companies that aren't registered.

ASIC has already named and shamed Global Capital Swiss Corp, COIN POBIT and A Glance Group for displaying the fake certificates.

How to spot a fake endorsement

ASIC said consumers can check whether a company is registered for free on its website, so when in doubt, check.

However, ASIC warns that just because a company is registered does guarantee the quality of the company and should not be seen as an endorsement from ASIC.

“A website that displays an ASIC company registration certificate as a way of promoting a business could be a scam,” ASIC said.

“If a company claims it is registered, but there is no record of registration on ASIC’s website, it could be a scam.”

Example of a fake ASIC endorsement
(Source: Provided)

The above document looks like an ASIC document, but it contains details of a company that is not registered.

example of a fake asic document
(Source: Provided)

The above document looks like an ASIC document, but it contains details of a company that is not registered.

Example of a fake ASIC document
(Source: Provided)

ASIC said that this document is fake as it does not produce documents that look like this.

What to do if you think you have been scammed

If you think you or someone you know has been scammed, lodge a report of misconduct with ASIC and report the matter to police.

You can also make a report to the Australian Cyber Security Centre at ReportCyber. Your report may disrupt the scammers and hopefully will warn others to avoid it.

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