ASIC Continues Strict Watch on Industry by Warning Customers of Email Scams

The Australian Securities and Investments Commission (ASIC ASIC The Australian Securities and Investments Commission (ASIC) is the prime regulator in Australia for corporate, markets, financial services, and consumer credit. It is empowered under the financial service laws to facilitate, regulate, and enforce Australian financial laws. The Australian Commission was set up and is administered under the Australian Securities and Investment Commission Act of 2001. ASIC was initially the Australian Securities Commission based on the 1989 ASC Act. Initially, the The Australian Securities and Investments Commission (ASIC) is the prime regulator in Australia for corporate, markets, financial services, and consumer credit. It is empowered under the financial service laws to facilitate, regulate, and enforce Australian financial laws. The Australian Commission was set up and is administered under the Australian Securities and Investment Commission Act of 2001. ASIC was initially the Australian Securities Commission based on the 1989 ASC Act. Initially, the Read this Term) has always viewed scammers as very dangerous to the financial industry, and as such keeps a very close watch on them. This time, it has warned consumers to be aware of scam emails that claim to be from ASIC.

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The warning says that some customers have been receiving emails purportedly from ASIC, asking them to click on links and download attachments. It added that the scammers use such methods to receive Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term, spread viruses and install malware on the devices of hapless customers.

ASIC Commissioner John Price said: "It is always important to be wary of unsolicited emails that demand payment or contain suspicious attachments or links, especially if you have never dealt with the organization they are from."

According to ASIC, any email that requests payment over the phone, requests payment to receive a refund, requests credit card or bank details by email or phone, or instructs the client to download software, is not from ASIC and has to be treated suspiciously.

ASIC advised that customers should keep their anti-virus and malware software up to date and should avoid clicking on suspicious links. ASIC also said that it is better to have a firewall enabled and to scan email attachments with good security software, especially if they contain .exe or .zip files.

The ASIC has also encouraged its customers to report any kind of suspicious activity through its website, and also follow its instructions to protect themselves from any kind of scams.