Duxton Hill welcomes the creation of the National Anti-Scam Centre’s investment scam fusion cell, led by the ACCC and ASIC, as it appears to be a good first step in the fight against fraudulent investment scams in Australia.
The taskforce seeks to bring together government and private sector entities, such as banks, telcos and digital platforms, to identify and disrupt investment scams and dismantle scam operations. Additionally, the fusion cell will look to deploy early prevention and self-protection methods such as sharing information with the private sector and general public, removing scam websites and referring intelligence to law enforcement. These efforts are aimed at reducing losses and protecting the public from falling victim to scams.
However, it’s important to note that the fusion cell will not prosecute scammers nor recover funds already defrauded. The taskforce’s focus is prevention and disruption, not recovery and compensation.
While it will hopefully encourage investors to remain vigilant and conduct independent research, it will not help victims of fraud to get their money back, either by recovery from fraudsters or those who aid them, or via compensation from banks and other financial institutions.
In this regard, Duxton Hill excels at providing investigative services and legal advice for investment fraud victims. We have acted in some of Australia’s largest and high-profile asset recovery cases, and we are the only firm in the country to offer both investigative and legal services tailored to assisting fraud victims. Our expertise and experience in resolving complex cases enables us to swiftly identify and analyse evidence, facilitating the recovery of stolen assets and funds.
If you require the assistance of our team or seek further information, please do not hesitate to contact Duxton Hill on 03 8676 7929 or at office@duxtonhill.com.au.
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