Australia records surge in investment fraud

The Australian Securities and Investment Commission (ASIC) has acquitted four individuals in Victoria for allegedly committing money laundering crimes related to crypto fraud. Authorities alleged that the individual committed a crime between January and July 2021.

The perpetrators include Dimitrios Podaridis, Bassilios Floropoulos, Peter Delis and Harry Tsalikidis. ASIC has revealed that the four promoted fraud target individual Australian investors who offer fraudulent financial products such as fraudulent bonds.

Australia records surge in investment fraud

The agency refused to acknowledge whether the four were directly involved in running investment fraud. That’s all It is listed An individual recklessly used the proceeds of a crime without caring whether these funds were the proceeds of a crime.

According to ASIC, the perpetrators used fictional investment websites and Facebook ads to attract investors. They are said to have provided investments ranging from 1-10 years and provided a fixed return of 4.5% to 9.5% per year.

The victims later deposited their funds in Australian bank accounts operated and managed by Deli, Floloporos and Podaridis. ASIC claimed that the trio had transferred funds to offshore bank accounts and crypto exchanges.

According to the Independent Committee, Tsalikidis also participated in similar activities, supporting, betting or procuring the rest. The agency has launched individual investigations following tip-offs from consumers, business and institutional organizations. It did not reveal how much money was allegedly washed by the four individuals or how many victims were allegedly affected.

After completing the investigation, ASIC introduced the issue to the public prosecutor’s commonwealth director. A hearing was also held on October 30, 2025, and it was revealed that the case would be decided whether to proceed to trial.

Podaridis and Floropoulos were each responsible for 28 counts of involvement in the proceeds of prosecutable crimes. Tsalikidis has been charged with 12 crimes, while Delis has been charged with an eight-count deal in proceeds from a crime that can be prosecuted.

Scamwatch reported an increase in investment scams in Australia, losing hundreds of millions of savings each year. The company said that I received it 90,000 fraud reports for 2025 alone. These scams are about $98 million lost by Australians, and almost half of the investment scams are involved. The fraudster also stole nearly $213 million in 2024, primarily through fake investment schemes.

Australia warns of an increase in crypto ATM fraud

Australian financial crime watchdog Austrak warned Australians about rising cases of Crypto ATM scams in June. Agency CEO Brendan Thomas; It was revealed The task force monitored customer activity for several months and found instances of fraud, fraud, or other illegal activities.

The Australian Transaction Report and Analytics Centre (Austrac) claims that the age group between 60 and 70 is the most victims of fraudulent activities. That demographic accounted for 29% of all transactions due to the value of cryptocurrency ATMs. Austrac said it will work with authorities and crypto ATM providers to address illegal activities.

“This action will attract a clear line in the sand and serve as a warning to other digital currency exchange providers who do not meet liability under the Money Laundering and Counterterrorism Financing Act.”

-Brendan Thomas, CEO of Oustrac.

The agency has set several conditions to protect the financial system from suspicious activities, including a $5,000 limit on cash deposits and withdrawals. It also added customer due diligence obligations, fraud warnings, and efficient transaction monitoring requirements.

Austrac also urged cryptocurrency exchanges to consider impose similar conditions to limit criminal exploitation. The agency argued that it would reduce exposure to money laundering and other serious crime risks.

Cybersecurity Centre in Australia It has been reported The Australian lost about $3 million in ATM scams last year. The agency also said it received more than 150 reports, including investment scams, horror mail and romance scams. They also argue that losses could be higher as many victims have not reported such crimes.