Australian regulator tests automatic removal from crypto scam sites

ACCC uses a countermeasures service from UK-based Netcraft, which provides a similar service to National Cyber UK Security. Center.

Cybersecurity experts have welcomed a new trial by the Australian Competition and Consumer Commission (ACCC) to automatically remove fraudulent websites. The trial saw dozens of scam sites, including crypto scams, taken offline after over 300 were reported.

The ACCC reported that Australians lost $113 million in cryptocurrency scams last year. The new trial will be in partnership with the Australian Securities and Investment Commission (ASIC) and will focus on effectively removing fraudulent websites once they have been reported to Australian regulators to protect potential investors from crypto fraud.

The ACCC uses a countermeasures service from UK-based Netcraft, which has provided a similar service for the UK's National Cyber ​​Security Center for four years.

According to a report by IT News, sites already removed include "phishing sites impersonating Australian businesses and government authorities", as well as "puppy, shoe, crypto investment scams". currency and technical support".

Ken Gamble, executive chairman of private intelligence firm IFW Global, welcomed the development. He told Cointelegraph that this was "the best news he had heard" as he had "seen the damage done by these sites by sophisticated scammers using cutting edge digital marketing techniques:"

“These crypto scam websites are unregulated, organized by criminal groups, many of them residing in Eastern Europe, who operate call centers, taking millions from moms and dads every day. to dads around the world."

Gamble said Australian government agencies must also be open to working with the private sector to be truly successful.

"We need law enforcement involved and working with different countries […] many of these major cryptocurrency exchanges are not useful for fraud investigations, mak...