Australian law enforcement has launched a national campaign warning that cybercriminals are using artificial intelligence to build sophisticated investment scams capable of deceiving victims out of thousands of dollars.
The Joint Policing Cybercrime Coordination Centre unveiled its ‘ClickFit: Investment Scams’ campaign amid growing concern over AI-generated fraud.
The warning comes as Scamwatch figures show Australians have already lost more than $45 million to investment scams this year, after reported losses exceeded $160 million in 2025, making investment fraud the nation's costliest scam category.
Australian Federal Police Detective Superintendent Marie Andersson said advances in AI had significantly increased the scale and sophistication of investment scams.
“Where criminals see vulnerability and opportunity, they won’t hesitate to exploit it,” Andersson said.
“They don’t care about the time and effort that go into building a savings account, a nest egg or a retirement fund; they just want to steal it.”
Reported cases include a Queensland victim in their twenties who lost more than $160,000 in a single day through a cryptocurrency scam, while another victim in their sixties lost more than $100,000, including from their superannuation.
According to investigators, scams often begin with online advertisements or social media posts before victims are contacted by individuals posing as financial advisers. Fraudsters then use persistent communication, fake investment dashboards and fabricated profits to build trust before ultimately stealing deposited funds or demanding additional payments to release non-existent returns.
The JPC3 said first-time investors and retirees remain common targets, although victims span all age groups and genders. Cryptocurrency remains the most common lure, alongside fake share offerings, initial public offerings and celebrity-endorsed investment opportunities.
Andersson urged Australians to remain sceptical of high-return investment offers and to report scams without fear of embarrassment.
“These scammers prey on the vulnerability of Australians wanting to invest in their future,” Detective Superintendent said.
“Investing your money into anything should come with a high degree of caution. Scammers are becoming increasingly sophisticated in the ways they target vulnerable Aussies and we encourage Australians to be aware and alert.”
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David Hollingworth
David Hollingworth has been writing about technology for over 20 years, and has worked for a range of print and online titles in his career. He is enjoying getting to grips with cyber security, especially when it lets him talk about Lego.