½ñÈÕÈÈÃÅʼþ

½ñÈÕÈÈÃÅʼþis warning consumers about the misuse of ASIC’s logo on social media to promote fake investments and stock market trading courses and cold calling, and Telegram impersonations.

½ñÈÕÈÈÃÅʼþhas received a number of reports about ads for a ‘Stock Trading Master Class’. The ads have been seen on social media platforms, display the ½ñÈÕÈÈÃÅʼþlogo and claim to be sponsored by ASIC.

When consumers click on the ad, they are taken to a private Whatsapp group called Lonton Wealth Management Center. ½ñÈÕÈÈÃÅʼþlisted this entity on the on 21 May 2024.

These social media advertisements are misleading consumers by:

• Displaying the ½ñÈÕÈÈÃÅʼþlogo. ½ñÈÕÈÈÃÅʼþis not associated with this provider.
• Falsely claiming that the stock trading master class is sponsored/endorsed by ASIC. This is not true.

½ñÈÕÈÈÃÅʼþis also aware of repeated cold calls from persons claiming to be from ½ñÈÕÈÈÃÅʼþattempting to engage with consumers in obtaining a refund on an investment. This is a concern as ½ñÈÕÈÈÃÅʼþdoes not cold call consumers about investments or refunds on investments.

In addition, ½ñÈÕÈÈÃÅʼþhas also become aware of an impersonation account on Telegram, pretending to be an ½ñÈÕÈÈÃÅʼþsocial media account. The operators of this account are asking investors for money to release their investment funds held in Australia.

This is concerning because:

• ½ñÈÕÈÈÃÅʼþdoes not maintain a Telegram account.
• ½ñÈÕÈÈÃÅʼþwill never ask for money as upfront taxes or payments to release investments held in Australia.
• Entities that engage with consumers through private social media groups may be attempting to conceal their true identity.

How to tell a social media ad is not associated or endorsed by ASIC

A social media ad is not associated with ½ñÈÕÈÈÃÅʼþif it:

• is using the ½ñÈÕÈÈÃÅʼþlogo to promote investing or financial products and services. ½ñÈÕÈÈÃÅʼþwill never endorse a product or training course.
• claims to have a relationship with ½ñÈÕÈÈÃÅʼþ– they may say they are ‘supported’ or ‘sponsored’ by ASIC.
• claims to be from ½ñÈÕÈÈÃÅʼþbut refers to a third-party.
• directs to a social media account with the ½ñÈÕÈÈÃÅʼþlogo, but the account has likely been recently created as it doesn’t have a history of posts and is not using ASIC’s social media handles.

ASIC’s only official social media accounts:

• Facebook -
• X/Twitter - , and
• Instagram -
• LinkedIn -

Example of fake social media advertisement

What to do if you see this scam

STOP: If you see these fake ads, do not click on them. Scroll past, delete, or refresh your browser.

THINK: Check ASIC’s official social media accounts for any warnings. Check the social handles to make sure you’re viewing ASIC’s legitimate social media accounts listed above.

PROTECT: If there is an option to do so, report the ads directly to the social media platform, and also report the scam to . ½ñÈÕÈÈÃÅʼþis working with the National Anti-Scam Centre and social media platforms to get harmful content removed.

Think you have been scammed?

If you think you’ve been scammed, take these steps fast:

1. Do not send any more money. Block all contact from the scammer.
2. Report it to your financial institution. If you are not happy with your financial institution’s response, you can make a complaint to the .
3. Contact , a free government-funded service, which can help to develop a specific response plan if your identity has been compromised. IDCARE will never contact you out of the blue.
4. Be wary of follow-up scams promising to help get your money back.
5. Report it to to help stop the scammer.
6. Report the social media account to the social media platform, if there is an option to do so.
7. Warn your family and friends about the scam.

Go to for more detailed steps.

Further support

If you need to talk to someone, contact:

• Lifeline on 13 11 14 (24 hours) or their crisis support or
• Beyond Blue on 1300 22 46 36 (24 hours) or their

If you are experiencing problems with debt, contact:

• the National Debt Helpline on 1800 007 007 (Monday to Friday 9.30am to 4.30pm) or

Related links

½ñÈÕÈÈÃÅʼþis Australia’s corporate, markets and financial services regulator.