Australia: how to check an investment platform and AFS licence
Verify ASIC licence details, authorised representatives, genuine contact information and the investment itself without assuming a licence means safety.
Use ASIC’s official professional-register route to check the licence holder or authorised representative and relevant permissions. Match the legal entity and independent contact details to the offer. An AFS licence is not ASIC endorsement, a profit guarantee or proof that a lookalike website belongs to the licensee.
A platform can misuse a genuine Australian Financial Services licence number while directing you to a fake website or unrelated recipient. Verification therefore needs to cover both the recorded entity and the person or platform making the offer.
This guide is for Australia. Different services and products can have different authorisation requirements. Do not treat a company number, crypto registration claim or overseas certificate as interchangeable with permission for the investment actually offered.
Identify the entity and the claimed permission
Find the legal name in the proposed agreement, the AFS licence or representative number claimed, and the product or service described. Ask who holds client money and who receives your payment. If these names differ, establish the relationship independently.
Moneysmart explains that investments may be offered by an AFS licensee or someone authorised by a licensee, and that permissions control the financial products involved. The correct entry needs to fit the actual activity, not merely share a familiar trading name.
Search official ASIC records independently
Start at the ASIC links provided by Moneysmart’s “Check before you invest” page, not a verification page supplied in a message. Search the correct register type and compare the legal name and number. Check restrictions or relevant representative relationships.
Where a website URL is listed, compare it carefully. Check current warnings and the Investor Alert List as additional information, not a substitute for positive verification. A new scam may not yet have a warning, and a clean search does not mean approval.
Contact the real firm to confirm the offer
Use independently verified contact details and ask whether the salesperson, platform, product and payment instructions are genuine. Do not accept a mismatch as a new division or temporary office solely because the caller says so.
Moneysmart warns that fraudsters misuse AFS licence details and impersonate licensed businesses. A convincing prospectus, social advertisement or AI-generated video can repeat true facts while misrepresenting the operator. Confirmation must come from outside the pitch’s own contact chain.
Understand the investment and limits of a licence
Explain to yourself how the investment makes money, where returns come from, how withdrawals work and what could cause a loss. Read offer documents and seek independent advice where needed. Do not rely solely on testimonials or a celebrity endorsement.
Moneysmart expressly says a licence does not mean ASIC endorses the company, product or advice, and does not guarantee you cannot lose money. Dispute access and investor protections depend on the actual entity, product and facts. Verification reduces risk; it does not remove investment risk.
If you have already paid, change the task
Stop treating a new verification payment or withdrawal fee as a way to complete the checks. Contact the sending provider and preserve what was claimed about the licence. Report the suspected scam through Scamwatch and follow appropriate crime-reporting guidance.
If your concern is misconduct by a real financial firm rather than a fake offer, Moneysmart distinguishes that from scam reporting. Use the provider complaint process and relevant supervisory or external-dispute route without assuming they have identical purposes.
A short checklist
- Identify the legal entity and claimed AFS permission.
- Search the correct official register.
- Match contacts, platform and recipient independently.
- Understand the product and loss risks.
- Use the appropriate reporting route if checks fail.
Common questions
Does an Australian Business Number prove investment authorisation?
No. A business identifier is not the same as permission for a financial product or service. Check the relevant official financial register and activity.
Can I rely on the licence number in the website footer?
No. It may be copied from a real business. Check the register and confirm directly with the genuine licensee using independently obtained contacts.
References
- Check before you investASIC Moneysmart · Australia
- Investment scamsNational Anti-Scam Centre / Scamwatch · Australia
- Report an investment scamASIC Moneysmart · Australia
- How to complainASIC Moneysmart · Australia
