Australia: report an investment scam, protect your identity and complain
Understand the roles of your bank, Scamwatch, ReportCyber, police, IDCARE and AFCA after an Australian investment scam.
Contact your bank or sending service immediately, report scams to Scamwatch and use police or ReportCyber where crime is involved. If identity is exposed, consider IDCARE and local credit-protection steps. A complaint about a financial firm follows its own process and may be eligible for AFCA.
Australia’s Moneysmart guidance distinguishes a scam report from a complaint about misconduct by a real financial provider. That distinction matters: warning others, reporting crime and challenging a bank’s decision are different objectives.
This guide is for Australia and uses current ASIC Moneysmart and Scamwatch sources checked on 4 October 2026. It does not promise a reimbursement result or apply the UK’s domestic APP rules to Australian payments.
Contact the service that sent your money
Moneysmart says to stop sending money and contact the relevant bank or financial institution. For a card or transfer, notify the bank or issuer; for crypto, tell the platform or exchange used to send it. Ask what can be stopped and what other protective action is available.
Explain whether you approved the transaction under deception or whether the transfer happened without approval. If the account or device was compromised, ask about freezing access and transactions. Keep the notification date, reference and real-payment records.
Report scams to Scamwatch
ASIC’s current guidance says to report all scams, including investment scams, to Scamwatch, run by the National Anti-Scam Centre. It collects reports to identify patterns, warn the community and support disruption and investigation through information sharing.
Include the domain, contact details, pitch, payment method and timeline. Reporting is useful even without a financial loss. It is not an individual refund determination, and should not replace contacting the provider. Preserve a copy so later information can be consistent.
Use police or ReportCyber for crime concerns
Moneysmart directs people to local police or ReportCyber where money, personal information or accounts have been stolen. Use the official links from its reporting page. Immediate danger should be handled through emergency services rather than a routine online form.
Keep the report reference with your bank and Scamwatch references, labelled separately. If the scam involved advertisements, also report those to the hosting platform. Content removal, criminal reporting and a provider claim do not necessarily happen through the same submission.
Address identity and device exposure
Moneysmart points affected people to IDCARE for free identity and cyber support and describes checking credit reports and requesting a temporary credit-report ban where appropriate. Follow the linked official guidance rather than relying on a recovery caller.
Change compromised passwords from a trusted device, review sessions and enable multi-factor authentication. Seek trusted technical help for remote access or malware. A stolen document, a compromised phone account and an unauthorised loan each require targeted action; keep track of what was actually exposed.
Use IDR and AFCA for a financial-provider dispute
If you are unhappy with a financial firm’s conduct or response, complain to the business first. Moneysmart calls the formal written process internal dispute resolution, or IDR. State the problem, desired outcome and relevant evidence; send copies and retain originals.
An eligible unresolved matter can go to the Australian Financial Complaints Authority under its current rules. AFCA is an independent dispute service, not a general recovery company for every foreign scam platform. Check scope and deadlines, and do not assume a Scamwatch report starts your bank complaint.
A short checklist
- Stop payments and notify the sending service.
- Report the scam to Scamwatch.
- Use police or ReportCyber for crime.
- Address identity and device risks with trusted support.
- Keep IDR and potential AFCA escalation separate.
Common questions
Should I report an investment scam to ASIC or Scamwatch?
Current Moneysmart guidance directs all scams, including investment scams, to Scamwatch, while distinguishing other financial-sector misconduct reporting to ASIC. Use the official page to select the appropriate route.
Will a Scamwatch report get my money back?
It supports intelligence, warnings and disruption. It does not itself determine a bank refund or guarantee a recovery.
References
- What to do if you've been scammedASIC Moneysmart · Australia
- Report an investment scamASIC Moneysmart · Australia
- Investment scamsNational Anti-Scam Centre / Scamwatch · Australia
- How to complainASIC Moneysmart · Australia
