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The National Anti-Scam Centre will coordinate an investment scam fusion cell to combat the growing problem of investment scams, which are costing Australians more than $1 billion a year.

The fusion cell will be led by the ACCC and ASIC and include representatives from the banks, telecommunications industry and digital platforms. It will be the first fusion cell co-ordinated by the new National Anti-Scam Centre and will identify methods for disrupting investment scams to minimise scam losses.

Fusion cells are time-limited taskforces designed to bring together expertise from government and the private sector to take timely action to address specific, urgent problems. The National Anti-Scam Centre will coordinate a series of fusion cells with different participants to target particular scam types.

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