ASIC urges super trustees to step up and address serious gaps in anti-scam and fraud protections after reviewing 47 funds and finding weak and outdated member guidance

The regulator warned that the sector which safeguards about $4.3 trillion in retirement savings risks becoming a soft target for scammers, noting that super-related scams caused around $22 million in losses in 2025. ASIC identified shortcomings in the availability, clarity, and practical guidance provided to members, including limited reporting channels and insufficient support for scam victims, and urged trustees to improve prevention, detection, and response measures as scam risks continue to grow across the financial system…