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FINAL REPORT The Scamseek team completed its final development on 29th June 2004 and made the final installation on 30th June 2004. The project team is now engaged in maintaining the system. The system as completed at the end of Phase 2 operates over a range of Internet data sources searching for scams that fall into the three main categories of interest to ASIC, that is, illegal offerings, unlicensed advisors and share ramping. The system operates on a 24/7 basis searching for evidence of fraudulent activities. The final scope and performance statistics of the systems will not be published but they show significantly superior performance above project specifications. In completion of the project ASIC has released the assessment that "any scam published in Australia or directed at Australians on any Internet medium has a high likelihood of falling under the scrutiny of the Scamseek system". The
project is now moving into a commercial spin-off process where the functionalities
of Scamseek system will be offered to other financial markets regulators.
Also the generic aspects of the technologies will be harnessed to support
surveillance in a wide range of other applications, that is
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