Investment Scams
According to Australian Competition and Consumer Commission (ACCC) statistics, every year Australians lose more money to investment scams than any other type of scam. Investment scams normally appear out of the blue and promise very high returns with little to no risk. In this case the old saying is correct – if it sounds too good to be true, it probably is.
In all cases, money spent in an investment scam never goes to a real investment, it goes straight into a scammer’s bank account.
For up-to-date information on current scams in Australia, you can visit scamwatch.gov.au.
Protect yourself from investment scams
Tips: You can look at ASIC’s financial advisers register or their list of companies you should not deal with as a good starting point. Do your own research on people, companies and investments, check before you invest.
