Investment scams

Investment scams can come in various forms, all aimed at tricking you out of your money. Here are some common ones to watch out for:

 

Fake investment websites
that vanish once you’ve put your money in.

 

Phony brokers
who lock you out of your account after receiving funds.

 

The promise of huge returns
who lock you out of your account after receiving your funds.

 

Romance or friendship scams
that then lead to bogus investment opportunities.
(See Romance section for more.)

investment-scams

If you suspect you’re being targeted:

  • Be cautious of unsolicited messages promising big returns with low risk.
  • Seek professional advice before committing to any investment.
  • Watch out for investments claiming to avoid taxes; they may not be legitimate.
  • Research the company or platform online for reviews or scam warnings.
  • Check the credentials by looking up ASIC Connect for Australian businesses.
  • Beware of deepfake ads featuring fake endorsements from celebrities.
  • Avoid unregulated investments like overseas whisky schemes with unrealistic returns.