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
    which vanish once you've put your money in.
  • Phony brokers
    who lock you out of your account after receiving your funds.
  • The promise of huge returns
    in high-risk, unregulated industries, often overseas.
  • Romance or friendship scams
    that then lead to bogus investment opportunities. (See Romance section for more.)

 

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.