Security alert - investment scams

We are aware of an increasing number of investment scams across industry. If it seems too good to be true – it probably is. 

Be suspicious of anyone: 

• offering you high interest rates that you cannot access yourself through reputable entities 
• asking for payment using crypto-currency 
• that constantly contacts you and pressures you to make a quick decision 
• using the name of a reputable organisation to gain credibility (e.g. NASDAQ, Bloomberg, or says they act as a broker for an investment bank or foreign bank) 
•  asking you to make payment to an account with a name that has no apparent connection to the entity you believe you are dealing with 
• that provides you with documentation you cannot verify through independent sources 
• that contacts you from an email address that has no apparent connection to the entity that you believe you are dealing with. 

Do your own independent research on anyone you are dealing with to determine whether they are legitimate. Ask questions about who owns the entity, their financial services licence number and their address. Check the validity of any paperwork or documentation they issue and where it is sent from (e.g. their email address). If they can’t or won’t give you the answers, stop dealing with them. 

Scammers offering fraudulent investments will often create false entities which appear in Google searches and appear legitimate, so closely examine and cross-reference all correspondence before arranging a financial transaction. 

Before you make an investment decision, or arrange a significant financial transaction, we strongly recommend that you talk to someone you trust, or consult a financial advisor or accountant. Don’t be pressured to make a quick decision you could regret later. 

If you think you may have been scammed call IMB immediately on 133 462. 

Find out how to avoid these scams at: https://moneysmart.gov.au/investment-warnings/investment-scams