ASIC Warns of an Increase in Investment Fraud Posing as Companies


The Australian Securities and Investments Commission (ASIC) has issued a warning about an increase in investment fraud committed by scammers posing as companies or financial investment firms. Scammers often make contact through email accounts in Gmail and Outlook. The contact details of the fraudsters do not match the information published on the website of the legitimate company. ASIC advises the public to look for contact information that does not match independent sources. The regulator is aware of fraudsters who provide information and materials, including contact details and impressive brochures, to “check” their legitimacy. This information can be very convincing and look authentic. The only differences in the legitimate company’s documents are the contact details and/or bank details.


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