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Showing 11 - 20 of 30 results for "Investment scams"

Investment scams set to double

ANNABELLE DICKSON  |  TUESDAY, 24 AUG 2021
Australians have lost over $70 million to investment scams in the first half of 2021, a figure that is expected to double by the end of the year with increased reports of cryptocurrency scams, imposter bond scams and Ponzi schemes, according to the ...

Aussies lose $328m to investment scams

KARREN VERGARA  |  MONDAY, 7 JUN 2021
Fake investment opportunities fleeced Australians $328 million and accounted for the largest scams in 2020. This is according to the Australian Competition & Consumer Commission's (ACCC) latest report Targeting Scams, which unveiled a recording-breaking ...

ASIC issues warnings on investment scams

ANNABELLE DICKSON  |  FRIDAY, 14 MAY 2021
The corporate regulator identified several ongoing investment scams including duping consumers into establishing self-managed super funds, and advertisements for crypto-asset and contracts for difference disguised as fake news articles. ASIC has discovered ...

Aussies to lose $100m to fraudsters

KARREN VERGARA  |  THURSDAY, 1 APR 2021
Investment scams robbed Australians $65 million last year and are tipped to lose up to $100 million in 2021. This is according to Finbold, which found that investment fraud was the number one scam that prey Australians. Dating and romance scams (23%) ...

Crackdown on ERS scams continues

ELIZA BAVIN  |  MONDAY, 18 JAN 2021
... super scams which cost Australians over $6 million. Combined, the value of scams rose 23% in 2020, with a rise in investment scams and government impersonation scams. Scamwatch said it received over 5170 scam reports mentioning COVID-19 with over $6.28 ...

Investment scams most profitable

ELIZA BAVIN  |  TUESDAY, 15 DEC 2020
Australians falling victim to scams rose around 20% in November, with investment scams taking the most money from consumers at around $9.5 million, according to the ACCC. In November, money lost to all types of scams rose to $18.7 million, up 20.2% ...

ASIC warns Indigenous Australians over scams

ANNABELLE DICKSON  |  WEDNESDAY, 19 AUG 2020
... a 30% decrease in losses compared to 2018 with the average loss in 2019 at $4858. The greatest losses were to investment scams at $1.1 million. False billing came in at over $63,000. Men reported the most losses to investment scams with $341,797 lost ...

ACCC flags dangers of ERS

ELIZABETH MCARTHUR  |  WEDNESDAY, 19 AUG 2020
... yourself and you help other people." Rickard said last year alone Australians lost a reported $26 million in investment scams - and the actual figure is probably much higher. She wants to warn consumers to be particularly wary of bitcoin and cryptocurrency ...

Crypto investment opportunities outright scams: ASIC

ALLY SELBY  |  THURSDAY, 25 JUN 2020
ASIC has reported an increase in investment scams during the COVID-19 pandemic, with most cryptocurrency "opportunities" in particular panning out to be outright scams. The corporate watchdog saw a 20% increase in scam reports from March to May this ...

Investment scams pry $126m from Aussie hands

ALLY SELBY  |  MONDAY, 22 JUN 2020
Australians lost $126 million to investment scams in 2019, with many fraudsters using 'celebrity' endorsements to rort investors. According to the latest figures coming out of the ACCC's Targeting Scams report, Australians were defrauded ...