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Showing 21 - 30 of 48 results for "Investment scam"

Aussies shell out $51m on crypto fees

KARREN VERGARA  |  MONDAY, 31 JAN 2022
Australians have forked out $50.9 million on cryptocurrency trading fees as more intend to invest in this asset class. According to Finder, Bitcoin charges a fee of 0.6% based on the purchase price for parcels less than $10,000, while some exchanges ...

Bond scam defrauds SMSFs $2.8m

KARREN VERGARA  |  MONDAY, 15 NOV 2021
A fake bond scam run has allegedly defrauded self-managed super fund members of $2.8 million. Richard Emil Ayoub, an American national, allegedly funnelled the money into Bitcoin between March and August 2021 after promoting it to investors as a fixed ...

Investment scams set to double

ANNABELLE DICKSON  |  TUESDAY, 24 AUG 2021
... cryptocurrency, especially through Bitcoin, and cryptocurrency scams were also the most commonly reported type of investment scam, with 2240 reports," ACCC deputy chair Delia Rickard said. Scammers pretend to have highly profitable trading systems based ...

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
The Australian Taxation Office (ATO) has confirmed it is still working with the Australian Federal Police (AFP) to crack down on early release of super scams which cost Australians over $6 million. Combined, the value of scams rose 23% in 2020, with ...

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% ...

Federal Court freezes investment scam, winds up SMSF operator

ANNABELLE DICKSON  |  TUESDAY, 27 OCT 2020
The Federal Court has frozen the funds of a suspected investment scammer and ordered the winding up of two unlicensed financial services businesses, upon referral from the Australian Securities and Investments Commission (ASIC). The Federal Court has ...

Man arrested over investment scam

ANNABELLE DICKSON  |  FRIDAY, 16 OCT 2020
... investigation by the Australian Securities and Investments Commission has culminated in an arrest over a suspected investment scam. The 42-year-old Melbourne man was arrested following a joint investigation by ASIC and Victoria Police E-Crime Squad which ...