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Golden Investment Opportunities
Have you been tempted to invest in high-risk money-making schemes
promising ‘risk-free investment’? Often the return is
nothing but misfortune.
What to look for
If you are trying to fast-track your way to wealth, don’t rely on the information you hear at an investment seminar. While investment advice can be legitimate and helpful, many scammers use the hype and buzz of a seminar to promote their property and investment scams. The investments on offer are often overvalued
and investors are later hit with fees and commissions that the promoters did not disclose. Incentives such as ‘limited opportunity’ or ‘rent guarantees’ may not deliver the benefits they promise when the total cost of the deal is taken into account.
Even if you don’t invest, the scammer can make a lot of money by charging attendance fees for seminars and courses, and by selling reports or books that may not be worth their asking price. Cold calling is an unexpected or unsolicited telephone call from someone you don’t know offering you an investment opportunity or financial advice.
The opportunities offered by cold calling are usually share, mortgage or real estate ‘investments’, high-return’ schemes, option trading or foreign currency trading. The scammers tend to operate from overseas as most of theiractivities are illegal in Australia. Cold calling about financial products or services is illegal if the caller does not have an Australian Financial Services licence. A scammer could
give you fake details, so you really need to do your homework.
Share promotion and hot tip scams usually come to you by a spam email or a phone message encouraging you to invest in a company whose shares are predicted to increase in value. Based on this anonymous tip, the scammer hopes that new investors will buy the stock and send the price soaring. The scammer will then sell off their shares at the new high price and make a profit. This selling generally drives the share price down dramatically, and people who bought the shares can be left with large losses.
If you are trying to fast-track your way to wealth, don’t rely on the information you hear at an investment seminar. While investment advice can be legitimate and helpful, many scammers use the hype and buzz of a seminar to promote their property and investment scams. The investments on offer are often overvalued
and investors are later hit with fees and commissions that the promoters did not disclose. Incentives such as ‘limited opportunity’ or ‘rent guarantees’ may not deliver the benefits they promise when the total cost of the deal is taken into account.
Even if you don’t invest, the scammer can make a lot of money by charging attendance fees for seminars and courses, and by selling reports or books that may not be worth their asking price. Cold calling is an unexpected or unsolicited telephone call from someone you don’t know offering you an investment opportunity or financial advice.
The opportunities offered by cold calling are usually share, mortgage or real estate ‘investments’, high-return’ schemes, option trading or foreign currency trading. The scammers tend to operate from overseas as most of theiractivities are illegal in Australia. Cold calling about financial products or services is illegal if the caller does not have an Australian Financial Services licence. A scammer could
give you fake details, so you really need to do your homework.
Share promotion and hot tip scams usually come to you by a spam email or a phone message encouraging you to invest in a company whose shares are predicted to increase in value. Based on this anonymous tip, the scammer hopes that new investors will buy the stock and send the price soaring. The scammer will then sell off their shares at the new high price and make a profit. This selling generally drives the share price down dramatically, and people who bought the shares can be left with large losses.
PROTECT YOURSELF
REMEMBER
A legitimate bank or financial institution will never ask you to click on a link in an email or send your account details through an email or website.
A legitimate bank or financial institution will never ask you to click on a link in an email or send your account details through an email or website.
CAUTION
Never send your personal, credit card or account information by an email or enter it on a website that you are not certain is genuine.
Never send your personal, credit card or account information by an email or enter it on a website that you are not certain is genuine.
THINK
Don’t give out your personal, credit card or account details over the phone unless you made the call and the phone number came from a trusted source.
Don’t give out your personal, credit card or account details over the phone unless you made the call and the phone number came from a trusted source.
INVESTIGATE
www.NigerianSpam.com has links to websites with the latest information and tips on how to protect yourself online. Keep your security software up to date to detect and remove viruses and other malicious software. A computer professional can advise you about this.
www.NigerianSpam.com has links to websites with the latest information and tips on how to protect yourself online. Keep your security software up to date to detect and remove viruses and other malicious software. A computer professional can advise you about this.
ASK YOURSELF
Are the contact details provided in an email correct? Telephone your bank or financial institution to ask whether the email you received from them is genuine. Use a phone number that you know is legitimate, from an account statement, the phone book or the back of your ATM card do not rely on the contact details provided in the email.
Are the contact details provided in an email correct? Telephone your bank or financial institution to ask whether the email you received from them is genuine. Use a phone number that you know is legitimate, from an account statement, the phone book or the back of your ATM card do not rely on the contact details provided in the email.