Characteristics of a scam:
- you’re contacted out of the blue
- there’s a sense of urgency to act quickly
- it sounds too good to be true.
If you’re being offered a product or investment at a much lower price than normal or promised a return much larger than what you might get from the bank, you may be falling for a scam. If it seems too good to be true, it probably is.
Scammers rely on building trust with their victims before exploiting this relationship for financial gain. Ask yourself if you really know the person you’re talking to. It’s important to seek independent advice around investments.
To find a registered financial adviser, refer to ASIC’s MoneySmart tool at moneysmart.gov.au/