Have you received a message out of the blue from someone claiming to be a stockbroker? Be careful – it could be a scam.
The ACMA is warning people to watch out for stockbroker impersonation scams.
These scam messages purport to be from stockbrokers representing well-known companies. The messages often state they have investment opportunities offering high returns with little to no risk. The scammer then asks you contact them using a WhatsApp link in the message.
Do not click on links in unsolicited messages, especially if you do not know the sender.
Look out for:
- A sense of urgency – scammers often create a high-pressure scenario for you to contact them. By offering investment opportunities that are time sensitive, the scammer tries to get you to act quickly so that they can steal your money.
- Contact via WhatsApp – these scam messages direct you to contact them via a WhatsApp link in the message. Only use trusted channels to contact your financial institution, such as their app or website.
- Promises of high returns – if an offer seems too good to be true, it probably is. Don’t trust unsolicited communications that promise big financial returns – they are often scams.
Take action:
- STOP. Don’t give money or your information to anyone if unsure. Scammers will pretend to be from organisations you know and trust, like businesses, the police, your bank or government services. They will offer to help you or ask you to verify your identity with them.
- CHECK. Ask yourself if the message or call is fake. Never click a link in a message. If you’re not sure, say ‘no’, hang up or delete. Always get independent legal or financial advice from a financial advisor registered with ASIC before making financial decisions.
- PROTECT. Act quickly if something feels wrong. Contact your bank immediately if you notice unusual activity or if a scammer gets your money or information.
Common investment scams
Crypto scams, ponzi schemes and superannuation scams … Scamwatch has helpful information on these and other investment scams.
Help other Australians by reporting scams to Scamwatch. Reporting scams and talking about them not only helps to understand what happened but also informs authorities about scammer activities so that they can make it harder for scams to occur.
Get scam smart:
- Check ACMA’s tips for dealing with phone scams.
- Read Scamwatch’s advice about protecting yourself.
- IDCARE can help if your identity has been compromised or stolen. Call 1800 595 160 or visit www.idcare.org.
- Use our phone scam educational materials, which include posters in English, 10 other languages and for First Nations Australians, and graphics for social media.
The ACMA supports the government’s Fighting Scams initiative to address scams and online fraud and protect Australians from financial harm. We also support the work of the National Anti-Scam Centre, which coordinates government, law enforcement and the private sector to combat scams.