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The ACCC is warning the community to watch out for investment scammers who promise the world but leave their victims with broken dreams and empty bank accounts. Men are almost twice as likely to be targeted by investment scams and lose significantly more money than women. People aged 45 to 64 most commonly fall victim. The scammers are sophisticated, convincing and persistent, which is why we sadly see people lose large amounts of money to them.

Further information is available at www. Use this form to make a general enquiry. Skip to Content Skip to Sitemap. Home Media Media releases. Beware high risk, no reward investment scams 17 July They can involve multiple calls, with multiple people who speak in investment jargon and provide you with access to professional looking websites and documents.

Your initial investment may seem to show promising results quickly but soon your money and the scammer disappear and you have lost everything. Unsolicited calls from scammers offering to roll your superannuation funds into a self-managed fund that will help you reduce your tax and provide great investment opportunities. In reality they are just stealing your superannuation funds. Binary options trading that involve predicting the movements of commodity, asset or index prices over a short time.

If you agree they direct you to a website with a login, account details and a trading platform. They appear to put your money into the account and demonstrate a number of successful trades to encourage you to invest greater sums. Then your money begins to disappear and so too does the scammer.

Hang up or hit delete on all cold calls and emails offering unsolicited advice on investing. Conduct thorough research before making any investment.

Never commit to any investment at a seminar — always get independent financial advice.