ASIC warns against impersonation scams

The Australian Securities and Investments Commission (ASIC) today released an alert on the rise in investment scams impersonating companies or financial investment firms.

The Aussie watchdog warned that scammers often contact victims through Gmail and Outlook email accounts. They often provide information and materials, including impressive brochures which may look convincing and authentic. The only differences to the real company’s documents are the contact details that do not match the information published on the legitimate company’s website.

ASIC also warned that scammers can make unsolicited call or message out of the blue promising high returns and profits. The regulator also warned that they can also request remote access to the victim’s computer using convincing reasons.


ASIC said:

ASIC is aware of scammers impersonating legitimate companies and then use convincing reasons for the victim to give them remote access (i.e. the ability to log into the victim’s computer or phone from their location). If someone asks you for remote access it is probably a scam.

The Australian regulator has also observed cases where scammers will work to build a relationship and gain the trust of their victims before even mentioning an investment opportunity.

ASIC added:

ASIC has received reports of people being approached over email, social media or dating apps prior to being offered an investment opportunity.

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