ASIC warns on scammers claiming to be ASIC
In an unusual twist the Australian Securities and Investments Commission (ASIC) has issued a warning calling for consumers to be wary of cold callers claiming to represent the regulator itself.
ASIC has stated that the calls are coming from offshore with claims they can assist in recovering funds lost in earlier software scams and may quote an Australian Business Number or also claim to represent software giant Microsoft.
Typically the scams involve people being asked to provide access to their computer and filling in online forms.
The regulator has warned people to hang up the phone or delete any emails which make claims to represent ASIC and to contact their financial institution if they believe they have been comprised financially.
ASIC has also reissued its standard warnings on phone-based scams stating the calls are usually not-anticipated and presented as if from a legitimate government of business organisation. They also require people to pay advance fees or provide access to banking details as part of the assistance on offer.
ASIC has stated legitimate government and business organisation do not request these details over the phone or via email.
AUTHOR
Jason Spits
Recommended for you
Adviser losses this week are quadruple the same period a year ago, with the industry falling into negative territory for the last 12 months.
Colonial First State has announced the latest manager to join its Edge managed accounts menu, focusing on providing investors with a strategic income.
Rising advice fees has prompted Radar Results to increase its price guide to a minimum of $3,000 per client to reflect the changing shape of the adviser landscape.
Investment consultancy Ascalon Capital has appointed a new partner, who joins from 20 years at Zenith Investment Partners, as well as a new chief executive amid a “bold new chapter” for the firm.
