- Work out the risk first.
- Always investigate moneymaking schemes very carefully before parting with your money. Take time to seek professional or legal advice.
- Don’t be pressured into making a decision on the spot.
- Check Australian Securities and Investments Commission’s register of authorised financial representatives before you deal with unknown financial advisers. You can check their details online at www.fido.asic.gov.au or call ASIC.
- Ask for published INDEPENDENT substantiation of projected earnings, current financial statements, and prospectus. Ask for proof of testimonials of financial success.
- Ask the scammers these questions and they'll probably hang up in embarrassment:
- What is your Australian securities dealer's licence number?
- Who is lodging your prospectus?
- [If it's a foreign caller] What is your Australian Registered Body Number (ARBN)?
What is your Australian Business Number (ABN) and your Australian company number (ACN)?
What is the name of your company? Who owns your company? What is your address?
- If they're game enough to answer these questions, take the time to confirm their details with ASIC.
- Alert WA ScamNet.
