Red flags
- Guaranteed or very high returns with low risk.
- Pressure to act fast, or to keep it secret.
- Contact out of the blue: social media, dating apps, WhatsApp groups.
- Requests to move super, or to pay in crypto or by gift card.
- Celebrity endorsements.
Checks
- Search the business on ASIC’s professional registers and the adviser on the Financial Advisers Register.
- Check Moneysmart’s investor alert list.
- Call the company on a number you find yourself, not one they give you.
If it happens
Contact your bank immediately, report to Scamwatch and ReportCyber, and call IDCARE for support. See how to check a financial adviser.
Sources
General advice warning. This article is general information only and does not take into account your objectives, financial situation or needs. Rules and thresholds change; check the sources above. Consider the relevant PDS and our Financial Services Guide and seek personal advice before acting. FinForce is authorised under Financial Force Pty Ltd AFSL 238337. Shay has been authorised since 18 October 2011.