- Scam
One contributor reports 08 5116 0517 (0851160517) attempted to recruit them into an online trading scam. Community intelligence for this Western Australian number.
Online Trading Scam Report for 08 5116 0517
A single contributor has flagged 08 5116 0517 (also written as 0851160517) for an attempted online trading scam recruitment. The caller targeted the recipient with a scheme designed to draw them into fraudulent trading activity, which is a common tactic used by investment fraud operators.
This Western Australian local service number allocated to Symbio Networks has been linked to an unsolicited call attempting to convince the recipient to participate in online trading activity that carries significant financial risk to the victim.
What the Caller Attempted
According to the contributor's report about 0851160517, the caller used a standard recruitment pitch to try and rope them into an online trading scam. The approach suggests the operator was attempting to establish trust before introducing investment products or trading platforms.
The fact that the recipient answered the call from 08 5116 0517 directly gave the scammer an opportunity to launch their pitch, which is why many contributors report these calls come in waves as bad actors test different numbers and approaches.
Why This Matters
Online trading scams targeting Australian consumers often begin with unsolicited calls from numbers like 08 5116 0517. Once a victim is convinced to open an account on a fraudulent platform or deposit funds, recovering money becomes extremely difficult. The scammers typically use high-pressure tactics and false claims about market opportunities to accelerate the recruitment process.
What to Do If You Receive a Call from 08 5116 0517
If 08 5116 0517 or 0851160517 calls you:
- Do not: Engage with investment pitches from unsolicited callers, provide bank details, download apps they suggest, or transfer money to trading platforms they recommend
- Do: Hang up immediately, block the number, and verify any investment opportunity through official Australian financial regulators before proceeding
- Verify independently: Contact ASIC (asic.gov.au) to check if the platform or person is licensed before engaging further
Legitimate investment firms do not recruit customers through unsolicited cold calls offering guaranteed returns or time-limited opportunities.
How to Report 08 5116 0517
If you've received a scam call from 08 5116 0517 (0851160517), report it through these official Australian channels:
- Scamwatch: scamwatch.gov.au - report the call and trading scam details
- ASIC: asic.gov.au - if the scammer mentioned a specific investment product or platform
- ACMA: acma.gov.au - complaints about unwanted calls and telemarketing
- ReportCyber: cyber.gov.au - if the scam involved a malicious app or website
- Reverseau: Help other Australians by sharing your experience with 08 5116 0517 on Reverseau. Community reports help identify patterns and protect others
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WRITE A REVIEWFrequently Asked Questions
What is the online trading scam from 08 5116 0517 about?
The contributor who answered a call from 08 5116 0517 (0851160517) reported the caller attempted to recruit them into an online trading scheme. These scams typically involve fake trading platforms, fraudulent brokers, or investment groups that promise high returns but are designed to steal deposits.
Should I answer calls from 0851160517?
No. If you don't recognise 08 5116 0517, let it go to voicemail. Legitimate organisations will leave a message or contact you through official channels. Once you answer, scammers have confirmation your number is active, leading to more calls.
What should I do if I've already engaged with the caller from 08 5116 0517?
Stop all communication immediately and do not send money. If you've already transferred funds to a platform recommended by 08 5116 0517 (0851160517), contact your bank right away and report the scam to Scamwatch (scamwatch.gov.au) and ASIC (asic.gov.au). Early action improves chances of fund recovery.
How can I verify if a trading platform is legitimate before engaging?
Check ASIC's register at asic.gov.au to confirm the company, platform, or individual offering investment services is licensed. Calls from 08 5116 0517 or similar numbers offering investment opportunities that aren't on the ASIC register are almost certainly scams.
Can I block 08 5116 0517?
Yes. Most phones allow you to block numbers directly. On iPhone, open the call log, tap the info icon next to 0851160517, and select 'Block this Caller.' On Android, go to Recent Calls, press and hold 08 5116 0517, and select 'Block/Report spam.' This prevents future calls from reaching you.
Who allocated 08 5116 0517 to Symbio Networks?
The number 0851160517 is registered as a Western Australian local service allocated to Symbio Networks Pty Ltd, a legitimate telecommunications provider. However, scammers can spoof or misuse local numbers, so legitimate allocation doesn't guarantee the caller's intent is genuine.