08 7077 7423: Scam - Investment Fraud Attempt

• Scam

Beware of calls from 08 7077 7423, reported as a scam by users in Australia. Learn how to identify and respond to this investment fraud attempt.

Understanding the Risks of 08 7077 7423

The phone number 08 7077 7423 / 0870777423 has raised significant alarms among users who report it as a scam. Following reviews and reports, it becomes clear that this number is being used to execute investment fraud, specifically targeting individuals by promising lucrative returns on trading earnings.

User Reports Highlight Suspicious Activity

A user reported on 7 December 2022 that their interaction with this number felt suspicious. The subsequent review on 8 January 2023 elaborated on the experience where the caller claimed to be associated with Combank, a reputable Australian bank, while inconsistently hinting at their location in both Adelaide and Brisbane.

The caller enquired about the user's savings, which is a common tactic scammers employ to gauge potential financial involvement. When the user feigned low savings status, the caller swiftly ended the conversation, further suggesting that the aim was not genuine financial advice but rather an attempt to mislead and exploit unsuspecting individuals.

Identifying the Scam

This kind of scam falls under the category of investment fraud, where individuals are approached with promises of high returns on minimal investments, often leading to financial loss. The inconsistency in location and the abrupt end to the call are red flags that should not be ignored.

How to Protect Yourself

When dealing with calls from numbers like 08 7077 7423 / 0870777423, consider the following steps:

• Do not engage with the caller. If they seem suspicious, it's best to hang up immediately.
• Do not share personal or financial information, especially if the legitimacy of the caller is in question.
• Report the number to relevant authorities, such as the Australian Competition and Consumer Commission (ACCC), or utilise platforms like Reverseau for more insights on untrusted callers.
• If you are unsure about a call, consider using a reverse phone lookup to verify the legitimacy of the number.

Conclusion

Calls from 08 7077 7423 / 0870777423 should be treated with caution. As highlighted by user reports, it is likely an attempt at investment fraud, veiled under the guise of credible financial advice. Always remain vigilant and aware when dealing with unknown numbers. If you suspect you're facing a lengthy scam attempt, reach out to platforms like Reverseau for support and information regarding suspicious calls.