- Scam
Beware of the phone number 1800 422 326, associated with a scam selling fraudulent stock trading software. Learn how to identify and handle such calls effectively.
Understanding the Risks of 1800 422 326
The phone number 1800 422 326 / 00422326 has been reported by users as associated with a scam, specifically targeting individuals through deceptive marketing of stock trading software. This type of fraudulent activity is particularly concerning as it preys on those looking for investment opportunities.
Analysis of the Scam
One of the reviews dated 28 January 2015 described a call from a person identifying himself as Peter Cross, who offered a stock trading software package for a staggering $19,400. The promised returns of 18% per month instantly raise red flags, as such guarantees in the investment world are typically unrealistic and indicate potential deceit.
Upon further inspection of the caller's credentials, it became apparent that even the details provided were fabricated or misleading. The purported address in Sydney, Level 15 - 109 Pitt St, turns out to be tenanted by a payroll company, rather than the trading company Mr Cross claimed to represent. Moreover, the invoice sent out lacked essential business information such as an ABN number and clarity regarding GST, which are both crucial for legitimate business transactions in Australia.
Deceptive Practices Identified
The caller further instructed potential victims to verify claims through the ASIC register, referencing a specific business number. This tactic can create a false sense of legitimacy, especially when coupled with mentions of fake testimonials from non-existent technical magazines. These methods are effective phishing tactics designed to exploit your trust and encourage financial loss.
How to Respond if You Receive a Call from 1800 422 326
- Don’t engage: Hang up immediately. Engaging with scammers can lead to persistent calls.
- Report the incident: Notify the Australian Competition and Consumer Commission (ACCC) and relevant consumer protection agencies.
- Do your homework: When faced with unsolicited investment offers, research independently and seek advice from credible financial institutions.
- Utilise Reverse Phone Lookup: Use a service like Reverseau to identify the caller and see if others have reported similar experiences.
In conclusion, 1800 422 326 / 00422326 is linked to a concerning scam endeavouring to exploit unsuspecting Australians. If you receive a call from this number, remain vigilant and take the necessary steps to protect yourself from potential financial peril. Always remember, if it seems too good to be true, it probably is.
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What Our Users Reviewed
The caller identified himself as Peter Cross and that he was selling a Stock trading software package for $19400. Mr Cross claimed that this package could make a return of 18% per month on your trading.
The address shown on their correspondence is shown as Level 15 - 109 Pitt st Sydney The address is currently tenanted by a payroll company.
They send you an invoice for the full amount without any ABN number or whether it is GST inclusive.
Mr Cross instructs you to go onto the ASIC register - and then provides a business number that you type in. This information all looks legit. When you check the company name (GT Australia) after by yourself without his help you will find there a several companies with this name and that several have been de-registered. Mr Cross will also take to a couple of Technical magazines that provide testimonials about the product. When I later searched this mags they appear not to exist. It is a big time scam and hopefully they can be stopped.