Beware of Fake Investment Bonds Targeting Australians

• Investment Scams
• Fake Bonds
• Australia

Learn how to spot and avoid fake investment bond scams in Australia, as criminals impersonate real businesses and promise high returns.

Fake Investment Bonds: A Growing Scam in Australia

Criminals are increasingly impersonating legitimate businesses to trick Australians into buying fake investment bonds. These scammers promise high returns and even claim that the investments are protected by the government, but in reality, they’re just after your money and personal information.

They lure people in by creating fake websites that look like legitimate businesses. Victims are asked to register their name, mobile number, and email on these fake sites. Once scammers have this information, they not only steal money but also use the personal details to commit other scams, leading to further financial and identity theft.

What Is Happening?

The National Anti-Scam Centre (NASC) has teamed up with the Australian Securities and Investment Commission (ASIC) to tackle these scams. In 2024 alone, they took down thousands of fake investment scam websites, protecting countless Australians from losing their savings.

How the Scam Works

This scam is sophisticated and hard to detect because the criminals set up fake emails and websites that closely mimic real businesses. For example, scammers recently impersonated Bunnings, a well-known retailer, to promote fake “environmental bonds.” These bonds supposedly supported carbon reduction and sustainability, with investment options ranging from $50,000 to $250,000 and promised returns of up to 9%—all claims were false.

The fake websites often use the branding of real businesses and even link to the actual company’s website to appear more legitimate. They also appear in search engine results for investment opportunities, making it even harder for people to tell the difference between real and fake investment offers.

How to Spot a Fake Investment Bond Scam

Here are key warning signs to watch out for:

• Unsolicited Offers: Be cautious of surprise investment opportunities that arrive via email, phone, or social media.
• Fake Websites: Scammers create websites that look almost identical to real businesses, including branding and links to real websites.
• High-Pressure Sales Tactics: They may pressure you to act quickly and invest large sums of money.
• Promises of High Returns: Unrealistic claims of high, guaranteed returns—like 9%—should always raise suspicion.
• Requests for Personal Details: Be wary if you’re asked to provide your name, contact details, or banking information up front.

Steps to Protect Yourself

Don’t let scammers steal your money or personal information. Here’s what you can do:

• Stop: Don’t give money or personal details to anyone you’re not sure about. Say no, hang up, or delete the message.
• Check: Always double-check the identity of anyone offering you an investment. Call the real organisation’s official phone number. Search online to see if there are scam warnings. Check ASIC’s website to see if the person or business is licensed.
• Protect: Act quickly if you think you’ve been scammed. Contact your bank immediately. Report the scam to Scamwatch to help protect others.

Where to Find Reliable Information

For accurate information about investment opportunities, visit the official websites of the Australian Securities and Investment Commission (ASIC) and Moneysmart. These sites list legitimate investment opportunities and provide guidance on avoiding scams.

Remember, if it sounds too good to be true, it probably is. Always do your homework before making any investment.