Phone investment scams
Australians have lost at least $400 million to telephone investment fraud. So beware of phone calls out of the blue selling investments, financial advice and financial products. Cold calling about financial products or services is illegal if the caller does not have an Australian financial services licence from ASIC.
Spot the fraudsters
Ask the right questions
Make sure they are licensed
Check our blacklist of cold callers
Telltale signs of phone investment frauds
What if you've been scammed
What to do if you've been cheated
Help us stop phone scams
Your stories
ASIC is happy to help you find out if an investment is legal, because the law can be complex. While we can help you understand the law however, we do not give investment or financial advice.
Use FIDO's basic tips and safety checks for the type of investment or financial product you are considering. If you need more help, contact our Infoline on 1300 300 630 or email them at infoline@asic.gov.au with your question.
FIDO Website: Printed 10/08/2008
