19/08/2025
With all the scams around and as they become more sophisticated, it can be hard for even the most savy person to spot a legitimate investment opportunity. NAB has released the below information that is worth a read.
SPOT THE RED FLAGS
Unexpected contact from a ‘financial advisor’. Criminals may claim to be from a bank, financial institution or investment company, sending you a fake prospectus or link to a website that copies the company’s branding.
It seems too good to be true. You’re promised low-risk investments with higher-than-average returns, often involving shares, foreign currency exchange, treasury bonds, term deposits, cryptocurrencies and real-estate schemes.
Unsolicited advice. Never take investment advice from someone you’ve met online. If the advice is from someone you know, like family or a friend, they may have unknowingly fallen for a scam.
Celebrity endorsements. Criminals create ‘news’ stories, online ads and videos using artificial intelligence (AI) so it looks like celebrities are promoting an investment.
Alternative payment methods. You’re asked to make payments using cryptocurrencies, gift cards and money transfers like Western Union.
Remote access requests. Criminals may ask you to download remote access software, often claiming they need to ‘set up a trading platform’, which could infect your computer or device with a virus.
BEFORE YOU INVEST
Confirm an offer is legitimate by calling the company on their official, publicly-listed phone number. NAB’s phone number can be found on our website and on the back of your cards.
Check the Australian Securities and Investments Commission (ASIC) website at asic.gov.au to confirm the person offering advice is licensed.
Check the investor alert list on the Moneysmart website at moneysmart.gov.au for companies and websites that have been flagged as scams.