Investment Scam Alerts Australia

Common scam types reported in Australia

• Fake trading platforms — slick websites with no real product behind them.
• Fake crypto exchanges — clones of real platforms that block withdrawals.
• Impersonation websites — lookalike domains imitating real brokers.
• Social media trading groups — coordinated 'mentors' driving deposits.
• Celebrity endorsement scams — fabricated quotes used in ads.
• Recovery scams — targeting victims with promises to recover lost funds.
• Withdrawal fee scams — demands for taxes or fees to release funds.
• Remote access scams — requests to install screen-sharing software.

Red flags Australians should watch for

• Guaranteed returns or 'risk-free' trading claims.
• Pressure to deposit more or upgrade to a 'VIP' account.
• Requests to send funds in crypto to recover a 'frozen' account.
• Account managers who trade on your behalf without proper authorisation.
• Unclear company name, no ABN, or unverifiable address.
• Withdrawals blocked unless additional fees or taxes are paid.
• Unrealistic testimonials, celebrity endorsements or fake regulatory badges.

What to do if you suspect a scam

• Stop all communication and do not send further funds.
• Contact your bank immediately to attempt a chargeback or transaction block.
• Report to Scamwatch and ASIC.
• Be very cautious of any 'recovery' service that contacts you afterwards.