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Canberra Today 20°/24° | Friday, March 29, 2024 | Digital Edition | Crossword & Sudoku

Police chief warns of scams

CANBERRANS are being urged to protect themselves against online investment scams.

Chief police officer for the ACT Roman Quaedvlieg said sophisticated criminals are using the internet to target the retirement savings of Australians.

“Organised criminals are targeting the high levels of superannuation and retirement savings of Australians through the use of sophisticated websites and high-pressure sales tactics,” Quaedvlieg said.

“The scams are usually based off-shore and, in most cases, criminals and organised crime syndicates are making initial contact with people by phone or mail to encourage them to invest in their fraudulent scam, which to the unsuspecting citizen seems legitimate when cross-referencing information online.”

A multi-agency task force comprising law enforcement across all States and Territories and federal bodies has been developed to disrupt fraudulent cyber-enabled investment scams (known as “boiler-room” fraud) and harden the Australian environment against this type of organised criminality.

“While we have not experienced a spike in reporting of this type of activity in the ACT, we remain vigilant and warn Canberrans, particularly those approaching retirement or looking at investment options, to be wary if called by someone offering investment opportunities. You should always seek independent financial advice before making an investment.”

It is believed that more than 2000 Australians have lost in excess of $90 million to these scams.

For more information visit moneysmart.gov.au or call 1300 300 630.

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