Types Of Scams
Boiler Room Telemarketing: Australians with Aussie accents living in Hong Kong, telephone Australians back home suggesting safe and secure investment.  The calls are made from “boiler room” call centres, including “rent a room for a day” offices in Hong Kong. (more)
 

Debentures:  High Risk financial products sold as low risk.  Essentially a debenture is an IOU.  It is the promoted “security” that begs for close scrutiny.  Extreme risk of losing 100% capital within 12 months. (More

Financial Brokers:  These scams are run by Finance Brokers involving valuers, solicitors, accountants, financial planners and developers, involving registered mortgage investments.  Mainly elderly retirees targeted and offered “safe and secure investment by way of investing their life savings in a  FIRST ranking mortgage over well chosen property and funds borrowed by “quality borrowers (More)

Junks Bonds and Shares: Promoted by accountants, financial advisers and security dealers. Portfolio of investment funds and superannuation funds placed in high risk junk shares, against the knowledge or authority of the client. (More)

Low Doc Loans: The victims may be your own parents who suffer in silence.  They may be your grown-up children on a low income.  These products are currently being promoted and marketed by fifteen big name lenders including the majors and are designed to deceive low income families and pensioners both here and in New Zealand. (More)

Managed Investments: Companies advertising multi-million dollar projects attract those seeking to invest in safe and secure investments to provide for a modest retirement income and are not savvy at managing large funds such as a superannuation payout.    The operators purchase outdated tired buildings in any of the CBD districts. (More)

Mezzanine Scams: This scam is used as second mortgage investment, yet touted as “safer than first mortgage:”    not as initial capital for research into planned project and feasibility study.  High risk of losing 100% capital within 12 months of contact with the promoter. (More)

Nigerian Scams: During the past five years these “spam email” activities have become prolific.  Telephone calls are also another method of communication.   These polite begging letters usually originate from Sierra Leone, Nigeria or Iraq.   The English used is poor quality. (More)

Promissory Notes: High risk of losing 100% capital within 12 months. Collusive nature - marketed by licensed Financial Advisers and assisted by solicitors, valuers, real estate agents, developers, banks and auditors. Investment offered in High Rise - High Risk CBD Unit construction. (More)

Six Week Turnarounds: Run by real estate agents and settlement agents/solicitors.  Real Estate agent lists a property for sale with elderly vendor.  Buyer found immediately prior to advertising. Buyer is actually linked to the selling agent. (More)

Solicitor Mortgage Scams: These scams are run by solicitors, involving valuers, developers, accountants, and real estate agents.  At times Mortgage Brokers are used as the go between.  (More)

Tax Effective Scams: Heavily promoted by Accountants and financial planners using “expert advice” from those running the schemes, detailed in glossy Prospectus registered with ASIC.    ASIC immediately stopped policing and reading prospectuses but simply rubber stamped the approval for these documents to enter the market place.  (More)

IF YOU KNOW OF OTHER SCAMS OR HAVE LOST FUNDS DUE TO POOR FINANCIAL ADVICE OR STRATEGIES WE WISH TO HEAR FROM YOU.  Please go to our contacts page.