Investment scams are on the rise. I’m sure each and every one of us has received at least one dodgy email or text message asking for personal details or to click a suspicious link. These scams are becoming more and more sophisticated, so it is important to be aware. 

At Hewison Private Wealth we regularly receive word from clients about scammers trying to target them for financial gain. While the vast majority of attempts are thwarted, unfortunately some innocent people do fall victim.  

Moneysmart, an Australian Government initiative to help increase the financial literacy of all Australians, outlines a number of action points you can take to protect yourself from scammers. You can find more information at https://moneysmart.gov.au/ 

 STOP 

 If you are contacted out of the blue, stop and think before you react. Ask yourself if the message or call is real. Be wary if you are: 

• pressured to make a fast decision 
• offered something that seems too good to be true 
• asked for personal information 
• asked for access to your computer or device 

 CHECK 

Check whether any suspicious contact is from a real person or organisation. Look for their publicly listed number. Or, if you know the person, call them directly and ask if they really contacted you. 

Regularly check for suspicious activity in your bank and credit card transactions, credit report, and online shopping accounts. 

ACT

If you suspect something is not right, act fast. Block or delete the text or email, or hang up the call.  

Don’t send any money. Or, if you have sent money, contact your bank or financial institution straight away to report the scam. 

Warn your family and friends about the scam and watch out for any follow up ‘offers’ to recover lost money. 

Be on guard about every offer that is made to you. Remember, if it looks too good to be true, it probably is.