Investment Scams ASIC

Many people are falling victim to investment scams, which are rife with age-old scams and new fangled scams. ASIC categorises investment frauds and provides a list of bogus companies. ASIC is concerned about people losing money after investing in fake crypto assets. If you think you’ve been a victim, read on for some tips. This will help you avoid becoming a victim of an investment scam.

ASIC ensures that investment products sold in Australia are “true-to-label” (i.e., are as described on the prospectus) and that the issuer of the product is who they say they are. The use of fake prospectuses puts investors at risk of identity theft, so it’s important to check the identity of the company and avoid giving out personal information online. This will help you avoid falling victim to an investment scam.

ASIC has taken steps to ensure that investment products are “true to label” – meaning they are as transparent as possible. This means that the company behind the product is who they say they are. For instance, if an investment company uses fake prospectuses, you’ll risk losing your money. The same goes for the companies that impersonate legitimate companies online. It’s best to avoid trusting websites that don’t tell you the truth about their business practices and ask for an independent financial or legal advice.