Security
At Fiducian, protecting your wealth includes helping you recognise and avoid scams. Fraudsters often target investors, retirees and individuals with savings. Below are some of the most common scams affecting Australians and what you can do to stay safe. If you receive an unexpected request relating to your finances, remember: STOP, CHECK, and PROTECT.
Diversification is the key
Imposter investment scams occur when criminals pretend to represent legitimate financial institutions, financial advisers or investment platforms. By copying company branding, creating fake websites and using stolen licence numbers, scammers attempt to convince people to transfer funds to accounts they control.
These scams can be difficult to identify because fraudsters often imitate real companies very closely. Emails may appear genuine, and websites may look almost identical to those used by legitimate investment firms.
Regulators such as the Australian Securities and Investments Commission regularly warn that scammers may impersonate licensed companies to gain trust and access to investor funds.
What to watch out for
How to stay safe
Warning Signs of a Fake Investment Opportunity
Investment scams often rely on attractive promises and urgency to persuade people to act quickly. Fraudulent opportunities may be promoted through social media, messaging apps, email or unsolicited phone calls.
While legitimate investments involve risk and require proper documentation, scams typically promise high returns with minimal explanation.
What to watch out for
How to stay safe
Cryptocurrency investment scams have increased in recent years as digital assets become more widely known. Criminals create fake trading platforms or investment apps designed to simulate real market activity.
Victims may see what appear to be profitable trades and increasing account balances. These gains are usually fabricated to encourage additional deposits. When investors attempt to withdraw funds, they may be told they must deposit more money to unlock their account or pay additional fees.
What to watch out for
How to stay safe
Superannuation scams target retirement savings by attempting to gain access to personal details or super accounts. These scams commonly involve phishing emails, text messages or phone calls pretending to come from a super fund or government agency.
Once scammers obtain login details or personal information, they may attempt to access the account or redirect funds.
What to watch out for
How to stay safe
Contact your super fund directly if you are unsure about a message
Description
Self-managed super funds (SMSFs) can offer investment flexibility, but they also come with significant responsibilities. Some scammers take advantage of this by encouraging people to transfer their super into fraudulent SMSF structures.
Victims may be told they can access better investment opportunities or gain early access to their super. Once funds are transferred, scammers may redirect the money into fraudulent schemes.
What to watch out for
How to stay safe
Confirm information through the Australian Securities and Investments Commission
Description
In Australia, superannuation is generally preserved until retirement or until specific legal conditions are met. Some scammers falsely claim they can help individuals access their super early through special loopholes or arrangements.
These schemes are often illegal and may result in significant tax penalties as well as financial loss.
What to watch out for
How to stay safe
These scams involve building trust over weeks or months before requesting money or investment assistance.
Description
Romance scams occur when criminals create fake online identities and build relationships with victims over time. These scams often develop gradually, with scammers communicating regularly to build trust and emotional connection.
Once trust is established, the scammer may introduce financial requests such as emergency assistance, travel costs or investment opportunities.
What to watch out for
How to stay safe
Description
While many people successfully meet partners through dating apps, scammers also use these platforms to build relationships with the goal of financial exploitation.
After gaining trust, scammers may request money or introduce investment opportunities.
What to watch out for
How to stay safe
Description
In some romance scams, criminals introduce an investment opportunity after building a personal relationship. Victims may be encouraged to invest in cryptocurrency or foreign trading platforms recommended by the scammer.
These platforms are typically fraudulent.
What to watch out for
How to stay safe
These scams attempt to steal personal information or gain access to financial accounts.
Description
Phishing scams are designed to trick individuals into revealing sensitive information such as passwords, account numbers or verification codes. These scams commonly appear as emails or SMS messages that look like they come from trusted organisations including banks, superannuation funds or government services.
A phishing message usually contains a link to a fake website designed to look almost identical to the legitimate organisation's login page. When someone enters their username and password, the scammer captures these details and may attempt to access the real account.
Phishing attacks are often sent to thousands of people at once and rely on urgency or fear to encourage quick responses. Regulators such as the Australian Competition and Consumer Commission and the Australian Securities and Investments Commission regularly warn consumers about phishing scams targeting financial accounts.
What to watch out for
How to stay safe
Contact the organisation directly if you are unsure whether a message is genuine
Description
Remote access scams occur when criminals convince individuals to install software that allows the scammer to control their computer remotely. Fraudsters may claim to be from a technology company, internet provider or security service and warn that there is a problem with the computer.
Once remote access software is installed, scammers may be able to view personal information, access online banking or investment accounts, and even transfer funds without the user realising.
Remote desktop tools such as AnyDesk or TeamViewer are legitimate programs often used by IT professionals. However, scammers may misuse these tools to gain unauthorised access to computers and financial information.
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Description
Government impersonation scams occur when criminals pretend to represent official agencies to obtain personal information or payments. These scams may involve phone calls, emails or text messages claiming to be from government organisations.
Common examples include scammers pretending to represent the tax office or government services, claiming there is an outstanding debt, refund or investigation. Victims may be threatened with legal action, fines or arrest if payment is not made immediately.
Government agencies such as the Australian Taxation Office and services connected to myGov warn that scammers often attempt to imitate official communications.
What to watch out for
How to stay safe
These scams promise unexpected financial rewards to encourage victims to share personal information or pay upfront fees.
Description
International lottery scams typically begin with an email, letter or message claiming that you have won a large prize in a lottery or competition. These messages may appear to come from legitimate organisations and often include official-looking documents.
However, the recipient usually did not enter the competition. The scammer will claim that certain fees, taxes or processing charges must be paid before the prize money can be released. Once payment is made, the promised winnings never arrive, and the scammer may continue requesting additional payments.
These scams rely on excitement and the possibility of a large financial reward to encourage quick decisions.
What to watch out for
How to stay safe
Description
Inheritance scams involve criminals claiming that a distant relative or unknown individual has left you a large inheritance. The message may come from someone claiming to be a lawyer, estate administrator or bank representative.
The scammer will usually explain that you are entitled to a share of the estate but must first pay legal fees, administrative costs or taxes before the funds can be released.
These scams often include official-looking documents or complex legal explanations designed to make the situation appear legitimate.
What to watch out for
How to stay safe
Description
Many scams rely on psychological tactics to persuade individuals to act quickly without carefully evaluating the situation. Promises of large rewards, exclusive opportunities or unexpected windfalls can create excitement and reduce caution.
Scammers often combine these offers with urgency, secrecy or emotional pressure to prevent victims from seeking advice or verifying the information.
Understanding these tactics can help individuals recognise when an offer may not be legitimate.
What to watch out for
How to stay safe