Yahoo Finance Scam warning: Qantas bond offering is fake
ASIC is warning investors about a fake Qantas Airways corporate bonds offer targeting Aussies.
Scammers are promoting a Qantas bonds offer by Equity Trustees on the ASX as an attempt to legitimise the existence of the ‘fake bonds’.
ASIC said if you are offered a financial investment it is important to do your own research before depositing money into a bank account.
What to watch out for
ASIC said Aussies are being directly offered fake Qantas corporate bonds with an interest rate of 7.75 per cent per annum.
The investment offer is fake.
Although Qantas has issued corporate bonds, they are not available to the public.
“Any invitation to purchase Qantas bonds directly via email or telephone is a scam,” ASIC said.
The easy way to spot whether the bonds are legitimate Qantas corporate bonds, besides the fact they aren’t available to buy publically, is that they offer a 7.75 per cent coupon rate with reference by Equity Trustees.
The scam version uses that 7.75 per cent but lists it as the interest rate.
Equity Trustees confirmed that the fake bonds are in no way connected with the legitimate ASX-listed bonds they offer.
What to do if you’ve been scammed
ASIC has published a number of articles on its Moneysmart website in relation to investment scams and what to look out for.
ASIC’s MoneySmart said there are three main types of investment scams:
The investment offer is completely fake.
The investment exists, but the money you give the scammer doesn't go towards that investment.
The scammer says they represent a well-known investment company – but they're lying.
In any case, the money you 'invest' goes straight into the scammer's bank account and not towards any real investment.
ASIC said the investment offer may be a scam if the person:
does not have an Australian financial services (AFS) licence
or says they don't need one
rings you repeatedly, keeps you on the phone, or emails you a lot
says you need to make a quick decision or you'll miss out on the deal
offers you professional-looking prospectuses, brochures, share certificates or receipts, but their prospectus isn't registered with ASIC
If you spot any of these signs, hang up the phone or delete the email. If you manage to record any of the scammer's details, report them to the Australian Securities and Investments Commission (ASIC).
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