Yahoo Finance Scammed Aussies warned about follow-up threat
Scamwatch has issued a new alert about scammers targeting those who already lost money on investment scams.
As if it weren’t bad enough having money stolen the first time, Scamwatch has warned about a new scam targeting those who were already victims.
“Scammers are contacting victims who previously lost money to investment scams, claiming your lost funds were transferred to a crypto-trading platform and offering to ‘help recover’ the money,” Scamwatch said.
The message itself mentioned EuropeFX, which had been flagged as a scam broker with many user reviews claiming significant losses of money.
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The message claims funds that were invested with EuropeFX were traded into a crypto exchange in order to “maximise the profits”.
“Now all the trades have expired and your funds are ready to be withdrawn,” the message reads.
“We help clients to recover these funds. We tried to reach you on [number redacted] but your phone was unavailable.”
Aussies who invested in EuropeFX or received this message have been warned not to respond or interact with the message.
So far this year, more than $63.5 million has been lost to investment scams, Scamwatch data revealed. In 2022, more than $377 million was lost to investment scams.
Investment scams often involved promises of big payouts, quick money or guaranteed returns, Scamwatch said.
“Always be suspicious of any investment opportunities that promise a high return with little or no risk. If it seems too good to be true, it probably is and is highly likely to be a scam,” it said.
“Australians lose more money to investment scams than any other. They can be hard to spot so, before investing, always seek independent legal advice or financial advice from a financial adviser who is registered with ASIC.”
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