Keeping your money safe online
Financial and investment scams are a real problem, and unfortunately affect a large amount of people every day. There are many different types of scams, including investment scams, ransomware, romance scams, identity theft, and more.
You can read about some of the real-life stories from people affected by scams on Australia's ScamWatch website.
Before you send money to another individual, an investment opportunity, or any local or overseas organisation, it’s important that you understand how your money will be managed by the recipient and exactly who is handling the funds.
If it looks too good to be true, it probably is.
You should always perform your own independent research. You can do your own independent research by:
- searching for the name of the recipient on the web
- checking to see if the recipient is registered, or holds an appropriate regulatory licence in the region they operate from
- reading other people's reviews of the recipient's services
- asking a friend or family member to help review the situation and offer a fresh look at the recipient
- asking for assistance from the team at your bank or financial institution
You can also visit:
- Financial Conduct Authority’s ScamSmart and the FCA Warning List to check for existing scams, or to report a new scam.
- ActionFraud’s warning on cryptocurrency investment scams
- The National Cyber Security Centre, providing up-to-date advice on the latest reported cyber security issues, as well as general advice on staying safe online, options for reporting suspicious emails
- The Money Advice Service, offering guides on protecting yourself from banking and credit scams, as well as how to spot investment scams.
Digital currency transactions are impossible to reverse and may not be recoverable by your bank, or CoinJar.
Reporting a scam
ActionFraud is the National Fraud & Cyber Crime Reporting Centre. Your report will be passed to law enforcement agencies for assessment and intelligence purposes.
Although not all reports will be investigated by law enforcement agencies, all reports are important as they provide information on the latest cyber-crime activity and trends. You may be contacted by police if additional information is required.