ASIC have recently issued the new scam warning regarding Bunnings and issuing of investment bonds.
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The scam targets people through fake websites and direct spam emails, posing as a responsible entity or brokers, including Bunnings hyperlinks and branding. However, Bunnings does not offer bonds or any other investment products. Legitimate bonds are traded through licensed financial institutions, not retailers.
This highlights the points to remember to avoid falling victim to scams like this one. The three key steps: stop, check and protect:
- Stop and think before acting.
- Check if the investment is legitimate and if the person or entity offering it is licensed or authorised to do so.
- Protect yourself by acting quickly if something feels wrong: contact your bank to stop any transactions and report any suspicious activity to Scamwatch.
To report a scam or find more information about scams, visit the National Anti-Scam Centre’s Scamwatch website at www.scamwatch.gov.au.
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