0429 864 406: Scam Alert - Indian Scammers Posing as Stock Brokers

• Scam

The phone number 0429 864 406 has been reported as a scam by users, specifically linked to Indian scammers impersonating online stock brokers. Learn how to handle calls from this number effectively.

Overview of 0429 864 406

The number 0429 864 406 / 0429864406 has recently garnered attention from concerned users, being classified as a scam. Reports indicate that this number is linked to fraudulent activities involving individuals posing as online stock brokers from India.

User Reports Summary

On 18 June 2022, several users reported receiving calls from this number, warning that it was associated with a group of scammers intent on deceiving them. The consistent theme among these reports highlighted a sophisticated scam where the callers presented themselves as legitimate stock trading professionals, promising lucrative investment opportunities.

Nature of the Scam

This particular scam typically involves callers enticing potential victims with the allure of high returns on investments. They use persuasive tactics to obtain personal information, often leading to financial loss. Victims are misled into thinking they are dealing with a credible brokerage when in fact they are just speaking with fraudsters looking to exploit their trust.

How to Handle Calls from 0429 864 406

• Don't engage: If you receive a call from this number, it's advisable not to engage in conversation. Hang up immediately to avoid falling prey to their strategies.
• Block the number: Most smartphones have an option to block unwanted numbers. Prevent further communication by blocking this number on your device.
• Report the call: Consider reporting the scam to local authorities or through platforms dedicated to identifying and warning about scams, such as Reverseau.
• Stay informed: Be cautious and stay updated on the latest scams through resources like "Who Called Me Australia" or by conducting a "Reverse Phone Lookup Australia" for suspicious numbers.

Conclusion

In light of these reports, it's clear that 0429 864 406 / 0429864406 is operating as a fraudulent phone number targeting unsuspecting individuals. Stay vigilant and spread awareness to help protect others from these deceptive practices.