- Investment Scams
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- Financial Fraud
Scammers are posing as stockbrokers with high-return offers via WhatsApp. Learn how to identify and avoid these dangerous investment scams.
Beware of Fake Stockbrokers Offering ‘Too-Good-to-Be-True’ Deals
On 13 June 2025, the Australian Communications and Media Authority (ACMA) issued a warning about a new wave of investment scams—this time, involving impersonators claiming to be legitimate stockbrokers. These fraudsters contact unsuspecting Australians through unsolicited messages, often offering high-return investments that promise minimal or no risk. But in reality, they’re designed to trick you into handing over your money.
How the Scam Works
The scam typically begins with a message from someone pretending to be a stockbroker from a well-known financial institution. They may use a professional tone and reference credible-sounding companies to win your trust. The message often contains a WhatsApp link for you to contact them and learn more about the ‘opportunity.’
Important: Legitimate financial professionals will not cold-message you on WhatsApp about investment opportunities.
Key Warning Signs
- Urgency: You’re pressured to act quickly on a so-called limited-time offer.
- WhatsApp contact: Scammers ask you to reply or click a link to connect via WhatsApp. Trusted organisations will never use informal platforms for professional outreach.
- High returns, low risk: Offers that sound too good to be true usually are. Financial investments always carry risk—and no one can guarantee big returns.
What You Should Do
- STOP: Never provide money or personal information to anyone you can’t verify. Scammers are skilled at impersonating banks, brokers, or government agencies.
- CHECK: Is the message or call genuine? Don’t click links, and don’t respond. If unsure, say ‘no’, hang up, or delete the message. Seek independent advice from a licensed financial advisor registered with ASIC.
- PROTECT: If something doesn’t feel right, act fast. Contact your bank if you’ve noticed suspicious activity or handed over any information. You might still be able to stop the damage.
Common Investment Scams to Watch Out For
- Cryptocurrency scams: Promising skyrocketing returns with minimal understanding or transparency.
- Ponzi schemes: Where ‘profits’ are paid using money from new investors.
- Superannuation scams: Scammers may pose as advisors offering to ‘help’ you access your super early.
How You Can Help Others
Reporting scams not only helps stop scammers—it protects others from falling victim too. Share your experience with Scamwatch and encourage open discussions with friends and family. The more we talk, the less power scammers have.
Stay informed and stay alert—your vigilance could save more than just your wallet.
Comments from our readers
Important warning indeed
While the article highlights crucial aspects of investment scams, it would benefit from specific examples of legitimate stockbroker practices to help readers better differentiate between genuine offers and fraudulent ones. Clearer guidelines would enhance its effectiveness.
Hidden dangers
I can relate to this! A mate of mine received a WhatsApp message from someone claiming to be a broker. They were promising huge profits, but he was unsure and didn’t respond. Thankfully, he did some checking and avoided falling for it. This stuff is all too real; we need to stay vigilant!
Scam awareness curiosity
This is alarming! How can we easily verify if a broker is legitimate before getting drawn into any of these scams?
Great information
Thank you for this important warning! It's crucial for everyone, especially newcomers to investing, to be aware of these scams. Understanding the tactics used by fraudsters can help us protect ourselves and our loved ones. Keep up the great work in raising awareness!