INVSC016 Beat the scammers at their own game (478 words)

This article lists various types of scams, describes the characteristics of investment scams and how to avoid becoming a victim. This topic should be covered at least once every year as scammers are getting smarter and Australians are consistently losing millions of dollars.

We’ve all seen media reports about ordinary Australians losing their entire savings after responding to a phone, email or mail offer that was impossible to resist. While some people may be naïve, scammers are also getting smarter.

Financial stings have become a serious threat to Australian consumers and businesses. According to the ACCC’s Scamwatch website, there were ........... reports of scam in 2017, for a total loss of more than $.... million!