ASIC publishes new investor alert list
The Australian Securities and Investments Commission (ASIC) today published a new investor alert list.
Consumers can use this list to help inform themselves as to whether an entity they are considering investing in could be fraudulent, a scam or unlicensed.
The new investor alert list replaces the previous Companies you should not deal with list and includes domestic and international entities ASIC is concerned are operating and offering services to Australians without appropriate licenses, exemptions, authorisation or permission. It also includes “impostor” entities, which are entities that impersonate or falsely claim to be associated with a legitimate business (also known as impersonation scams).
ASIC has also updated its investor checklist which provides consumers important information on what steps they can take before investing.
At launch, the new investor alert list includes 52 unlicensed entities and 25 websites impersonating legitimate entities. ASIC will continue to add to this list, as it is not exhaustive. There will be websites or entities that do not appear on this list that may be engaging in scam behaviour of which ASIC is not aware.
If you’ve seen a suspicious website and you think it might be an investment scam, find out how to report an investment scam by following the link. If you are unsure of the nature of the scam, please report it to scamwatch.gov.au.