ASIC warns seniors about new trust fund scam
Just when you thought it was safe to pick up the phone, the Australian Securities and Investment Commission (ASIC) is warning seniors to be on the high alert regarding yet another telephone scam, this time relating to trust funds.
The cold calls claim that investment proceeds have been stopped by ASIC and held for seniors in a trust, asking individuals to provide further funds while profits are held.
ASIC has warned seniors that these calls are from overseas and not legitimate, advising anyone who receives an unexpected call along these lines to hang up.
ASIC Deputy Chairman Peter Kell said, “These scams are constantly evolving and are becoming more sophisticated in their efforts to convince unsuspecting consumers.”
Have you ever fallen victim to a scam?