Investment scams try to convince you to invest in schemes and companies, which turn out to be fake. These investments offer opportunities with high returns, low risk and ‘get-rich-quick’ incentives. Recently we've seen a high prevalence of scammers spruiking cryptocurrency and playing on people's fear of missing out (FOMO).

Warning signs

• False advertisements – including fake celebrity endorsements and testimonies.
• Cold calls from a stockbroker, incentivising your investment.
• Callers offering to assist you with opening your cryptocurrency wallet, often done so by remote access.
• Encouragement to invest, including early withdrawal of superannuation.
• Sense of urgency – claims of a volatile market and possible missed opportunity.
• Promises of a guaranteed return on investment.

How to protect yourself

• If the returns sound too good to be true, they probably are.
• Avoid giving untrusted 'brokers' remote access to your computer or mobile device.
• Seek independent financial advice from an registered financial advisor via moneysmart.gov.au.
• Never provide personal information, bank account details or balances to a third party.

If in doubt, contact BOQ urgently on 1300 55 72 72 visit, www.boq.com.au/contact-us for our operating hours.