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Scam alert:

Fake Term Deposit and bond scams

There has been an increase in investment scams posing as legitimate Term Deposit or bond offerings. Those being targeted will be asked to fill in a form via a 'contact us' page' from which scammers will then initiate contact. They will appear knowledgeable/sophisticated and insist on funds being transferred into a fake investment account.

Always treat unsolicited contact about investment opportunities as suspicious and remember to Stop, Check and Reject if you’re unsure.

What's an investment scam?

  • An investment scam is when someone contacts you out of nowhere, either via phone, email, or social media, offering the chance to invest in a 'once-in-a-lifetime opportunity to invest, including Crypto. They may pretend to be anyone, from a stockbroker or a portfolio manager to an investment professional. They offer quick returns with little to no risk involved. To appear legitimate, scammers may use websites, documents or apps that look professional. They may even pay out the first few investments to convince victims to invest even more.

    To learn more about Crypto scams, head to our Crypto scams' page.

How to spot an investment scam and protect yourself

  • Stop

    • Be suspicious of ‘investment opportunities’ offering high returns with little to no risk.
    • Stay alert to online interactions, especially through social media ads endorsed by public figures or popular TV programs.
    • Look out for sponsored ads and AI technology that impersonate well-known public figures. These may be used to give a false sense of legitimacy to the investment scam.

  • Check

    • Sense check investment opportunities with friends and family before committing to anything. They may help identify warning signs or red flags that you might have missed. 
    • Research and check reviews by searching the investment name with the word ‘scam.’ 
    • Consult ASIC's list of companies you should not deal with by using the ASIC search portal. If the company that called you is on the list, do not communicate with them.
    • Understand how to check if a company or a person is licensed on MoneySmart. 

  • Reject

    • Do not provide your details to unsolicited call or emails about investments, especially from unknown sources. Hang up or delete the email.
    • If you are being pressured to make a decision about your money or investments, hang up, block, report and do not respond to any subsequent attempts to contact you.
    • Understand that if you participate in such investments, chances of recovering your funds, let alone seeing your returns are extremely slim. 

Money making opportunity too good to be true? Learn more about investment scams

Stay alert while investing

  • Investment scams are not the only risk you should consider while investing, it’s important that you understand the risks associated with any investment. For independent information about investment choices, visit MoneySmart website, which has useful information on products such as term deposits, as well as tips on how to choose a financial adviser.*

Been scammed? What next?

  • Get in touch

    If you or someone you know is a CommBank customer and has been targeted or lost money as a result of being scammed, contact us.

    Report it

    Report the scam via the Australian Cyber Security Centre or by sending an email to hoax@cba.com.au. Reports may be referred to the police for investigation.

    Take control and stay protected

    Change your passwords and PINs straight away if you suspect your security has been compromised. Change these regularly as a preventative measure.

    Seek support

    Contact IDCARE on 1800 595 160. IDCARE is a free, government-funded service that provides support to victims of identity crime.

We're here to help

  • * As this information has been prepared without considering your objectives, financial situation or needs, you should consider its appropriateness to your circumstances.