Search

ASIC warns against another cold calling scam

Reports of a phoney company operating out of Sweden have prompted ASIC to reissue its warning to the Australian public regarding scammers posing as overseas stockbrokers and investment managers. Known as ‘Stonewall Finance Ltd’, the illegal outfit is encouraging unsuspecting Australians to purchase shares in an offshore company, ‘Australian Biofund Investments Ltd’ via unsolicited telephone calls and emails. ‘Neither Stonewell Finance Limited, or Australian Biofund Investments Ltd, are registered with ASIC, and neither are authorised to provide financial services in Australia’ said ASIC’s Deputy Executive Director of Consumer Protection, Ms Delia Rickard. Ms Rickard said ASIC’s Swedish counterpart, Finansinspektionen, has also issued warnings urging consumers to beware. To report a financial scam or to find out whether a company is licensed in Australia, visit FIDO, ASIC’s consumer website. Alternatively, call the ASIC Infoline on 1300 300 630 or email infoline@asic.gov.au.

Add your comment

BNIQ sponsored byECU School of Business and Law

Students

6th-Australian Institute of Management WA20,000
7th-Murdoch University16,584
8th-South Regional TAFE10,549
9th-Central Regional TAFE10,000
10th-The University of Notre Dame Australia6,708
47 tertiary education & training providers ranked by total number of students in WA

Number of Employees

BNiQ Disclaimer