The Australian Securities and Investments Commission (ASIC) has published a list of scammers masquerading as investment and loan companies, rorting Australians of millions each year.
Nine businesses have made ASIC’s initial list of scammers to look out for, with the list updated as more are discovered.
The listed entities were reported to have made unsolicited calls and emails to Australians, and were found to not hold an Australian Financial Services licence or Australian Credit Services Licence.
Most of the fake companies are located overseas. ASIC lacks international jurisdiction to investigate and prosecute, but is urging those suspecting a scam to report it as soon as possible to enable it to warn others.
Victims who give over their money to scammers based out of Australia are unlikely to see their money again.
Companies listed as fake investment or loan organisations are named below.
- Global E-Finance Investment Group
- GE Capital Finance SpA/GE Capital Finance Company
- Continental Private Equity LLC
- Chartered Capital Management
- Endeavour Mergers and Acquisitions
- Equities Trading Commission
- Lockhart Trading Company Limited
- MTC Global Group
- Ocean Financial Management
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