Scam alert
Key points
Scammers are impersonating Bunnings Warehouse by offering fake sustainability investment bonds.
The scam offers higher than market returns and claims that investments are protected by the government.
It contains links to Bunnings’ genuine website, but Bunnings does not offer bonds or any other investment products.
ASIC is warning consumers about scammers impersonating legitimate businesses and offering fake investments, such as the recent investment bond scam impersonating Bunnings. The scammers set up webpages that appear to be genuine by containing links back to the real businesses’ websites including popular retail brands such as Bunnings and Australian financial service licensed entitles.
How it works
The scammers target people through a fake website highlighted in internet searches for investment opportunities, as well as direct spam emails posing as a responsible entity or broker which directs them to the fake website.
The website features Bunnings branding and hyperlinks that direct back through to the retailer’s genuine webpage in a bid to appear legitimate.
Consumers are offered three investment options ranging between $50,000 and $250,000, with higher than market returns of up to 9% advertised. The scammers claim falsely that the investments are backed by Bunnings and protected under government finance regulations.....
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