Avoiding investment scams - the "binary options" scam

The Australian Securities and Investments Commission, through its SCAMwatch program, recently issued a warning about "binary options scams".


Scamwatch is warning investors to beware of binary trading scams that lure you in with the opportunity to make money through asset price movement. 

So far this year Australians have lost $3 million to these scammers.

Binary options involve predicting the movements of commodity, asset or index prices over a short time. Although they may be a legitimate financial product with many licenced firms trading in them, binary options are speculative, high risk products that are almost impossible to predict, even for professionals. There are groups of scammers who use binary options to steal your money.

These scammers use high-pressure sales tactics to try and convince you to invest in a trading account, making claims that the system is simple and high profits are guaranteed. If you agree, they direct you to a website with a login, account details and the trading platform. They put your money into the account and demonstrate a number of successful trades to encourage you to invest greater sums of money.

Once invested in the scheme, victims have reported that their money begins to disappear quickly. When they try to withdraw from the scheme, they find it impossible to get their money out of the account. The scammer does everything they can to keep the victim in the program but inevitably they stop taking the victim’s calls and, after a short period of time, it is common for the firms to disappear.

If you receive a phone call or see an online ad offering binary trading be very cautious. Do your research on the offer and the company. Do not agree to anything straight away.

How these scams work

• You receive a call out of the blue offering a secure investment with fast, high returns. You might also come across these scammers through social media or online ads.

• The scammers have professional looking websites to help them appear legitimate, usually with a login process, personalised account details and a trading platform.

• The victim invests money into the account and either the victim or an agent attempts to guess whether a particular commodity price will go up or down over short intervals.

• If you guess correctly, the account is credited with a small return. If you guess incorrectly, you lose the entire amount placed. The odds are stacked against you so it is very likely that you will lose over time.

• When you attempt to withdraw money, you find it almost impossible to do so and often lose the entire investment.

• Binary option scammers will also ask for personal information, claiming they need it to transfer money or that it is required for anti-money laundering purposes. Providing this information can leave you open to identity theft.

Protect yourself

• Consider any approach for investment offers carefully, especially if they are over the phone. Be suspicious of investment opportunities that promise a high return with little or no risk.

• Check ASIC’s list of companies you should not deal with. If the company that called you is on the list – do not deal with them. However, if they do not appear on the list it does not mean they are legitimate.

• Check ASIC’s professional registers to make sure the provider has an Australian Financial Services (AFS) License or is authorised by an AFS Licensee.

• Do not let anyone pressure you into making decisions about money or investments – get independent legal or financial advice.

• Carefully consider who you are giving personal information to, such as details from your passport or bank account, as this could be later used for identity theft.

• If you are looking to invest your best bet is to just say no and look for a safer, less risky investment.

(Source:  NHW Queensland Blog article posted 18 Sep 2016)

Missing Woman - Chermside West

Police are appealing for public assistance to help locate a woman missing from Chermside West.

Lara Scholz (pictured), 45-years-old, was last seen at a Birra Avenue address around 11pm on Saturday, September 17.

She is described as Caucasian in appearance with a solid build, around 165cm tall, with black hair, olive skin and blue eyes.

She was last seen wearing a black blouse and loose black pants and maybe travelling in a red 2014 Holden Barina with Queensland registration 777-VJM.

Police and family are concerned for her welfare as she has a medical condition.

Anyone who may have seen her is urged to contact police.

Anyone with information which could assist with this matter should contact Crime Stoppers anonymously via 1800 333 000 or crimestoppers.com.au 24hrs a day.




Crime Stoppers is a registered charity and community volunteer organisation working in partnership with the Queensland Police Service.

For all non-urgent police reporting or general police inquiries contact Policelink on 131 444 or Policelink.qld.gov.au 24hrs a day.

(Source: myPolice Queensland Police News)

Warning about hoax SMS messages that appear to be from your bank

The Australian Government Stay Smart Online Alert Service recently issued the below warning. While it refers specifically  to hoax SMS messages addressed to ANZ Bank customers, it is possible that the same type of hoax will be directed at customers of other financial institutions so everyone should be alert.

ANZ Bank warns of hoax SMS that attempts to scam customers: Alert Priority High
The ANZ Bank has issued a warning about a fake SMS message that urges customers to click on a link to stop the bank suspending their accounts.

The bank advised on social media that anyone who received the text should delete it immediately, and asked people who viewed its warning to share it with their family and friends.

On its security alerts and reporting fraud page, the ANZ Bank advises customers who have received hoax messages and clicked on any links, downloaded any attachments or responded to these messages with their banking details, to contact the ANZ helpdesk ‘immediately’.

The bank also extends the advice to customers that have noticed any unusual payments.

Clicking on a link in an unsolicited SMS message may expose a customer to malicious software such as viruses. This malware may capture your bank account details or other sensitive personal information, hand control of your smartphone to a remote attacker, or perform other unwanted activities.

Stay Smart Online recommends that if you are unsure whether an SMS message is legitimate, you verify the authenticity of the message with the organisation the message purports to be from. Always use contact details sourced from the business or government organisation’s legitimate website rather than any details included in the message itself.

If you do click on any suspicious links, immediately advise the relevant business and government organisation and monitor your accounts for unusual activity. If you believe your phone may be infected, you may choose to seek assistance from an independent technical expert.

Reporting cybercrimes
If your smartphone has been compromised, you can report the incident to the Australian Cybercrime Online Reporting Network (ACORN).

ACORN provides information on how to recognise and avoid common forms of cybercrime, such as hacking, online scams, online fraud, identity theft, attacks on computer systems and illegal or prohibited content, as well as offering advice to those who have fallen victim.

ACORN makes it easier and more convenient to report cybercrime to a law enforcement agency.

 (Source: Neighbourhood Watch Queensland blog)

Is your smartphone or tablet vulnerable to a virus attack?

Did you know that it is not only desktop computers that can be attacked by viruses?

Smartphones and tablets are also vulnerable, and the Australian Government Stay Smart Online Alert Service has recently issued two warnings in relation to such devices.

Both alerts have High Priority so if you have a relevant device it would be wise to explore further and take appropriate action if necessary.

The alerts are:

iOS update issued to address vulnerability: Alert Priority High

Apple has released a security update for the iOS mobile operating system that runs on devices such as iPhones, iPads and the iPod touch. The update addresses a vulnerability that, according to US-CERT, ‘may allow a remote attacker to take control of an affected system’.

Apple has made the update available for iPhone 4s and later, iPad 2 and later and iPod touch (5th generation and later). You are advised to review the Apple advisory here (https://support.apple.com/en-us/HT207026) and apply the update as required.

Updates close vulnerabilities in computer systems that remote attackers can otherwise use to gain access to systems or information (such as online banking details). A vulnerability is a weakness that can leave a computer and its systems open to attack. Attacks can be carried out a number of ways, including through malicious software (malware) such as viruses and spyware that can monitor a users’ activity on a computer and stop systems operating properly.

Around 10 million Australian Android devices affected by Quadrooter: Alert Priority High

New vulnerabilities have reportedly been uncovered that may affect up to 10 million smartphones and tablets in Australia. The vulnerabilities are believed to potentially allow attackers to take control of devices running the popular Android mobile operating system.

According to news reports, because the ‘Quadrooter’ vulnerabilities reportedly exist in software drivers for chipsets commonly used in Android devices, users need to rely on updates being provided by distributors or telecommunications companies. These businesses need first to receive the updates from Qualcomm, the vendor whose chipsets are reportedly affected by the vulnerability.

Security researchers claim that attackers could use a malicious application to infiltrate an unprotected Android device and gain access to sensitive information without a user knowing.

According to the researchers, the list of affected manufacturers includes the most popular smartphones in Australia, including devices from:

• Google

• Samsung

• Sony

• LG

The reports reinforce the importance of applying software updates as they become available, and avoiding downloading and installing suspicious apps.

You are advised to ensure that your Android device is set to automatically receive security updates, and to ensure the latest updates have been applied. In the case of Quadrooter, you may check with your telecommunications provider as to the availability of a security update for your smartphone, tablet or similar device. Stay Smart Online also advises that you only install trusted apps from official app stores, especially on devices that carry any personal information.

Smartphones and tablets are portable computers, and should be treated as such. This includes installing antivirus software and being careful when running apps or opening files from untrusted sources.

If you wish to visit Stay Smart Online it can be found at www.staysmartonline.gov.au and you can subscribe to receive alerts as they are issued.

(Source: Neighbourhood WatchQueensland Blog post dated 10 August 2016 with some editorial changes)

Thank you to our local businesses

Thank you to these local businesses for supporting our NHW.

Sass Hairapy

Sheer Therapy for your hair

4/78 Basnett Street, Chermside West

Tel: 3359 8254

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Mint Place

Vietnamese Restaurant

Shop 10 / 76 Basnett Street
Chermside West

Open Tues-Friday
11 am to 2 pm and 4 pm to 8.45 pm

Sat 9 am to 2 pm and 
Sat/Sun 4 pm to 8.45 pm 

Ph. 3350 5915

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The Golden Roast

Planning a party… and need catering…??  They will come to you with their mobile Spit Roast Oven. Their chef will prepare and present their GOLDEN ROAST BUFFET. 

All menus online at www.goldenroast.com OR they supply the Spit Roast – you cater the rest.

Phone Narelle 3861 4732

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Loria Deli

Shop 11/72 Basnett Street West Chermside

Ph 3359 6087

Great selection of cheeses, smallgoods and pasta.
Take Home frozen meals
Pizza, sandwiches and more
All day coffee facilities available for your enjoyment

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Glasshaus Constructions Pty Ltd

Developers, builders, importers

Phone 3860 5333

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Leddy’s & Associates Pty Ltd

3/78 Basnett Street, Chermside West

Phone 3359 8333

Fax 3350 5355

ACCOUNTANTS & TAX AGENTS

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Rode Meats

Simply The Best

Brad Cammack

Proprietor

Telephone 3359 7425

Rode Shopping Centre

Appleby Road, Stafford Q 4053

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Photocopying of latest newsletter is by courtesy:

Councillor Fiona King

BCC Councillor for Marchant Ward

Phone 3407 0707 Fax 3407 0797

Email: marchant.ward@bcc.qld.gov.au

Basnett Street Community Open Day Sat 20th August

Basnett Street shops will be hosting a Community Open Day 

Saturday 20th of August 

from 10 am to 4 pm.

• Prizes and Giveaways
• FREE kids art activities
• art demos & art exhibition
• Wine tasting at pARTy ARTworks
• Flower Heart Designs' Florist will be hosting FREE 'Kokedama making demos!
• Exclusive discounts from local businesses
• Taste the cuisine from your local restaurants, specialty cupcakes or local authentic Italian deli selling delicious food and coffee all day!
• much, much more!

Corner of Basnett St and Maundrell Tce Chermside West 

Next Carseldine 6 NHW Update Meeting and AGM - Thu 4 August

The next Carseldine 6 NHW Update meeting will be held on Thursday 4th of August at the Craigslea State School P&C Building at 7.30 pm.

The P&C building is situated at the rear of the school.

This meeting will be our Annual General Meeting when the election of officers for our Area Committee will be conducted.

Anyone interested in filling one of the positions on the Area Committee - please contact the Secretary at carseldine6nhw@gmail.com or just turn up on the night and nominate from the floor.

A representative from Queensland Police will be in attendance to update us on crime prevention in our area and the Queensland scene generally (subject to operational requirements).

This year is the 20th Anniversary of the start of our NHW Group. Our thanks goes to all those volunteers, past and present, who have given their time and efforts in support of this very worthwhile project initiated by the State Government through the Queensland Police Service.

Well done all!!!

Car parking - please use the western car park near the swimming pool. You can then walk through the covered play area to the last building on the left.

Your support of Neighbourhood Watch is of vital importance to the safety and security of our neighbourhood.  Come along, meet your neighbours and share a social word or two.

We hope to see you there. 

All welcome!!!