Weekly Dose of Common Sense
Taxes Taking Their Toll
I just enjoyed a lovely function as a guest of the Australian Hotels Association. As a past publican, there'
Confidential Daily Comment
Avoiding Financial Scams
With the plethora of financial scams out there, some prudence will protect you from the most common ones.
3 min read
The Australian Competition and Consumer Commission (ACCC) reported that Australians have lost over $88 million to investment scams this year.
The true number is likely to be much higher as many people who are fleeced are too ashamed to admit they were taken for a ride.
As such, they cop the loss and don't notify the authorities.
This was brought home to me recently after receiving a phone call from a friend asking if I knew anything about a particular investment.
After telling him I am not licensed to give investment advice, I did suggest a few simple questions he might like to ask about the 'can't miss' opportunity before him.
These are pretty staple inquiries that can help one eliminate a majority of the scams out there.
They include:
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