Business Services Industry

New twist on cold-calling scam.

Australasian Business Intelligence, May, 2006

May 11, 2006 (Choice - ABIX via COMTEX) -- The Australian Competition & Consumer Commission (ACCC) has warned consumers about a new type of "scam". The latest one involves people who hold shares in overseas companies that suffered as a result of the "dotcom" bubble bursting. The potential fraudsters are ringing up people they have found to be owning these now worthless shares and are offering to buy them off them. However, the catch is that they demand a large up-front fee, claiming they need the money to remove various restrictions on the shares. People receiving such a call should ideally hang up straight away. At the minimum, they should ask for any offer for their shares to be made in writing.

Publication Date: May 2006

AUSTRALIAN COMPETITION...

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