Business
Beware bogus ‘COVID’ bonds: ASIC warns on new scams costing millions – Sydney Morning Herald
COVID-19 vaccine producers Pfizer and GlaxoSmithKline have been used by the scammers as has industry superannuation investment giant Industry Funds Management.
ASIC estimates millions have already been lost by retail investors in Australia. It also warns that there may be little the regulator can do to help investors recoup their lost investments.
ASIC acting chairwoman Karen Chester urged investors to be wary of claims that are too good to be true.
Interest rates globally are currently extremely low, and expected to remain so for some time. If you see or receive offers of high-yield bonds, they are either high-risk or they may simply be bogus and a scam,…
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