As one of life’s most valuable investments, superannuation funds are frequently targeted by unscrupulous fraudsters. In addition to the large amounts of money held, advancements in technology have enabled these scammers to steal not only hard-earned savings but victims’ identities, too.
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Superannuation Fund Scam Investigation
The consequences of such superannuation scams are often devastating. If you suspect that you have been targeted by a super fund scam, please take immediate action by contacting our renowned investigators. We will uncover actionable evidence to help you prosecute the culprit behind the crime and recover your retirement savings.
We tackle all superannuation scam investigations with proactive and personalised tactics that evolve with every breakthrough. Our investigators leverage invaluable access to local databases, expert witnesses in super fraud, and a network of confidential informants. GRB investigators utilise exclusive partnerships with federal and international law enforcement agencies across the globe. We can also collaborate with local and foreign correspondent lawyers to uncover money trails and hidden assets in almost any country.
The most common superannuation scams
Superannuation identity theft
Identity theft super scams revolve around extracting personal information from the victim. Whether through email, social media, phone calls or physical mailboxes, scammers steal your identity with the ultimate aim of accessing your superannuation fund and the savings within it.
To do this, the scammer may impersonate a reputable financial organisation, such as a bank or super fund, and request your personal or super account details via a link. If you click on this, they may be able to gain access to your computer, log-ins and other sensitive information.
Imposter financial advisors
Some scammers pose as financial advisors or superannuation specialists to swindle targets out of a percentage or all of their retirement savings.
Despite claiming to hold all of the required credentials, they do not have a legitimate licence and instead, funnel funds into their own account behind the victim’s back.
Superannuation investment fraud
This scam targets self-managed super funds (SMSF) holders. Fraudsters convince victims to invest in illegitimate or illegal initiatives or industries by moving their super balance from a regulated sector or retail fund into an SMSF on the grounds that they can earn high returns of approximately 20% or more each year.
Cold call superannuation scams
Some scammers might call you out of nowhere on your home or mobile phone, starting the conversation with a summary of investment performance before explaining strategies to improve returns.
You may be asked to provide personal details like your email address so that they can send important information. Moreover, they could even request that you transfer your money to another super fund.
Do not pick up any phone calls from an unknown number, and if you have answered, then hang up immediately. Do not disclose your personal details or transfer any funds.
