ASIC warns of new e-mail scam

ASIC warns of new e-mail scam

Summary: The Australian Securities and Investments Commission (ASIC) has issued a warning to consumers to be wary of a new e-mail scam that's in circulation that invites users to participate in a "work from home" money transfer scheme.ASIC said the scam offers users a commission to receive money into their bank accounts and transfer it out again, advertising itself as a legitimate money making opportunity.

SHARE:
The Australian Securities and Investments Commission (ASIC) has issued a warning to consumers to be wary of a new e-mail scam that's in circulation that invites users to participate in a "work from home" money transfer scheme.

ASIC said the scam offers users a commission to receive money into their bank accounts and transfer it out again, advertising itself as a legitimate money making opportunity.

Director of consumer communication for ASIC, Dr Michael Dunn, says the scam is similar to the Nigerian letter scam that asks the recipient to take delivery of a sum of money for a commission ranging between 7 to 15 percent.

"The promoters have sometimes dressed up their Web sites with logos from reputable banks (without the banks' permission) to make the dodgy offer appear more credible," he said.

Dr Dunn says the scammers use inventive excuses to trick the recipient into believing the scam is real, however he describes the tall-tales as a little "too good to be true".

"Unless there's something shady, why would someone pay extra fees for transferring money through your account to someone else?" he said.

In an example of one such e-mail received by ASIC, Dr Dunn says the e-mail that claimed to be from Germany said the transfer scheme was designed to "get around a supposed '25 percent tax' on money transfers between Australia and German companies".

According to Dr Dunn, ASIC followed up on the claims and found that no such tax exists, saying the story is most likely a foil to get to consumers' bank account details.

"ASIC suspects the offer of commission is just a bait to lure unsuspecting people into giving their banking details and other identification, as a first step to extracting money for various fees, in a similar way to the better-known 'Nigerian letters' and fake lottery scams," he said.

Dr Dunn advises computer users to delete the e-mail if they should receive it, asking consumers not to "encourage scammers by replying".

Topics: Collaboration, Banking, Security

Kick off your day with ZDNet's daily email newsletter. It's the freshest tech news and opinion, served hot. Get it.

Talkback

3 comments
Log in or register to join the discussion
  • Dodgy Scams

    I dind't know where else to send this, but have received a SCAm relevant to South Australia. It read:
    "South Australia Lotteries,
    23 Rundle Mall, Adelaide,
    South Australia.
    (South Australia Lottories is an affiliate of Overseas Subscriber
    Agents).
    Arena Complex 14 Donegall Square West, United Kingdom.

    From: Ariel Bertis
    e-mail : arielsbertis@universia.edu.ve
    (Lottery Coordinator)

    Sir/adam,

    CONGRATULATIONS!!!

    We are pleased to inform you of the result of the South Australia
    Lotteries Winners International programs held on the 8th, August, 2005.
    Your e-mail address attached to ticket #: 00903228100 with prize #
    778009/2 drew ?1,000,000.00 which was first in the 2nd class of the
    draws.
    you are to receive ?1,000,000.00 (One Million Euros). Because of mix up
    in cash pay-outs, we ask that you keep your winning information
    confidential until your money (?1,000,000.00) has been fully remitted
    to you by our accredited pay-point bank. This measure must be adhere
    to avoid loss of your cash prize - winners of our cash prizes are
    advised to adhere to these instructions to forestall the abuse of this
    program by other participants.
    It's important to note that this draws were conducted formally, and
    winners are selected through an internet ballot system from 60,000
    individual and companies e-mail addresses - the draws are conducted
    around the world through our internet based ballot system. The
    promotion is sponsored and promoted by South Australia lotteries.
    We congratulate you once again. We hope you will use part of it in our
    next draws; the jackpot winning is ?85million.
    Remember, all winning must be claimed not later than 20 days.
    After this date all unclaimed cash prize will be forfeited and included
    in the next sweepstake.
    Please, in order to avoid unnecessary delays and complications remember
    to quote personal and winning numbers in all correspondence with us.

    Congratulations once again from all members of South Australia
    Lotteries. Thank you for being part of our promotional program.

    For immediate release of your cash prize to you, please kindly contact
    our Paying Bank ( Deutsche Bank, Amsterdam.)
    Send them the following:
    (i). Your names, (ii) Contact telephone and fax numbers (iii) Contact
    Address (iv) your winning numbers (v) Quote amount won.

    Contact the paying bank with the following:
    Contact person: Mr. Tom Morris,
    Deutsche Bank, Amsterdam, Netherlands.
    E-mail:custservices@netscape.net
    Tel: 31 621-916-606
    Fax: 31-847-504-579

    Congratulations once again.
    Yours in service,
    Ariel Bertis
    (Lottery director)"
    anonymous
  • THERE WILL BE NO EXTENSION OF DATE

    "Don't be STUPID"

    Mothers asking for money for their children, nothing to eat, etc.
    But they have computers and internet access!
    anonymous
  • South Australia Lottery Scam

    I have just received a email from a different source than the one shown here on you site. The email is as follows:
    Sender: negus negas
    Senders Email: negus_negas@msn.com
    South Australia Lotteries
    23 Rundle Mall, Adelaide
    South Australia.
    South Australia Lottories is an affiliate of Overseas
    Subscriber Agents).
    Arena Complex 14 Donegall Square West, United Kingdom.
    From: Susan Console
    (Lottery Coordinator)

    Sir/Madam,

    CONGRATULATIONS!!!

    We are pleased to inform you of the result of the
    South Australia Lotteries Winners International programs held on the
    3rd October, 2005. Your e-mail address attached to ticket #: 00903228100
    with
    prize # 778009/2 drew ?1,000,000.00 which was first in the 2nd class of the
    draws. You are to receive ?1,000,000.00 (One Million Euros).Because of mix
    up in cash pay-outs, we ask that you keep your winning information
    confidential until your money (?1,000,000.00) has been fully remitted to you
    by our accredited pay-point bank. This measure must be adhere to avoid loss
    of your cash prize - winners of our cash prizes are advised to adhere to
    these instructions to forestall the abuse of this program by other
    participants.
    It's important to note that this draws were conducted
    formally, and winners are selected through an internet ballot system
    from 60,000 individual and companies e-mail addresses - the draws
    are conducted around the world through our internet based ballot
    system. The promotion is sponsored and promoted by South Australia
    lotteries.
    We congratulate you once again. We hope you will use
    part of it in our next draws; the jackpot winning is ?85million.
    Remember, all winning must be claimed not later than
    20 days. After this date all unclaimed cash prize will
    be forfeited and included in the next sweepstake.
    Please, in order to avoid unnecessary delays and
    complications remember to quote personal and winning numbers in all
    correspondence with us.

    Congratulations once again from all members of South
    Australia Lotteries. Thank you for being part of our promotional
    program.

    For immediate release of your cash prize to you,
    please kindly contact our Paying Bank ( Vinsco Finance Bank,
    Amsterdam the Netherlands.)
    Send them the followings, without the followings your winning will not be
    transfer to you.
    (i). Your names, (ii) Contact telephone and fax numbers (iii) Contact
    Address (IV) your winning numbers (v) Quote amount won.

    VINSCO FINANCE AMSTERDAM
    TEL+31 619 044 936
    EMAIL: info_vinscofinance@yahoo.co.uk
    CONTACT PERSON: JAMES GOODMAN

    Congratulations once again.

    Yours in service,
    Susan Console
    anonymous