Australian Government Creates Online Investment Hoax

from the now-that'll-teach-ya dept

Since April 1 of last year, the Australian equivalent to the US’s SEC has been running an online scam. They were trying to get people to agree to invest $10,000 to $50,000 in insurance. The site was advertised on several portals and suckered in 233 people who agreed to invest at least $10,000 despite there being no official prospectus. The Australian agency behind the hoax went public with it today to help educate Australians about internet fraud. They said if this had been a real hoax it would have brought in $4 million. That gives me an idea… Anyone for some Techdirt insurance?

Rate this comment as insightful
Rate this comment as funny
You have rated this comment as insightful
You have rated this comment as funny
Flag this comment as abusive/trolling/spam
You have flagged this comment
The first word has already been claimed
The last word has already been claimed
Insightful Lightbulb icon Funny Laughing icon Abusive/trolling/spam Flag icon Insightful badge Lightbulb icon Funny badge Laughing icon Comments icon

Comments on “Australian Government Creates Online Investment Hoax”

Subscribe: RSS Leave a comment

Add Your Comment

Your email address will not be published. Required fields are marked *

Have a Techdirt Account? Sign in now. Want one? Register here

Comment Options:

Make this the or (get credits or sign in to see balance) what's this?

What's this?

Techdirt community members with Techdirt Credits can spotlight a comment as either the "First Word" or "Last Word" on a particular comment thread. Credits can be purchased at the Techdirt Insider Shop »

Follow Techdirt

Techdirt Daily Newsletter

Techdirt Deals
Techdirt Insider Discord
The latest chatter on the Techdirt Insider Discord channel...