Scammers (aka thieves)

We need to be constantly aware of thieves using various technologies to attempt to scam us. Virtually all of us have received texts or emails from these people, aimed at extracting personal information and/or money from us. Any communication that looks even remotely suspect probably is suspect.

We would like to give you a recent case study, involving one of our clients. We were contacted by an investment fund manager that one of our clients had requested a substantial withdrawal from their account. The Fund Manager had contacted the client by email and phone to get a personal verification, and the bank account information to which the money was to go was recorded in the fund’s records as the investors account. All seemed ok.

However, we at Axios knew several things:

We rang the client directly. He was shocked at what had occurred and denied requesting the withdrawal! We asked the Fund Manager to check their records and they advised us of the following:

  1. The client’s email address had been changed online several months ago
  2. The client’s mobile phone details were changed online weeks ago
  3. The client’s bank account details were changed online 2 weeks ago

So, the transaction was stopped.

We need to be more vigilant on security. And we need to put up with more and more security checks (just like we do at airports) on financial transactions.


Axios Financial Solutions are a team of respected and highly regarded financial planners with offices on St Kilda Rd Melbourne.  Axios helps their clients meet their desired outcomes by providing tailored financial services, strategies, advice and solutions.  You can contact them at info@axios.com.au or (03) 9869 5555.

Axios Financial Solutions Pty Ltd (ACN 007 299 014), is an Authorised Representative of Charter Financial Planning Ltd, Australian Financial Services Licensee 234665

Please note that the information in this article is of a general nature only and has not taken into consideration your individual circumstances. Should you wish to discuss your personal circumstances please call us on 03 9869 5555 or email info@axios.com.au.

Level 3 The Metropolis
480 St Kilda Road
Melbourne Vic 3004