Whether you’re considering a new bond or an existing one, it’s important to do your research before you invest. You should always check to see if the bond is a scam or not, and whether it’s insured by the FSCS. This is especially important if you’re a first time buyer. It’s also important to ensure that you’re not overpaying for the bond.
Investing in bonds has become a popular choice for Australians, but these are not without risk. Scammers are using popular savings products and high returns to con unsuspecting Australians. These scams can cost Australians millions of dollars, so be wary of any investment opportunity that sounds too good to be true.
The most recent imposter bond scams target people searching for investment opportunities on the Internet. Scammers claim to offer government bonds and fixed term deposits, but are actually impersonating legitimate financial institutions. They are using fake contact details and third-party comparison sites to lure potential victims into making rash decisions.
The best way to avoid imposter bond scams is to do your own research on the financial institution issuing the bond. The Australian Securities and Investments Commission (ASIC) has issued an update on this scam, and urged Australians to be sceptical.
Despite the fact that CUSIPs have been standard since the 1960s, a number of complaints have surfaced about the system over the years. Specifically, investors allege that the system’s owners are trying to use the CUSIPs as a way to control the financial information of investors. This monopolization has caused investors to seek damages.
The Committee on Uniform Securities Identification Procedures (CUSIP) was created in the early 1960s to develop a uniform system for identifying securities. It was initially a physical book, but has since evolved into a computerized system. The first six characters identify the issuer of a security and the last two digits identify the type of security. Currently, there are nine characters.
CUSIP numbers are used to identify securities, including stocks, mutual funds, bonds, and corporate debt. They are used by financial firms to facilitate trades and settlements. They are publicly available and can be found on official statements.
Advertisement in newspapers or magazines
Despite being a relative of obscurity, the advertisement in the newspaper has been around in one form or another for centuries. Whether it’s the local tabloid or the tablified national newspaper, you’ll find a handful of twerps churning out the voodoo cure. Some of the best marketers are in it for the long haul. They have a knack for the trifecta, the aforementioned trifecta equidipets and they are well disposed to the bargain bin. Some even take to the skies with their ills. The aforementioned trifecta might well be the most likely recipients of your nascent business. The trifecta is the feisty, the feisty feisty and the feisty feisty.
FSCS is a free financial services regulator that protects consumers’ savings. If a financial firm goes bust, FSCS will reimburse the consumers for their losses. It was introduced under the Financial Services and Markets Act 2000. It is funded by the financial services industry.
FSCS can only protect cash held in authorised banks or building societies. However, the FCA has also warned against scams that impersonate the FSCS. These include fake decision letters which use fictitious company names and sloppy formatting.
The FSCS has also warned against scams using social media. Scammers will use spoofed phone numbers and emails to contact consumers and claim compensation for non-existent losses. They also use fake links. They may ask you for money to unlock the compensation.