array(1) { [0]=> &object(stdClass)#6183 (52) { ["id"]=> string(5) "17126" ["title"]=> string(89) "The Olympic effect on property and equity investors; COVID-19 Disaster Payments and super" ["alias"]=> string(88) "the-olympic-effect-on-property-and-equity-investors-covid-19-disaster-payments-and-super" ["introtext"]=> string(261) "

On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss the ongoing NSW lockdown, the ins and outs of the COVID-19 Disaster Payments, and how Brisbane’s successful Olympics bid could impact equities and property.

" ["fulltext"]=> string(1014) "

Steve Waters, director of Right Property Group, chats about the impact of the lockdowns on the property market, what the 2032 Olympics could mean for Brisbane’s market, and whether APRA might need to pull the handbrake to cool house price growth.

RMIT’s senior lecturer of finance, Dr Angel Zhong, delves into how the Olympics and other major events affect stock returns and what the implications are for investors.

And lastly, tax and super guru Timothy Munro talks about the near-record super returns, the COVID-19 Disaster Payments and what they mean for your super.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["catid"]=> string(3) "302" ["created"]=> string(19) "2021-07-27 04:50:28" ["created_by"]=> string(4) "2404" ["created_by_alias"]=> string(0) "" ["state"]=> string(1) "1" ["modified"]=> string(19) "2021-07-27 06:38:13" ["modified_by"]=> string(4) "2404" ["modified_by_name"]=> string(12) "Robyn Tongol" ["publish_up"]=> string(19) "2021-07-27 06:38:13" ["publish_down"]=> string(19) "0000-00-00 00:00:00" ["images"]=> string(240) "{"image_intro":"images\/podcasts\/090321_Angel_Zhong_Steve_Waters_Timothy_Munro.jpg","float_intro":"","image_intro_alt":"","image_intro_caption":"","image_fulltext":"","float_fulltext":"","image_fulltext_alt":"","image_fulltext_caption":""}" ["urls"]=> string(121) "{"urla":false,"urlatext":"","targeta":"","urlb":false,"urlbtext":"","targetb":"","urlc":false,"urlctext":"","targetc":""}" ["attribs"]=> string(855) "{"article_layout":"","show_title":"","link_titles":"","show_tags":"","show_intro":"","info_block_position":"","info_block_show_title":"","show_category":"","link_category":"","show_parent_category":"","link_parent_category":"","show_associations":"","show_author":"","link_author":"","show_create_date":"","show_modify_date":"","show_publish_date":"","show_item_navigation":"","show_icons":"","show_print_icon":"","show_email_icon":"","show_vote":"","show_hits":"","show_noauth":"","urls_position":"","alternative_readmore":"","article_page_title":"","video_url":"","channel_id":"UCLBR-2LtTtui_WiRuEfW3qA","send":"0","test":"0","comments":"1","readingDiff":"3","schema_active":"0","schema_name":"","schema_description":"","schema_thumbnailUrl":"","schema_uploadDate":"","schema_duration":"","schema_contentUrl":"","schema_embedUrl":"","canonical_link":""}" ["metadata"]=> string(68) "{"robots":"","author":"","rights":"","xreference":"","metatitle":""}" ["metakey"]=> string(78) "olympic, effect, property, equity, investors, covid, disaster, payments, super" ["metadesc"]=> string(200) "On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss the ongoing NSW lockdown, the ins and outs of the COVID-19 Disaster Payments, and how Brisbane’s succe" ["access"]=> string(1) "1" ["hits"]=> string(2) "52" ["xreference"]=> string(0) "" ["featured"]=> string(1) "0" ["language"]=> string(1) "*" ["readmore"]=> string(4) "1014" ["ordering"]=> string(1) "0" ["category_title"]=> string(7) "Podcast" ["category_route"]=> string(17) "resources/podcast" ["category_access"]=> string(1) "1" ["category_alias"]=> string(7) "podcast" ["published"]=> string(1) "1" ["parents_published"]=> string(1) "1" ["lft"]=> string(2) "82" ["author"]=> string(12) "Robyn Tongol" ["author_email"]=> string(33) "[email protected]" ["parent_title"]=> string(9) "Resources" ["parent_id"]=> string(3) "300" ["parent_route"]=> string(9) "resources" ["parent_alias"]=> string(9) "resources" ["alternative_readmore"]=> NULL ["layout"]=> NULL ["params"]=> object(Joomla\Registry\Registry)#6185 (3) { ["data":protected]=> object(stdClass)#6181 (95) { ["article_layout"]=> string(14) "momentum:newne" ["show_title"]=> string(1) "1" ["link_titles"]=> string(1) "1" ["show_intro"]=> string(1) "0" ["info_block_position"]=> string(1) "0" ["info_block_show_title"]=> string(1) "1" ["show_category"]=> string(1) "1" ["link_category"]=> string(1) "1" ["show_parent_category"]=> string(1) "0" ["link_parent_category"]=> string(1) "0" ["show_associations"]=> string(1) "0" ["flags"]=> string(1) "1" ["show_author"]=> string(1) "1" ["link_author"]=> string(1) "0" ["show_create_date"]=> string(1) "0" ["show_modify_date"]=> string(1) "1" ["show_publish_date"]=> string(1) "1" ["show_item_navigation"]=> string(1) "1" ["show_vote"]=> string(1) "1" ["show_readmore"]=> string(1) "1" ["show_readmore_title"]=> string(1) "1" ["readmore_limit"]=> string(3) "100" ["show_tags"]=> string(1) "0" ["show_icons"]=> string(1) "1" ["show_print_icon"]=> string(1) "1" ["show_email_icon"]=> string(1) "1" ["show_hits"]=> string(1) "1" ["record_hits"]=> string(1) "1" ["show_noauth"]=> string(1) "0" ["urls_position"]=> string(1) "0" ["captcha"]=> string(0) "" ["show_publishing_options"]=> string(1) "1" ["show_article_options"]=> string(1) "1" ["save_history"]=> string(1) "1" ["history_limit"]=> int(10) ["show_urls_images_frontend"]=> string(1) "0" ["show_urls_images_backend"]=> string(1) "1" ["targeta"]=> int(0) ["targetb"]=> int(0) ["targetc"]=> int(0) ["float_intro"]=> string(4) "left" ["float_fulltext"]=> string(5) "right" ["category_layout"]=> string(14) "momentum:newne" ["show_category_heading_title_text"]=> string(1) "1" ["show_category_title"]=> string(1) "1" ["show_description"]=> string(1) "0" ["show_description_image"]=> string(1) "0" ["maxLevel"]=> string(2) "-1" ["show_empty_categories"]=> string(1) "0" ["show_no_articles"]=> string(1) "1" ["show_subcat_desc"]=> string(1) "1" ["show_cat_num_articles"]=> string(1) "0" ["show_cat_tags"]=> string(1) "1" ["show_base_description"]=> string(1) "1" ["maxLevelcat"]=> string(2) "-1" ["show_empty_categories_cat"]=> string(1) "0" ["show_subcat_desc_cat"]=> string(1) "1" ["show_cat_num_articles_cat"]=> string(1) "1" ["num_leading_articles"]=> string(2) "14" ["num_intro_articles"]=> string(1) "0" ["num_columns"]=> string(1) "0" ["num_links"]=> string(1) "0" ["multi_column_order"]=> string(1) "0" ["show_subcategory_content"]=> string(2) "-1" ["show_pagination_limit"]=> string(1) "0" ["filter_field"]=> string(4) "hide" ["show_headings"]=> string(1) "1" ["list_show_date"]=> string(9) "published" ["date_format"]=> string(0) "" ["list_show_hits"]=> string(1) "0" ["list_show_author"]=> string(1) "1" ["orderby_pri"]=> string(4) "none" ["orderby_sec"]=> string(5) "rdate" ["order_date"]=> string(9) "published" ["show_pagination"]=> string(1) "2" ["show_pagination_results"]=> string(1) "1" ["show_featured"]=> string(4) "show" ["show_feed_link"]=> string(1) "1" ["feed_summary"]=> string(1) "0" ["feed_show_readmore"]=> string(1) "0" ["sef_advanced"]=> int(1) ["sef_ids"]=> int(1) ["custom_fields_enable"]=> string(1) "1" ["show_page_heading"]=> NULL ["layout_type"]=> string(4) "blog" ["menu_text"]=> int(1) ["menu_show"]=> int(1) ["page_title"]=> string(71) "Invest Money - Strategies and Tools for your Investment Goals | nestegg" ["menu-meta_description"]=> string(180) "Let us help you decide how you want to invest your money on. Learn the best strategies in investing and options like cryptocurrency, bonds, mutual funds, property and stock market." ["secure"]=> int(0) ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["page_heading"]=> string(71) "Invest Money - Strategies and Tools for your Investment Goals | nestegg" ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["displayDate"]=> string(19) "2021-07-27 06:38:13" ["slug"]=> string(94) "17126:the-olympic-effect-on-property-and-equity-investors-covid-19-disaster-payments-and-super" ["catslug"]=> string(11) "302:podcast" ["link"]=> string(107) "/resources/podcast/the-olympic-effect-on-property-and-equity-investors-covid-19-disaster-payments-and-super" ["image"]=> string(65) "images/podcasts/090321_Angel_Zhong_Steve_Waters_Timothy_Munro.jpg" ["image_alt"]=> string(0) "" } }

Latest Podcast

The Olympic effect on property and equity investors; COVID-19 Disaster Payments ...

Resources

There is $17.5 billion in lost and unclaimed super across ...

Invest

Scamming tricks to watch out for

By Louise Chan

May 05 2018
Share

Invest

Scamming tricks to watch out for

By Louise Chan
May 05 2018

Scammers employ various strategies and promise great wealth and financial security to investors. Investors often find out too late that they have been scammed.

Scamming tricks to watch out for

By Louise Chan

May 05 2018
Share

Scammers employ various strategies and promise great wealth and financial security to investors. Investors often find out too late that they have been scammed.

Potential victims can stop spruikers in their tracks if they know how to identify signs of a scam.

Here are some common tactics scammers use to trick their victims:

Use emotions
Employ psychological tricks
Attach themselves to reputable institutions
Use high-pressure tactics
Provide fake but well-made promotional materials

Use emotions

Many scammers use their victims’ emotions, such as love and fear, to push them into committing their money for fraudulent products. They may try developing a close relationship with their victim—romantic or otherwise—and use that relationship to convince them to invest.

Emotional blackmail

Spruikers who use emotional blackmail are typically the ones who develop a friendly or romantic relationship with their victim. In the course of this relationship, they use their victim’s attachment to convince them to hand over their money.

They may also join the same organisations where the victim is a member of to gain the victim’s trust, making it easier to persuade them to invest.

In most cases, emotional blackmail is used by spruikers who are personally ‘close’ to the victim and may even be a family member.

Fear

Some scammers use fear by threatening their victims. They may pose as an agent from a government or reputable institution and would threaten their victims with fines, imprisonment or legal action if they do not provide personal information or money.

Sometimes they would also provide contact details of their organisation, but this information only leads to their partners-in-crime to fool the victim. Before investing, It’s best to contact the organisation they are ‘affiliated’ with and confirm the information they provided, as well as the possible scammer’s identity.

Employ psychological tricks

Some scammers use psychological tactics to earn their victim’s trust.

In many cases, the spruikers do favours for their victims and make them feel obliged to return these favours. Sometimes they persistently offer the investment opportunity until the victim finally gives in.

Attach themselves to reputable institutions

Some spruikers pretend to be a part of a reputable institution to earn the victim’s trust and convince them of the legitimacy of their product offering.

They can pose as financial professionals that can help their victim grow their money—only to disappear with it.

Before agreeing to any offer or service, investors can take a look at the Australian Securities and Investments Commission’s (ASIC’s) Moneysmart’s list of companies and individuals that people should be wary of.

Use high-pressure tactics

High-pressure tactics are common in investment seminars, but it may also be done through email, phone or in person.

Scammers persistently contact their victim to offer their fraudulent product, often stating that they only offer it ‘for a limited time’ to pressure the victim to decide right away.

This kind of tactic forces the victim to throw away logic in favour of grabbing the high income-generating opportunity of a lifetime.

The investment offer is usually bad in many cases, but a team of spruikers—especially in the investment property scene—would make the offer seem profitable and insist that the victim doesn’t have the capability to duplicate the opportunity. They would also insist that the victim would be able to save on fees and taxes if their services are used—all while convincing their victim that the offer is for a limited time only.

Potential investors should avoid investment offers from individuals or groups that refuse to let them evaluate the product—if the offer seems too good to be true, it probably is.

Provide fake but well-made promotional materials

Some scammers take the time to create professional-looking brochures and websites to provide skeptical investors. Once the victim takes the bait and invests in their product or company, the spruikers take down these sites and disappear with the invested money.

To determine whether a product with informational materials are real or fake, potential investors should search for other information on the product apart from the ones that the ‘fund manager’ provides. They may even ask licensed professionals or other experienced investors if they have heard of the offered product.

If they don’t let you think, don’t think about it at all

The common denominator among the listed tricks above is that scammers rarely give their victims time to think and evaluate the offered product or circumstance. They also use emotions over logic to pressure their victims into giving in to their proposition.

If any person approaches with an offer and employs a similar tactic, it’s best to hold off on making any decision no matter how much a ‘golden opportunity’ their offer seems to be—or risk becoming the next victim.

This information has been sourced from ASIC and Nest Egg.

Forward this article to a friend. Follow us on Linkedin. Join us on Facebook. Find us on Twitter for the latest updates

Rate the article

About the author

Louise Chan

Louise is a content producer for Momentum Media’s nestegg who likes keeping up-to-date with all the ways people can work towards financial stability in 2019. She also enjoys turning complex information into easy-to-digest, practical tips to help those who want to achieve financial independence.

About the author

Louise Chan

Cryptocurrency

Crypto of the Week: Neo

Considering an investment in “Chinese ethereum”? Here’s what you need to know. ...Read more

Cryptocurrency

‘An inherently right-wing, hyper-capitalistic technology’, dogecoin co-creator slams crypto

The co-creator of one of the world’s most talked-about cryptocurrencies has issued a warning to would-be investors. ...Read more

Cryptocurrency

Ethereum tipped to gain ground on bitcoin ahead of ‘London Fork’

Ethereum looks set to gain ground on its biggest rival. ...Read more

Cryptocurrency

Crypto of the Week: Telcoin

Telcoin has been one of the most talked about altcoins of the last month, following the launch of the Telcoin V3 upgrade. ...Read more

Cryptocurrency

Why you should beware of the gamification of crypto

Critics suggest that the ease with which apps like Binance allow consumers to invest in cryptocurrency might border on predatory. ...Read more

Cryptocurrency

ASIC looks for feedback on crypto ETFs regulation

Australia’s securities regulator is seeking industry feedback as it looks to open the door to crypto-based exchange-traded funds. ...Read more

Cryptocurrency

Why crypto doesn’t just inspire investors, but also fans

The hype around crypto is getting harder and harder to ignore. ...Read more

Cryptocurrency

Crypto of the Week: Algorand

The ALGO coin is making its way onto more and more cryptocurrency exchanges, but many potential investors might be confused about how it fits into the wider cryptocurrency ecosystem. ...Read more