A reverse mortgage can help older Australians unlock the wealth in their homes after retirement. But it's important to understand the risks and long-term financial impact.
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A new report from ASIC has found lenders aren’t doing enough to support customers in financial
#hardship
. Ask your lender for help if you're struggling and if you're unhappy with their response, make a complaint.
Read the full report on ASIC’s website:
Released today, our review of 10 major home loan lenders found some ignored
#hardship
notices, effectively abandoning customers who needed their support
Cold callers often use high pressure sales tactics to convince you to buy a product or sign up to a service. Here are our tips on how to spot sales tactics and resist the hard sell.
Some investment scams may not look too risky or ‘too good to be true’. Be alert to scams offering fake ‘safe’ investments such as bonds or fixed term deposits.
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ASIC is warning consumers to be wary after an ASIC review identified some cold calling operators using high-pressure sales tactics and online click-bait advertisements to lure consumers into receiving inappropriate superannuation switching advice
ASIC CEO Warren Day is on ABC Melbourne with
@Raf_Epstein
this morning, talking about how to make complaints about financial products and services, and what to do if you’re not happy with the result of your complaint. Listen live from 10am AEST
Don’t act quickly on investment advice you’ve come across through social media. Take your time to check an investment opportunity is real by getting independent legal or financial advice. Learn more about safe investing from
@MoneySmartTeam
Scammers are posing as financial services companies or banks to offer fake ‘low-risk’ investments, such as bonds or fixed term deposits. Know how to spot the signs of a
#scam
:
ASIC is alerting consumers to new ways scammers are offering fake bond and term deposit
#scams
– increasingly by impersonating legitimate businesses. Be alert to the warning signs
It’s World Password Day! A great time to update & level-up your passwords to passphrases. A strong passphrase is a better barrier against cybercriminals. The 3 key considerations are length, unpredictability & uniqueness. Learn more 👉
Our 2023 Targeting Scams report highlights the impact of targeted and coordinated disruption activities across government, industry, law enforcement and community organisations, leading to lower overall financial losses.
Be wary of cold callers or click bait social media ads trying to sell you a new
#SuperFund
. Do your own research and don’t rush important financial decisions. Read more: