Australian victim of fraud syndicate advertising on Facebook on mission to stop others being burned

  • 📰 abcnews
  • ⏱ Reading Time:
  • 69 sec. here
  • 12 min. at publisher
  • 📊 Quality Score:
  • News: 62%
  • Publisher: 83%

Facebook News

Investment,Trading,Investment Fraud

Australians are losing millions to international fraud syndicates posting fake ads on social media. One woman who lost more than $100,000 after being 'brainwashed' is determined to stop it from happening to others.

Over months of daily calls, fake balance sheets and racing to the ATM in a panic, Deb lost her superannuation and savings to scammers.ads featuring Australian celebrities, public figures and politicians spruiking an investment opportunity.But instead of "sitting at home crying about it" she's on a mission to make sure others don't "get burned".

IFW Global chief investigator Mark Solomons told a federal cybercrime parliamentary inquiry Australia was among a handful of countries the syndicates relied on for growth. IFW Global says the multi-layered, multi-billion-dollar scamming networks use call centres with hundreds of workers in various locations around the world.Daniel taught Deb how to use a platform called Capital B and provided tips on investment trading."He just shows you and tells you how to do it."But once she was convinced to upgrade to the $25,000 Silver Plan, that's when "the scam really started", Deb said.

Deb had already lodged reports with the AFP, the Australian Cyber Securities Centre and even Action Fraud Police UK.Mr Solomons has accused ASIC of not doing enough to tackle international cybercrime, saying it has "focused almost entirely on local offenders". But the government is proposing a raft of changes in a new mandatory code of practice for social media companies which aims to make them more accountable.Deb has welcomed the recent comments from the government, but worries too many more vulnerable people will get swindled while authorities chase their tails.Deb says she'll continue to raise awareness of the problem and she wants other victims to speak out, come together for a class action and "get angry".

Investment Trading Investment Fraud Fraud Syndicate Scam Scammers Social Media Celebrity Ads Deepfake

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in AU

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

New complaint alleges Meta is misleading Australians over its disinformation and misinformation controls on FacebookPosts that have been fact-checked and proven false are slipping through Meta's net, a new report alleges. And the tech giant could be in breach of their code of conduct.
Source: abcnews - 🏆 5. / 83 Read more »

One in Three Australians Fear Extreme Weather Will Force Them to Leave Their HomesOne-third of Australians are concerned they will be forced to leave their homes, as natural disasters affect more and more people across the country. A Climate Council survey reveals the impact of extreme weather-related disasters on Australians.
Source: SBSNews - 🏆 3. / 89 Read more »

Australian Grand Prix 2024: Potential and pressure for Australian F1 drivers in MelbourneOscar Piastri will join Daniel Ricciardo on the Melbourne grid this year, marking the first time since 2013 that two Australians have raced in the same grand prix.
Source: FinancialReview - 🏆 2. / 90 Read more »

Formula 1 Australian Grand Prix | Australian Financial ReviewThe latest Formula 1 Australian Grand Prix news, articles and analysis from the Australian Financial Review
Source: FinancialReview - 🏆 2. / 90 Read more »

Formula 1 Australian Grand Prix | Australian Financial ReviewThe latest Formula 1 Australian Grand Prix news, articles and analysis from the Australian Financial Review
Source: FinancialReview - 🏆 2. / 90 Read more »

Matt Denny Sets New Australian Discus Record at Australian Athletics ChampionshipsMatt Denny sets a new national discus record at the Australian Athletics Championships, solidifying his chances of winning an Olympic medal.
Source: abcnews - 🏆 5. / 83 Read more »