Australian Politics Forum - Super scammers stole all his super.

UnSubRocky Gold Member Offline Crocodile Hunter: Origins Posts: 24512 Rockhampton Gender:	Re: Super scammers stole all his super. Reply #15 - Jun 27^th, 2024 at 6:09pm Bobby. wrote on Jun 27^th, 2024 at 6:08pm: John Smith wrote on Jun 27^th, 2024 at 5:54pm: Lee never struck me as being the sharpest tool in the shed Lee hasn't posted on this thread. Yeah, I was trying to figure out what the hell he was involving lee on this topic.
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Bias_2012

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Re: Super scammers stole all his super.
Reply #16 - Jun 27^th, 2024 at 6:30pm

John Smith wrote on Jun 27^th, 2024 at 5:54pm:

Lee never struck me as being the sharpest tool in the shed Roll Eyes

None of the suckers are, that's why they get scammed

I gave up on Super, I still had it, but I started partial wage sacrifice depositing it in the bank and it got to a stage where it out-performed my super because there was no fees or any other funny money, nor fluctuating stock losses. I couldn't believe how much money I was getting, even after tax. Every time I looked at my Super, it was hardly doing a thing, it wasn't worth it, too many with their fingers in the pie

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Bobby.

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Re: Super scammers stole all his super.
Reply #17 - Jun 27^th, 2024 at 6:42pm

Bias_2012 wrote on Jun 27^th, 2024 at 6:30pm:

John Smith wrote on Jun 27^th, 2024 at 5:54pm:

Lee never struck me as being the sharpest tool in the shed Roll Eyes

None of the suckers are, that's why they get scammed

I gave up on Super, I still had it, but I started partial wage sacrifice depositing it in the bank and it got to a stage where it out-performed my super because there was no fees or any other funny money, nor fluctuating stock losses. I couldn't believe how much money I was getting, even after tax. Every time I looked at my Super, it was hardly doing a thing, it wasn't worth it, too many with their fingers in the pie

Just don't let anyone scan your passport -

that's all they need to steal all your super.

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John Smith Gold Member Offline Australian Politics Posts: 74183 Gender:	Re: Super scammers stole all his super. Reply #18 - Jun 27^th, 2024 at 8:06pm Bobby. wrote on Jun 27^th, 2024 at 6:08pm: John Smith wrote on Jun 27^th, 2024 at 5:54pm: Lee never struck me as being the sharpest tool in the shed Lee hasn't posted on this thread. Lucky you're here to state the obvious ehhh idiot
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Sophia

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Re: Super scammers stole all his super.
Reply #19 - Jun 27^th, 2024 at 8:28pm

Bobby. wrote on Jun 27^th, 2024 at 5:51pm:

Sir lastnail wrote on Jun 27^th, 2024 at 5:09pm:

Bobby. wrote on Jun 27^th, 2024 at 5:03pm:

Sir lastnail wrote on Jun 27^th, 2024 at 4:57pm:

But 30 billion a year is legally stolen in fees Sad

yep - legalised scamming too.

They make you fear your old age and retirement so they can profit from you
by stealing from you so you will have less which is the very thing they make you fear Sad

Wherever there's a big pot of money you
can be sure the Govt is there taking some of it.

On TV news tonight - probate fees going up for Wills.

https://vic.liberal.org.au/media-releases/2024-06-27-allan-labor-governments-sec...

Victorians are set to be taxed beyond the grave by the Allan Labor Government
with a new form of death duties to be imposed under the guise of massive increases to probate fees.

While probate fees were previously set at a flat rate and capped
for estates valued at $5 million or more at a fee of $2,318.90,
Victorian families will now have to pay a probate fee based
on a sliding scale up to $15,407.40; an increase of 564.4 per cent.

I saw that on tonight’s report!
Cashing in on deaths… big hand in the cookie jar urn.
Victorian govt. is so broke…. they want part of the estates!

And then…. that hypocrisy…with all this EOFY and up goes the inflation … rates are going to follow and also… real estate tipped to go up 5% all over Oz.
Honestly… I’m certain I recalled they said that by end 2024 interest rates were likely to go down.

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Bobby.

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Re: Super scammers stole all his super.
Reply #20 - Jun 27^th, 2024 at 8:33pm

Sophia wrote on Jun 27^th, 2024 at 8:28pm:

I saw that on tonight’s report!
Cashing in on deaths… big hand in the cookie jar urn.
Victorian govt. is so broke…. they want part of the estates!

And then…. that hypocrisy…with all this EOFY and up goes the inflation … rates are going to follow and also… real estate tipped to go up 5% all over Oz.
Honestly… I’m certain I recalled they said that by end 2024 interest rates were likely to go down.

Dirty Dan sent Victoria broke so now the Govt. dreams up new taxes every day -
just to pay the interest bill.

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Sprintcyclist

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Re: Super scammers stole all his super.
Reply #21 - Jun 27^th, 2024 at 8:37pm

Bobby. wrote on Jun 27^th, 2024 at 2:04pm:

https://www.abc.net.au/news/2024-06-27/superannuation-scam-hostplus-fraud-afca-c...

Super scammers defrauded Lee of his retirement savings.
Industry experts are calling for better protections

https://www.hotelmanagement.com.au/wp-content/uploads/2018/12/Intrust-Super_AYS_...

By national consumer affairs reporter Michael Atkin

updated 4h ago

He wanted to invest $10,000 first to see how it performed.

But scammers used the documents he'd provided to fraudulently take the lot.
One phone call could have stopped it

Lee was awarded 30 per cent of what he lost, about $54,000,
leaving him worse off after paying legal fees.

In short:

Lee Braz's entire super, $180,000

,
was stolen by scammers who used fraudulent documents to trick his fund.
He launched a four-year legal battle to get a refund from his super fund, but only got back a third, which didn't cover his legal fees.
What's next? Industry experts want the federal government to urgently increase security obligations, such as multi-factor authentication and checks on who owns a bank account when rolling over a member's super.

Lee Braz was well into his 50s and knew he had to sort out his super.

Then he received a call from a Sydney company promising to help him do just that.

But the call was the start of a nightmare that would see Lee's entire super balance, about $180,000, stolen.

Before going ahead, Lee checked the company's website and saw it was properly registered in Australia.

In sales documents it claimed to have impressive returns using money from self-managed super funds to invest in tech and finance giants like Google and Visa.

Lee sent over his passport to open an account. He wanted to invest $10,000 first to see how it performed.

But scammers used the documents he'd provided to fraudulently take the lot.

Ahah - I wondered where the problem happened.
These are the magic words - ' ......... he received a call from a Sydney company promising to help him ....... '

If they contact you. Ignore them.
You should contact them.

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Bobby.

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Re: Super scammers stole all his super.
Reply #22 - Jun 27^th, 2024 at 8:56pm

Sprintcyclist wrote on Jun 27^th, 2024 at 8:37pm:

Ahah - I wondered where the problem happened.
These are the magic words - ' ......... he received a call from a Sydney company promising to help him ....... '

If they contact you. Ignore them.
You should contact them.

I have blocked dozens of phone numbers on my mobile from unsolicited calls.

I stopped asking them if they were making an unsolicited call
as none of them ever knew what that was -
or claimed not to know.

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Super Nova

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Re: Super scammers stole all his super.
Reply #23 - Jun 27^th, 2024 at 10:51pm

Sprintcyclist wrote on Jun 27^th, 2024 at 8:37pm:

Ahah - I wondered where the problem happened.
These are the magic words - ' ......... he received a call from a Sydney company promising to help him ....... '

If they contact you. Ignore them.
You should contact them.

Sprint nailed it. Was going to post the same.

Never and I mean never engage with anyone with regards to money if you receive an unsolicited call.
If the bank rings me, I ring them back and they understand that.

Now as to a copy of your passport. I have to scan and send my passport copy often.

I feel he must have given more information than this.

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Bobby.

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Re: Super scammers stole all his super.
Reply #24 - Jun 27^th, 2024 at 10:56pm

Super Nova wrote on Jun 27^th, 2024 at 10:51pm:

Sprintcyclist wrote on Jun 27^th, 2024 at 8:37pm:

Ahah - I wondered where the problem happened.
These are the magic words - ' ......... he received a call from a Sydney company promising to help him ....... '

If they contact you. Ignore them.
You should contact them.

Sprint nailed it. Was going to post the same.

Never and I mean never engage with anyone with regards to money if you receive an unsolicited call.
If the bank rings me, I ring them back and they understand that.

Now as to a copy of your passport. I have to scan and send my passport copy often.

I feel he must have given more information than this.

"I have to scan and send my passport copy often."

According to this thread you're taking a big risk with your super.

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