TL;DR: On 28 September 2026 Scamwatch issued an alert saying investment scams no longer always start with an obvious sales pitch. Scammers now build WhatsApp groups around shared interests, introduce a fake investment 'professor', publish fake news articles and rely on referrals from friends and family. Scamwatch's advice is to verify any adviser's Australian financial services licence independently.
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What Scamwatch reported
In an alert published on 28 September 2026, Scamwatch said investment scams can be subtle and do not always begin with a hard sell. It described scammers creating WhatsApp groups built around interests such as fishing or sports, then introducing a so-called professor or investment expert who promotes a fraudulent trading platform backed by fabricated testimonials and returns.
Scamwatch also described schemes that spread through friends and family and can work as Ponzi structures, where early investors are paid from the deposits of newer participants. In another variation, scammers impersonate media outlets such as Reuters and publish fake articles carrying false celebrity endorsements or claims that a platform has official partnerships or safety approvals.
Warning signs listed by Scamwatch
- Pressure to act quickly.
- An unsolicited group invitation that leads to investing.
- Promises of high, guaranteed or unusually consistent returns.
- Commission offered for recruiting other people.
- Requests for extra fees before you can withdraw your money.
How to protect yourself
Scamwatch frames its advice as Stop, Check, Protect. Do not rush a decision. Check that any adviser holds an Australian financial services licence, and confirm their contact details through a source you found yourself rather than one supplied in the chat. If you suspect a scam, tell your bank straight away.
A consistent profit shown on a screen proves nothing, because the platform controls the numbers. Our guides on investment and trading app scam recovery and a real Australian investment scam story show how these schemes unfold, and realistic expectations for crypto scam recovery explains what recovery realistically looks like.
Why group chats make this scam work
A group chat gives a scheme social proof. When other members post screenshots of profits and thank the 'professor', doubt feels out of place, and some of those members may be part of the operation or simply early participants who have been paid from later deposits. Because the pitch builds slowly, there is no single moment that feels like a sales call.
A useful habit is to ask what you would do if the same offer came from a stranger on the street. If you would not hand over money to that person, a group invitation does not change the risk. Take the time to look up the platform yourself, search for its name alongside the word scam, and talk to someone outside the group before you deposit anything. Pressure to decide today is itself a warning sign.
Where to report
Report the scheme to Scamwatch, and contact your bank immediately if you have sent money. Our walkthrough on how to report a scam to Scamwatch explains what to include in a report.
Frequently Asked Questions
What did Scamwatch warn about on 28 September 2026?
That investment scams can be subtle, spreading through WhatsApp groups built around shared interests, fake news articles that impersonate outlets such as Reuters, and referrals from friends and family.
What are the warning signs of these investment scams?
Pressure to act quickly, unsolicited group invitations leading to investing, high or guaranteed returns, commission for recruiting others, and requests for extra fees to withdraw funds.
How do I check an investment adviser?
Scamwatch advises confirming that the adviser holds an Australian financial services licence and verifying their contact details independently.
Where do I report an investment scam in Australia?
Report it to Scamwatch and tell your bank straight away if you have sent money.