Don’t lose your retirement savings to superannuation fraud.

As one of life’s most valuable investments, superannuation funds are frequently targeted by unscrupulous fraudsters. In addition to the large amounts of money held, advancements in technology have enabled these scammers to steal not only hard-earned savings but victims’ identities, too. 

The consequences of such superannuation scams are often devastating. If you suspect that you have been targeted by a super fund scam, please take immediate action by contacting our renowned investigators. We will uncover actionable evidence to help you prosecute the culprit behind the crime and recover your retirement savings.

Types of super fund scam to watch out for

Superannuation identity theft

Identity theft super scams revolve around extracting personal information from the victim. Whether through email, social media, phone calls or physical mailboxes, scammers steal your identity with the ultimate aim of accessing your superannuation fund and the savings within it. 

To do this, the scammer may impersonate a reputable financial organisation, such as a bank or super fund, and request your personal or super account details via a link. If you click on this, they may be able to gain access to your computer, log-ins and other sensitive information.

For example, some scammers have been masquerading as the AustralianSuper brand, such as through fraudulent Facebook pages, SMS, emails and websites that feature the organisation’s logo. Promising strong returns on cryptocurrency investments, they dupe victims into thinking they are interacting with the legitimate super fund. 

Importantly, the real AustralianSuper will never request you to confirm or change personal or banking details via an email or text message link.

Imposter financial advisors

Some scammers pose as financial advisors or superannuation specialists to swindle targets out of a percentage or all of their retirement savings. 

Despite claiming to hold all of the required credentials, they do not have a legitimate licence and instead, funnel funds into their own account behind the victim’s back. 

Superannuation investment fraud

This scam targets self-managed super funds (SMSF) holders. Fraudsters convince victims to invest in illegitimate or illegal initiatives or industries by moving their super balance from a regulated sector or retail fund into an SMSF on the grounds that they can earn high returns of approximately 20% or more each year.

To appear legitimate, fraudsters often adopt business names, contact details and websites that are similar to genuine Australian companies with Australian financial services licences. They may even ensure SMSF is correctly established and compliant with Australian legislation.

Once the victim is lured in, the scammer will access the full amount or take a percentage of it as a ‘fee’ for their services, transferring the money from the victim’s existing super fund – with or without their consent. 

Unlike other forms of super fraud, this type of scam tends to target large groups as opposed to individuals. This is often orchestrated through bogus seminars, ‘special’ offers or false advertisements. 

Early access super fund scams

These calculated scammers promise ‘proven’ ways to access your superannuation early. Victims are lured in by the claim that this early withdrawal will provide greater flexibility to repay debts or facilitate other expenditures. 

In reality, you are only permitted to access your superannuation if you satisfy a condition of release. If you are approached and advised that you can access your superannuation ahead of your preservation age, it is likely a scam attempting to steal your personal information and life savings.

Cold call superannuation scams

Some scammers might call you out of nowhere on your home or mobile phone, starting the conversation with a summary of investment performance before explaining strategies to improve returns. 

You may be asked to provide personal details like your email address so that they can send important information. Moreover, they could even request that you transfer your money to another super fund. 

Do not pick up any phone calls from an unknown number, and if you have answered, then hang up immediately. Do not disclose your personal details or transfer any funds.

Phishing superannuation scams

Phishing is another common type of superannuation scam. These emails appear to be from trusted super funds, alerting victims that their password expires soon and must be updated or renewed by clicking on a link.

If you have opened an unexpected email of this kind, please avoid clicking on any links. Genuine superannuation funds will not request confirmation or disclosure of personal or banking details through an email or text link, or even provide a link to a login page.

Super fund scam investigators with a proven track record

A global reputation

IFW is renowned around the world for its unrivalled ability to unearth evidence and combat sophisticated superannuation scams. Our revered investigators, researchers and analysts bring the truth to light with unparalleled skill.

No stone unturned

We tackle all superannuation scam investigations with proactive and personalised tactics that evolve with every breakthrough. Our investigators leverage invaluable access to local databases, expert witnesses in super fraud, and a network of confidential informants.

Resources around the world

IFW investigators utilise exclusive partnerships with federal and international law enforcement agencies across the globe. We can also collaborate with local and foreign correspondent lawyers to uncover money trails and hidden assets in almost any country.

Actionable evidence

Having your superannuation fund ransacked by scammers can ruin the rest of your life. To help you take legal action against the fraudsters and attempt to recover your losses, we will provide a rigorous brief of evidence for use during criminal proceedings in the relevant jurisdiction. 

Complete discretion

Every superannuation scam investigation is performed with unwavering professionalism and sensitivity. Enjoy peace of mind knowing we encrypt all personal data for complete privacy, and keep all case details confidential unless disclosed with your consent.