Australian supervisory authority warns of investing pension funds in risky crypto-assets-regulation
Australian supervisory authority warns of investing pension funds in risky crypto-assets-regulation
An Australian supervisory authority has warned of residents who want to manage their own pension themselves to invest in crypto systems that promise high returns in a short time. The regulatory authority repeats the warning that crypto assets are a risky and speculative investment.
fraudulent tactics
The Australian supervisory authority for financial services, the Australian Securities and Investments Commission (ASIC), has warned residents who manage their pension funds themselves to take care of fraudsters who use the temptation of faster and high returns from crypto-assets to cheat unsuspecting victims.
The Watchdog added that members of the pension fund who would like to transfer the pension [retirement savings] from a regulated fund into a self -managed pension fund (SMSF) should be advised before changing advisors.
in a public warning Also describes some of the tactics used by fraudsters that Australians have to look for. The warning is:
Do not rely on social media ads or online contacts from someone who advertises an “investment option”. Be careful with cold calls, text messages or email emails with a recommendation to transfer your super to an SMSF or to invest in crypto-assets via your SMSF.
For Australians who choose to manage their pension personally, the watchdog reminds you of your responsibility and the tax consequences that arise when you decide to invest in cryptocurrencies. The warning also emphasizes that only licensed financial advisors are better able to help Australians who want to set up an SMSF.
illegal money transfer
In the meantime, the warning revealed that the ASIC had made the decision to close a non -licensed service business. An example of the shutdown is A One Multi-Services in November, after the latter accused of illegally transferred $ 2.4 million to buy crypto-assets.
The warning said: "Asic, the Federal Court in Queensland has won interlinking orders and interim orders against A One Multi and his directors Aryn Hala and Heidi Walters to protect investors."
In the meantime, the warning states that cheated Australians can contact his hotline or via the hotline or via the Internet .
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