Have you come across an investment opportunity claiming to be from Bunnings? Be cautious! The Australian Securities and Investments Commission (ASIC) has issued a warning about scammers impersonating the popular retailer to promote fake “sustainability investment bonds.”
These scammers lure people in with promises of high returns—up to 9%—and claim that the investment is government-protected. However, this is entirely false.
How the Scam Works
Scammers create fake websites and send spam emails, posing as brokers or financial entities. These websites may even use Bunnings branding and include links to the real Bunnings website to appear legitimate.
However, Bunnings does not offer bonds or any other investment products. Legitimate bonds are only traded through licensed financial institutions—not retailers.
How to Protect Yourself
Follow these three steps to stay safe from scams:
- Stop – Take a moment before acting on an investment offer.
- Check – Verify whether the investment is real and ensure the person or company offering it is licensed or authorized.
- Protect – If something feels off, act fast. Contact your bank to stop any transactions and report the scam to Scamwatch.
Understanding Bonds
Bonds are generally a safer investment compared to stocks. They offer regular interest payments and are issued by governments or corporations. When held to maturity, they return their original face value.
Learn More & Report Scams
If you’re interested in legitimate bond investments, visit the Moneysmart website for guidance on different types of bonds, including government and corporate bonds.
To report a scam or find more information, visit the National Anti-Scam Centre’s Scamwatch website: www.scamwatch.gov.au. Stay informed and stay safe!