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July 2021: Investment scams impersonating JBWere

NAB and JBWere are aware of investment scams targeting Australians, promising lucrative returns. Some of these scams may impersonate legitimate people and companies, including JBWere. In 2020, Australians reported a loss of $66 million from investment scams to the Australian Competition and Consumer Commission (ACCC).

These fake investment companies are proactively contacting Australians online or by phone, and claiming to be stock brokers offering investment advice, promotions, and hot tips or offering free investment seminars. The fraudster will claim what they are offering is low-risk, and will provide you with quick and high returns, or encourage you to invest in overseas companies. The offer may sound very legitimate, with resources to back up their claims. They may say you need to act quickly and invest, or you will miss out.

Before transferring any money to an investment company, call the company to confirm by looking up their publicly listed phone number (i.e., on their website).

For more information:

  • Check the Australian Securities and Investments Commission’s (ASIC) list of companies that you should not deal with,
  • Learn more about investment scams on the ACCC’s Scamwatch website
  • Read NAB’s article on investment scams.

If you believe that you have paid money to an investment scam, please contact your bank or JBWere immediately.