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SYDNEY MIGRANTS FALLING PREY TO EARLY ACCESS SUPER SCAMS.
Publication: AsiaPulse News Publication Date: 22-JUN-07 |
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COPYRIGHT 2007 Asia Pulse Pty Ltd
SYDNEY, June 22 Asia Pulse - Scam operators are duping low-income earners from Sydney's Filipino, Fijian and Samoan communities into the early release of their superannuation, Australia's corporate regulator says.
The financially strapped victims pay thousands of dollars to the scammers, sometimes without gaining access to their retirement savings.
Migrants belonging to church groups are being swindled.
The Australian Securities and Investment Commission's (ASIC) deputy executive director of consumer protection Delia Rickard says unlicensed financial service providers are also targeting workplaces and even their own friends, with some victims not knowing the scams are illegal.
"They particularly target people on low incomes or people in financial...
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