Standing up for Canberra

Learning how to avoid scams at financial literacy forum

Citizens of Canberra are better prepared to avoid financial scams after a Financial Literacy Forum was held in Tuggeranong today hosted by Member for Canberra, Gai Brodtmann.

Parliamentary Secretary to the Treasurer, the Hon Bernie Ripoll MP highlighted some common scams and how to avoid them during his presentation to the forum.

“Being scammed can have a devastating effect on your life,” Mr Ripoll said.

“Education is the best defence against being scammed. ASIC’s Moneysmart website has some excellent tips and advice on how to avoid scams,” Mr Ripoll said.

“Financial scammers are sophisticated and cunning, so it is essential that people do thorough research before making investments,” Ms Brodtmann said.

“Remember if it seems too good to be true it probably is,” Ms Brodtmann said.

Mr Ripoll also spoke to the forum about financial literacy and the Moneysmart website.

The Moneysmart website contains information and calculators to help people make informed decisions about their finances.

It is accessed by approximately 120,000 people per month.

To access Moneysmart visit www.moneysmart.gov.au