Scam Awareness

Investment scams are becoming increasingly sophisticated, and scammers are using social media, messaging app, websites and other online channels to target investors.

We have seen an increase in impersonation scams, where scammers falsely claim to represent a trading platform, financial services company or investment professional. they may use company names, logos, websites or other information to appear legitimate and gain your trust.

After gaining your trust, scammers may then instruct you to trade in named securities listed on the ASX or certain international markets. Those securities usually anticipate characteristics of extreme volatility and unexplained fluctuations in prices.

Be cautious of unexpected investment offers

Scammers may:

• Contact you through WhatsApp, Telegram, social media or other messaging platforms offering investment advice or opportunities.

• Pretend to be an employee, representative or authorised partner of a trading platform.

• Offer ‘free investment advice’.

• Promise guaranteed, unusually high or 'risk-free' returns.

• Encourage you to invest quickly or create a sense of urgency.

• Recommend particular shares, cryptocurrencies or other investments and pressure you to act.

• Ask you to provide proof of your trading activities (i.e. Contract Notes, Trade Confirmation), showing that you have followed their instructions.

• Ask you to transfer money to a bank account or cryptocurrency wallet that is not in your own name or associated with your trading account.

• Ask for your password, verification codes, security credentials or other sensitive information

• Ask you to pay additional fees or deposits to release, withdraw or recover your investment.

Protect Yourself

Some useful steps you may wish to take:

• Stop and think. Be particularly cautious if someone approaches you unexpectedly with an investment opportunity or pressures you to act quickly.

• Verify Independently. If someone claims to represent us (or another financial institution) don't rely on the contact details they provide. Contact us or the financial institution using the details available through the official website. Independently verify the person or business using official sources, such as ASIC’s Professional Registers Search.

• Don't share your security information. Never provide your password, one-time verification codes or other account security credentials to another person.

• Be wary of investment advice from strangers. An individual or a group appearing knowledgeable or professional online does not mean they are authorised or acting legitimately.

• Only invest through your own account. Do not send investment funds to individual or third-party accounts based on instructions received through social media or messaging platforms.

What should I do if I suspect I have been targeted by a scam?

If you receive a suspicious communication, investment offer or message from someone claiming to represent us, you should not provide any personal or account information, click on links, or transfer money until you have independently verified that the communication is genuine.

If you believe you have encountered a scam:

1. Stop communicating with the scammer

Do not respond to further messages or follow their instructions.

2. Contact your bank immediately if you have transferred money

Your bank or financial institution may be able to help by stopping or recovering a transaction. Use contact details you obtain independently rather than those provided by the suspected scammer.

3. Report the scam to Scamwatch

Investment scams and other scams can be reported to the National Anit-Scam Centre through Scamwatch. Your report helps authorities identify emerging scams, warn others and take action against scammers - Home | Scamwatch.

4. Report the scam to relevant regulators

If you have lost money as a result of an investment scam from an Australian listed security, you can make a report to the Australian Securities and Investments Commission (ASIC). If it is related to an investment scam from a US or Hong Kong listed security, you may make a report to local authorities such as FINRA and HKSFC accordingly.

5. Report cybercrime where appropriate

If you have lost money or your personal information has been compromised as a result of an online scam, you can also make a report through the Australian Cyber Security Centre’s Report Cyber service - Report and recover | Cyber.gov.au.

6. Tell us about impersonation scams

If someone has contacted you claiming to represent Webull, please let us know. Providing details such as screenshots, phone numbers, email addresses, social media profiles or website addresses can help us investigate and take appropriate action. You should also report the fraudulent account, advertisement, website or profile to the platform where you encountered it.

Where can I report a Scam?

Scamwatch - Home | Scamwatch

ReportCyber -Report and recover | Cyber.gov.au

ASIC/Moneysmart - Check and report scams - Moneysmart.gov.au

SEC/Finra (US Securities and Exchange Commission) - SEC.gov | Report Possible Securities Law Violations

Remember

If you receive suspicious communication claiming to be from us, do not respond, click on links or transfer funds. contact us through our official channels so that we can help verify whether the communication is genuine.

Ph – 1300 545 899

Email – support@webull.com.au

Chat – Webull in-app help support

Trade on your own terms:

If an investment opportunity sounds too good to be true, take a step back and verify if before you act.

Disclaimer: The information provided within this FAQ is for general informational purposes only to assist client with recognising and avoiding common scam tactics. Webull Securities is an execution broker only. This FAQ does not constitute financial, legal or security advice and should not be relied upon as a complete or exhaustive guide in identifying fraudulent activity. Whilst Webull makes reasonable efforts to keep this information accurate and up to date, scam tactics evolve constantly and Webull accepts no liability for any loss arising from reliance on this general information only.