The scale of this issue is alarming, with the Australian Competition and Consumer Commission reporting an estimated $2 billion lost to investment, remote access and payment redirection scams in 2022. With the speed of technological change, it is not surprising that Australians (and senior Australians, in particular) are falling victim.

Scams can take on many forms; from Ponzi schemes to phishing scams and fraudulent investment opportunities. Individuals are often targeted through unsolicited emails, phone calls, or social media messages promising lucrative returns or exclusive investment opportunities. In some cases, fraudsters impersonate legitimate financial institutions or advisers to deceive unsuspecting victims into providing personal or financial information. In even more cunning situations, they will gain access to business or personal systems to identify known relationships and impersonate one party of the relationship, for example, communicate to a client by purporting to be Cameron Harrison.

Protecting oneself from scams requires vigilance (more likely, a high level of scepticism) and proactive measures, such as staying informed about common scam tactics, verifying investment opportunities, and exercising caution online. As a financial services provider, we believe it is also our responsibility to employ dynamic and robust measures, and educate clients on these risks. At Cameron Harrison, we prioritise the safeguarding our clients' finances and have implemented stringent protocols to mitigate the risk of fraud.

Here are just four such protocols we have in place to ensure our clients' funds are secure:

As a final backstop, any change of details made to an account or withdrawals processed will trigger an immediate notification to the client via text message. This proactive approach ensures that clients are promptly informed of any account activity, ensuring they have full transparency over their account.

Our clients entrust us with the significant responsibility of managing their money, and it is of paramount importance that we do so upholding the highest standards of security and integrity in all our operations. We are committed to protecting our clients’ financial interests and to monitoring the technological landscape for new threats.

Cameron Harrison have been advising business owners and their families on asset allocation and intergenerational wealth management for over 50 years. We have demonstrated over a long period our ability to manage investments through both the good times and bad by keeping the client at the centre of our business. 

For more information on our approach to wealth management and investment strategy, please contact us on +61 3 9655 5000 or contact our experts here.