Calls to the number supplied in the email are redirected offshore and answered by a woman with a British accent – mirroring the same scam that the Australian Securities and Investments Commission has warned on since the start of the year.

NSW Police is investigating the matter, and the Sydney City Police Area Command is handling the probe.

The fraud ring has ensnared millions of dollars from unsuspecting victims who sought better returns as interest rates collapsed during the COVID-19 crisis, generally through search engines such as Google,

While several bogus websites connected to the scam revealed by the Financial Review – such as Clearvest.com.au, Compare-investments.com.au, Marketing-aus.com or Investmentcompare.com.au – have been shut down after the websites were flagged to Google, others that were flagged with the search engine in recent weeks – such as Compareauinvestments.com.au, como-bonds.com or Fin-astra.com – are still live and running. 

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