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ASIC issues warning on shadow shopping scam

ASIC issues warning on shadow shopping scam

ASIC issues warning on shadow shopping scam
Miranda Brownlee
13 February 2018 — 1 minute read

Consumers have been cautioned about a scam where cold callers claim to be undertaking a ‘shadow shop’ on behalf of ASIC.

ASIC said in a public statement that these scammers claim to be looking for shadow shoppers as part of an ASIC compliance and monitoring campaign.

The scammers tell consumers they will pay for their time and encourage them to meet in person or attend a presentation after which they will receive a questionnaire to complete, ASIC said.

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“The scammers promote their services at the following website, www.theshadowshopper.com that makes false representations that their work is associated with ASIC,” the corporate regulator said.

ASIC made it clear that it has no involvement with the website or its operators, and is undertaking inquiries into the activities of the operators.

“From time to time ASIC carries out genuine consumer research including shadow shops, however we only work with accredited market research companies. If you are contacted by a company representing that they are undertaking research for ASIC you can call ASIC's Infoline on 1300 300 630 to check,” it said in the statement.

“ASIC urges anyone who receives contact in these circumstances or is referred to this website to not respond.”

Miranda Brownlee

Miranda Brownlee

 

Miranda Brownlee is the deputy editor of SMSF Adviser, which is the leading source of news, strategy and educational content for professionals working in the SMSF sector.

Since joining the team in 2014, Miranda has been responsible for breaking some of the biggest superannuation stories in Australia, and has reported extensively on technical strategy and legislative updates. Miranda has also directed SMSF Adviser's print publication for several years. 

Miranda also has broad business and financial services reporting experience, having written for titles including Investor Daily, ifa and Accountants Daily.

You can email Miranda on: This email address is being protected from spambots. You need JavaScript enabled to view it.

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