Skip to main content

Fraud and Scams

State Street Global Advisors Australia Limited (‘SSGA’ or ‘State Street’) would like to remind you to diligently check the authenticity and reliability of any information you receive that claims to be related to, issued by, or authorised by, SSGA or State Street. We have been advised that scammers have been impersonating SSGA or State Street staff to promote fraudulent financial products. Often these products promise unrealistic returns that are “too good to be true”.

It is important to stay alert to the risk of financial fraud and scams. SSGA or State Street does not make unsolicited offers of investment products or financial advice. You will not receive phone calls or emails from SSGA or State Street offering to sell you specific investment products unless you have first made contact with us. Please beware of individuals purporting to be employees of SSGA or State Street who are trying to sell a financial product to you.

Beware of Common Types of Frauds and Scams.

In an environment where businesses rely heavily on technology, criminals are becoming more sophisticated in their own use of technology. These are some examples of common scams:

  • Investment scams. These are extremely appealing and highly convincing “investment opportunities”. Scammers often use phishing emails, cold calling or fake websites to try and entice you to invest in fake financial products. Often these fake products feature branding from a prominent and reputable financial services business like SSGA or State Street.
  • Identity theft. This is where someone steals your identity for their financial gain. Imposters may intercept your post or hack your computer to gain access to your personal information.
  • Cybercrime. Criminals may use malware (malicious software) to gain access to your devices. With the increasing sophistication of malware, it is crucial you keep your computer and any personal devices up to date with the latest protection software.

This list is not exhaustive and we encourage you to be cautious of unsolicited emails, text messages, phone calls or social media messages by unfamiliar individuals or organisations.

Suspect Fraud or Scam?

If you suspect that you have been the target of a fraud or scam that is using SSGA’s or State Street’s name or claiming to involve someone employed by SSGA or State Street, please contact us at GlobalSecurityApac@StateStreet.com.

We also recommended you report this to government organisations who are ready and willing to assist. Some useful contacts include:

  • Australian Securities & Investment Commission (ASIC)– Provides information for financial and investment scams or fraud.
  • IDCARE -Helps individuals affected by identity theft and cybercrime.
  • Australian Competition & Consumer Commission (ACCC’s) Scamwatch – Information for consumers about how to recognise, avoid and report scams.
  • Fraud and theft – Report to your local police, call 131 444