Police have warned members of the Chinese community of an emerging "investment" scam on social media that has conned some victims out of millions of dollars.
Detective Senior Sergeant Rob Hunkin said the scammers were making initial contact through WeChat or Telegram asking users to "invest" in an Australian investment platform.
"Once victims are hooked, an initial investment payment is made by international bank transfer," Hunkin said. "Eventually, the scammer will advise victims to pay into the scheme further in case only."
Payments were then made in person, with offenders going to a victim's house or arranging a meeting at a set location, Hunkin said.
"The truth is that there is no investment platform – this is a scam."
In two cases, victims have lost millions of dollars.
"Police are continuing to investigate these two cases, but we need the community’s support to help raise awareness of what is happening," Hunkin said.
"Our advice to anyone is to be extremely cautious if you are ever approached about making an investment into a project or scheme."
He said it was "essential" to ensure the company was genuine before handing over any money.
"If you cannot verify whether a person or scheme is what they say they are, never hand over any money and cease any contact."
A legitimate investment would never require cash being handed over, he added.
"We are asking the community to assist police in sharing this message amongst their friends and family.
"The last thing we want to see is more people fall victim to these scams."
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