Issue Date:  -  Monday, 6 January 2003

Beware of photocopied $50 notes

Photocopied $50 notes with a phone number and website on them promising financial freedom are being handed out around Perth and this has the Department of Consumer and Employment Protection concerned.

"Apart from the fact that photocopying legal tender can be a crime under Commonwealth law, we hold fears that some people might be taken in by the gimmick that promotes a way to earn $1,000 or more per month", Consumer Protection Commissioner Patrick Walker said.

The website that includes an in-depth sales pitch and video clip seeks personal information from consumers. The telephone number connects to an answering system that promotes self-employment opportunities and travel in the wellness industry and invites callers to leave their details for a personal call back by the schemes operator.

"After the Christmas holiday period we find many people looking for ways to increase their income and they can often jump into schemes which do not suit their circumstances.

"It is common for schemes such as this to talk in general terms only about the benefits of health and wealth creation. Consumers need to look behind the puffery.

"Do not allow slick sales pitches to seduce you and always obtain independent financial and business advice before investing money or committing to moneymaking schemes", Mr. Walker said.

To check on current consumer alerts or to report any concerns about moneymaking schemes contact:

Department of Consumer and Employment Protection
Tel: 1300 30 40 54

The Australian Competition and Consumer Commission (ACCC)
www.accc.gov.au Tel: 1300 30 25 02

The Australian Securities Investments Commission (ASIC)
www.fido.asic.gov.au Tel: 1300 30 06 30