<ul>
<li><span>ASIC has noticed an increase in marketing recommending Australians switch from retail and industry superannuation funds to self-managed superannuation funds (SMSFs) so they can invest in a ‘high return’ portfolio</span></li>
<li><span>SMSF trustees are being targeted to invest in crypto-assets (or cryptocurrencies)</span></li>
<li><span>Superannuation is an attractive target for scammers</span></li>
<li><span>Crypto-assets are a high risk and speculative investment</span></li>
<li><span>ASIC is reminding superannuation fund members it is best practice to seek advice from a licensed financial adviser before agreeing to transfer superannuation out of a regulated fund into an SMSF</span></li>
</ul>
The corporate regulator has noticed an increase in marketing recommending Australians to switch to self-managed superannuation funds that invest in crypto, and has warned against some of the trappings.
With consumers and SMSFs increasingly being targeted with marketing to invest in crypto-assets, ASIC has issued a warning urging SMSFs to consider the risks of these investments. In a public stateme