There’s a renewed warning about investment scams with latest figures showing West Australians have lost just under $5 million to scammers so far this financial year.

65 people have fallen victim to such scams, responding to cold calls and ads on social media which falsely claim high returns for low risk.

John is among them – losing almost $10,000 in a share trading scam.

He told Gary Adshead on Mornings he was originally enticed by a brochure and then constant phone calls.

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