Scam Watch

29th June 2023

It seems there are more sophisticated investment scams that regulators both here and in Australia are aware of.  Australians lost $3.1 billion in scams last year, an 80% increase on the 2021 total (Targeting Scams Report, Australian Competition and Consumer Commission, 17 April 2023).    Here in New Zealand, regulators estimate one in five Kiwis have now been targeted by scammers (Real Life Scam Stories, Financial Markets Authority, 31 May 2023).

Check out these two links from the New Zealand Financial Markets Authority (FMA) to ensure you protect yourself and are aware of how scammers are targeting consumers  Scam Basics and FMA warning of interest rate comparison site scam

FMA warns New Zealanders of comparison website harvesting investor details | Financial Markets Authority

Scam basics | Financial Markets Authority (


Also check out, You’ve Been Scammed By Nigel Latta, a four-part televison series that looks at how criminals prey on human weaknesses – love, greed, fear and trust – to scam us out of our hard-earned cash. This begins on TVNZ 1 on Monday 3rd of July at 8pm.