New Zealand's financial markets watchdog has joined a newly formed alliance aimed at tackling the country's growing scam problem, as regulators ramp up efforts to protect investors from fraudulent schemes.

New Zealand Financial Regulator Joins Anti-Scam Alliance

The Financial Markets Authority (FMA) announced its participation in the New Zealand Anti-Scam Alliance, a joint operational partnership that brings together multiple agencies to coordinate responses to scam activity. The move comes as the FMA reports issuing 110 new warnings about suspicious investment schemes in the 12 months ending June 30, 2025.

Clare Bolingford, the FMA's Executive Director for Licensing and Conduct Supervision, said the regulator views collaboration as essential in fighting scams. "Collaboration is a vital factor in the fight against scams. We look forward to playing our part in the Alliance," she said.

The FMA has made disrupting scam activity one of its key regulatory priorities as it works to maintain confidence in New Zealand's financial markets. The regulator says it wants to help "investors and consumers to make good decisions, know their rights and know how to protect themselves."

Meanwhile, the regulator issued a warning about a new type of scam that uses fake economic surveys to target victims before directing them to fraudulent trading platforms, including those offering CFDs.

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A Response to Increased Fraud Activity

The FMA already works with other local and international regulators and cyber safety agencies, including the National Cyber Security Centre, to share intelligence and disrupt investment scams. Bolingford described the new alliance as "a significant move forward in a co-ordinated New Zealand response to scams."

Beyond issuing warnings, the FMA has identified hundreds of websites that investors should avoid and has taken action to disrupt these sites and their content. The agency shares its warnings through its website, social media channels, and with finance industry participants, as well as through the International Securities & Commodities Alerts Network portal.

The formation of the alliance reflects growing concern about scam activity targeting New Zealand investors and consumers. While the FMA's announcement doesn't specify which other agencies are part of the alliance, the regulator's emphasis on coordination suggests a broader government response to the problem.

Also this week, New Zealand announced plans to ban crypto ATMs and impose a NZ$5,000 cap on international cash transfers in an effort to curb money laundering and related scams.