New Zealand's FMA
$265 Million Drained: New Zealanders Fall Victim to Sophisticated Bank Scams
- Scammers are increasingly exploiting both online payment systems and personal banking details in the region.
- The two main types of scams involve either tricking victims into sending money or stealing personal information.
Monday, 17/11/2025 | 20:00 GMT by
Jared Kirui
ANZ Caught Red-Handed Overcharging 200,000+ Customers
- The bank charged improper overdraft fees and falsely demanded mortgage incentive repayments
- It has, however, already refunded customers $4.37 million in improper charges plus additional compensation payments.
Monday, 08/09/2025 | 06:01 GMT by
Damian Chmiel
New Zealand Seeks Industry and Investor Views on Tokenized Assets
- In response to the growing popularity of moving real-world assets onto the blockchain, the FMA has prepared a consultation paper.
- Unlike its European peers, which have so far only issued warnings about tokenization, the watchdog wants to hear what industry representatives think about this development.
Thursday, 04/09/2025 | 06:13 GMT by
Damian Chmiel
How Fake Facebook Celebrities Are Stealing Real Money on WhatsApp
- Fraudsters impersonate prominent New Zealand financial figures using AI-generated videos to lure victims into fake investment schemes.
- Although the videos featuring local media stars are fake, the money involved is real, as are the resulting losses.
Tuesday, 19/08/2025 | 07:14 GMT by
Damian Chmiel
How Two “Investors” Fooled 55 People from New Zealand for Seven Years
- The married couple convinced victims from the local community that they were experienced traders. Zapytaj ChatGPT
- In reality, the fraudsters used new funds to pay earlier investors and cover personal expenses.
Monday, 11/08/2025 | 06:52 GMT by
Damian Chmiel
New Zealand's FMA Issues 110 Warnings in a Year as It Joins Global Anti-Fraud Alliance
- The Financial Markets Authority has joined a new multi-agency project to fight scams and emerging fraudulent schemes.
- "Collaboration is a vital factor in the fight against scams," said Clare Bolingford, the FMA's Executive Director.
Thursday, 10/07/2025 | 06:38 GMT by
Damian Chmiel
From a Simple Survey Call to Investment Scam: New Zealand Exposes New Fraud Scheme
- Fraudsters use fake economic surveys to gather personal information before directing victims to bogus trading platforms.
- The scammers never return investors' money and often demand additional fees to release funds that don't exist.
Wednesday, 09/07/2025 | 08:10 GMT by
Damian Chmiel
Chat Group Scams Targeting New Zealanders Are Increasing: Regulator Receives Complaints
- Scammers are using every social media platform to reach out to potential targets.
- Earlier, the FMA said that scammers are impersonating as FCA and CySEC representatives.
Tuesday, 17/06/2025 | 07:13 GMT by
Arnab Shome
Kiwis Want High Returns But 70% Keep Cash Under the Mattress
- While 43% of New Zealanders prioritize high investment returns, fewer than 30% actually invest.
- Meanwhile, financial stress is mounting, with 61% of Kiwis reporting they're "sinking" financially.
Thursday, 29/05/2025 | 06:54 GMT by
Damian Chmiel
Five Tiny Trades, One Massive Fine After Long Investigation
- NZX investor Kok Ding Cheng was fined NZ$198,000 for manipulating Rua Bioscience shares in 2020.
- The High Court found he placed small, late-day buy orders to influence closing prices; most orders were blocked by broker controls.
Thursday, 01/05/2025 | 06:52 GMT by
Damian Chmiel
Latest WhatsApp Investment Scam Unveils Bots, Bogus Leaderboards, and Broken Promises
- “Txex” websites offer unrealistic returns on crypto investments, the New Zealand financial regulator has warned.
- Victims are lured through fake WhatsApp trading groups and leaderboards before being unable to withdraw funds.
Thursday, 17/04/2025 | 06:23 GMT by
Damian Chmiel
FMA Identifies Almost 100 Fraudulent Trading Platforms, Including Saxo, IG and ATFX Clones
- According to the regulator, they were designed to scam investors through fake profit displays.
- Moreover, the cloned websites target unsuspecting investors with additional fee demands.
Monday, 17/02/2025 | 07:27 GMT by
Damian Chmiel
FMA Flags YouTube-Based Crypto Scam as Digital Fraud Surges
- The FMA has uncovered a widespread cryptocurrency scam operating through YouTube channels and messaging apps.
- Fraudsters use fake trading platforms to steal funds after gaining victims' trust through social media engagement.
Monday, 16/12/2024 | 07:54 GMT by
Damian Chmiel
Warning: Clone Broker Targets Investors with Fake CySEC and FSCA Licenses
- The New Zealand FMA has warned about Mic-Market, which falsely claims to be registered in multiple jurisdictions.
- As Finance Magnates learned, the company cloned the licensed Cypriot broker Colmex's website and credentials.
Tuesday, 03/12/2024 | 07:18 GMT by
Damian Chmiel
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