International regulators have been issuing warnings about investment scammers who are exploiting the current market conditions and uncertainty due to the COVID-19 pandemic.
These include the following investment offers observed overseas:
Scammers are also using common techniques to trick anxious consumers:
While the FMA has not yet received any reports of suspected investment scams targeting investors in New Zealand, it’s possible overseas and/or local scammers are already active here and attempting to take advantage of the current consumer concern and market conditions, in an effort to scam Kiwis.
Accordingly, the FMA wants to remind investors of the typical warning signs of an investment scam. These include – but are not limited to – the following:
If you see or hear of an investment offer that fits any of the descriptions above, take immediate action: