The warning signs
Almost every scam has at least one of these:
- Pressure to act now: “your account is compromised”, “you owe tax”, “the offer ends today”.
- A request to move money, or to pay by bank transfer, gift card or crypto.
- A request for a code, password or PIN. One-time codes are for you alone.
- Contact out of the blue, by text, call, email or social media, even if it looks official.
- Something too good to be true: guaranteed returns, a prize you didn’t enter, easy money.
- Being told to keep it secret from your family or your bank.
Common scams in New Zealand
| Scam | How it works |
|---|---|
| Bank impersonation | A call or text says your account is at risk and you must move your money |
| IRD impersonation | You’re due a refund or owe tax, with a link to a fake myIR page |
| Toll, parcel and fine texts | An unpaid road toll, a delivery fee or a fine, with a link to a fake payment page |
| “Hi Mum” texts | A “family member” with a new number needs money urgently |
| Investment and crypto | Ads or fake news stories, often with well-known faces, promise high returns |
| Job and task scams | Easy money for online “tasks”, until you’re asked to pay in to get paid |
| Romance | Someone you’ve never met in person needs money urgently |
| Online marketplaces | Goods paid for by bank transfer never arrive |
Here’s how a bank impersonation scam usually plays out:
-
1 A text says there’s a suspicious payment on your account, with a link or a number to call.
Red flag: Contact out of the blue, made to look urgent.
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2 Someone from the “fraud team” calls. They know your name, and maybe your bank and part of your card number.
Red flag: Knowing your details doesn’t prove who they are: details leak and get sold.
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3 They ask you to read out a code sent to your phone, to “stop the payment”.
Red flag: The code is what lets them into your account or approve a payment.
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4 They tell you to move your money to a “safe account”, or to install an app so they can help.
Red flag: Your bank will never ask you to move money to keep it safe, or to install remote access apps.
At any point: hang up, then call your bank on the number on your card or its website.
Check before you invest
- Look up the FMA’s warnings. The Financial Markets Authority, which regulates investments in New Zealand, warns about firms and websites it’s concerned about.
- Check the Financial Service Providers Register. A real New Zealand financial firm should be registered, and most that offer investments or advice need an FMA licence.
- Be wary of overseas platforms found through ads or social media, and of anyone who contacts you first.
- Walk away from guaranteed high returns. Real investments go up and down.
Protect yourself
- Turn on two-step verification for your bank, email and myIR.
- Never share one-time codes. Your bank will never ask for them.
- Never install an app because a caller asks you to. Remote access apps give scammers control of your device.
- Call back on a number you’ve looked up yourself, such as the one on your card.
- Log in to myIR and your bank directly, never through a link in a message.
If you’ve been scammed
- Contact your bank straight away. The sooner you report it, the better the chance of stopping the payment.
- Report it to Netsafe (0508 638 723), and to the Police on 105 if you lost money.
- Change your passwords, starting with your email and bank.
- Ask the credit bureaus (Centrix, Equifax and Experian) to put a suppression on your credit report if your details were stolen.
- Watch for a second scam. People who offer to get your money back for a fee are usually scammers too.
Being scammed isn’t something to be embarrassed about: scammers are professionals, and reporting it helps warn others. If it’s affecting how you feel, you can call or text 1737 free, any time, to talk to a trained counsellor.