Investment and romance scams
- Checked against sources
- Sources
- 3 cited
- Applies to
- New Zealand
Be suspicious of any investment found through social media ads or messages, especially with celebrity endorsements, guaranteed returns or pressure to act fast, and of any online relationship with someone you haven't met who eventually needs money. Stop paying, tell your bank, and report it. Don't pay anyone who offers to recover your money, because they're usually scammers too.
Investment scams
How it works. An ad or message, often using a fake news article or a well-known person’s face without permission, promotes a crypto, trading or “AI investing” platform. A friendly “account manager” helps you start small. The dashboard shows impressive returns. You’re encouraged to invest more. When you try to withdraw, there are fees, taxes or verification charges, and then the platform disappears.
Warning signs:
- you found it through a social media ad or an unexpected message
- celebrity endorsements, especially New Zealand personalities
- guaranteed or unusually high returns
- pressure to invest more, or to keep it quiet
- payment by crypto, gift cards or transfers to individuals’ accounts
- you can’t withdraw without paying more first
Before investing, check whether the provider is registered on New Zealand’s Financial Service Providers Register and whether the Financial Markets Authority has issued a warning about it.
Romance scams
How it works. Someone you meet online on a dating app, social media or a game builds a relationship over weeks or months. They’re often overseas, can’t video call, and can’t meet. Eventually there’s an emergency, such as a medical bill, a frozen account, a customs fee or a flight. Some romance scams also turn into investment scams, where the “partner” introduces you to a platform.
Warning signs:
- they move quickly to private messaging and declare strong feelings early
- they always have a reason not to video call or meet
- they ask for money, gift cards or crypto, or ask you to receive and send money for them
If it’s happened to you
- Stop sending money, whatever they say about getting it back.
- Tell your bank immediately and ask it to try to recover payments.
- Report it to Police (105), Netsafe (0508 638 723) and the National Cyber Security Centre (0800 114 115).
- Watch for recovery scams. People who’ve lost money are targeted by fake “recovery services” and fake lawyers. They’re scams too.
- Get support. IDCARE (0800 121 068) helps with identity and scam recovery. Talking about it helps, and it is not your fault. These scams are run by organised groups who do this full-time.
Sources
Something wrong or out of date? Tell us or edit this page on GitHub. General information, not legal advice.