Investment Scams in New Zealand
New Zealand residents face a rising tide of investment fraud, including pig-butchering schemes and fake managed funds that impersonate FMA-registered entities. Victims have collectively lost tens of millions of New Zealand dollars.
Part of: Investment Scams
Last reviewed: 1 June 2026
New Zealand's Financial Markets Authority (FMA) actively maintains a warning list of unlicensed investment providers, yet scammers continuously register new websites that are absent from the list until complaints arise. The country's relatively high average wealth per capita and English-language internet access make it an attractive target for offshore fraud networks.
Investment scams targeting New Zealanders often clone the branding of legitimate KiwiSaver providers, well-known banks, or FMA-registered fund managers to project credibility. The scams are promoted through social media ads and unsolicited calls, both of which bypass FMA's licensing framework.
How this scam works on New Zealand
Victims receive cold calls from people claiming to represent well-known investment firms. Callers cite low interest rates and suggest moving KiwiSaver or term deposit savings into a 'higher-yield offshore fund.' An elaborate portal shows impressive returns in the first months, encouraging larger deposits before the scammer vanishes.
A separate wave exploits social media advertising, with deepfake videos of prominent New Zealand business figures or TV personalities endorsing investment platforms. Victims who click the ad are directed to a professional-looking site where they register and deposit funds.
Cross-border recovery scams have also emerged: after losing money, New Zealanders are contacted by 'asset recovery firms' charging upfront fees to retrieve lost investments, adding a second layer of fraud to the original loss.
Common red flags
- Investment firm is not on the FMA's register of financial service providers
- Promised returns significantly exceed what licensed NZ KiwiSaver funds offer
- Pressure to move KiwiSaver or term deposits quickly before 'rates change'
- Deepfake celebrity or business leader endorsement in social media advertising
- Withdrawal requests met with additional fee demands before funds can be released
- Contact information leads only to an overseas call centre or generic email address
- Company name closely resembles a legitimate NZ bank or fund manager
How to protect yourself
- Always verify any investment firm on the FMA register at fma.govt.nz before engaging
- Do not act on unsolicited calls or social media ads promising high investment returns
- Confirm your KiwiSaver provider's identity by calling the number on their official website, not a number the caller gives you
- Seek independent financial advice from an FMA-licensed adviser before moving large sums
- Check the FMA warning list for the specific company name and any variant spellings
- Never pay upfront fees to recover previously lost investment funds
How to report it
- Report to the Financial Markets Authority via fma.govt.nz/contact
- File a complaint with the Serious Fraud Office at sfo.govt.nz for large-scale fraud
- Contact your bank immediately if funds have been transferred — some transfers can be recalled
Frequently asked questions
How do I check if an investment company is registered in New Zealand?
Search the Financial Service Providers Register (FSPR) at companiesoffice.govt.nz/fsp and the FMA's list of licensed financial advisers. If the company does not appear or its licence has lapsed, do not invest.