Page last updated: 16 November 2021

Real life scam stories

Around one in five Kiwis has been targeted by an investment scam, according to FMA research, Unfortunately, some have actually lost money.

Scammers thrive on the shame that often comes with such a loss. They don’t want victims to tell others about it because that could disrupt their dishonest activities.

Below are real stories of everyday Kiwis who lost money to investment scams – but took positive action by reporting it to the FMA and then sharing their stories so others can see what scams look like.

You can be a hero too. If you see or hear of any suspicious investment offers, contact the FMA.

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  1. 16 August 2021

    How a family chat might have saved one man from losing $50,000 to an investment scam

    When a band of international scammers launches a sophisticated, multi-person project to fleece you out of your money, your best protection might be closer to home than you think.

    Bill* is in his early 70s, lives in a small provincial town and works in the health sector. He fell victim to an international share trading fraud which all began with an unsolicited phone call from a man in New York, ringing as part of a survey associated with Wall St Journal.