Page last updated: 09 September 2024

Warnings and alerts

This list of warnings and alerts on this page contains the names of businesses or individuals you should be wary of if you are planning to invest. The list is not exhaustive and there is no guarantee that the business or individual listed has not changed their name.

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Scam impersonating Financial Markets Authority

The Financial Markets Authority (FMA) is aware of an FMA impersonator using the fake email address [email protected].

DRG-T – International warning, suspected scam

The Dutch Financial Regulator (AFM) has issued a public warning about Dragon Trade, trading under the name DRG-T.

Bitcotel – Withholding client funds; upfront payments required for withdrawals

We are aware of an investor who has invested with Bitcotel and is unable to withdraw money they invested.

Access Cash Lending – Loan scam

The FMA has received a report of a victim who has lost money after applying for a loan with Access Cash Lending.

New cryptocurrency scam that drains your cryptocurrency holdings

We have become aware of a new type of sophisticated cryptocurrency scam where the scammers include a link on social media posts that automatically transfers victims’ cryptocurrency assets to the scammers.

Ultimate Traders – Suspected scam; withholding client funds; false regulation claims

We recommend caution when dealing with Ultimate Traders.

Option 2 Trade – Suspected scam

We recommend caution when dealing with the online trading platform Option 2 Trade or its website, option2trade.io.

Livaxxen – Operating a scam and withholding client funds

Livaxxen is not licensed nor registered on the Financial Service Providers Register (FSPR) to provide financial services or products in New Zealand.

Scam impersonating New Zealand entity

FMA has received reports that impersonators of Max Money Group Limited have approached persons or entities on social media platforms and offered insurance and lending products.

PFDMarkets- Impersonates New Zealand Company

The websites offer cryptocurrency and commodity services but is not registered to provide financial services in New Zealand and is misusing details of the genuine company, Pacific Financial Derivatives Limited.

YouTube cryptocurrency investment scam

The FMA is warning investors to be wary of an investment scam which is using YouTube channels to promote fake crypto investment websites.

Corporate Brokers Limited – Fake online article and bank letter; withholding client funds

Mic-Market – False regulation claims; associated with Trader AI warned by ASIC

We are aware that Mic-Market has contacted a New Zealand resident with the aim of offering financial services.

Flipearners – Suspected scam, unreasonably withholding client funds

Flipearners trade in cryptocurrencies, crypto binary and stocks. The FMA is warning that they have all the hallmarks of a scam.

AgroCura – Imposter website

The entity AgroCura is purporting to be a registered company in New Zealand by using the name and Certificate of Incorporation of a registered New Zealand company, Agrocura Limited. A director of Agrocura Limited has confirmed it has no association with this website. Note, the initial warning has been updated.

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